US Finance Giant Bottomline Testing Ripple’s Disruptive Technology
- Bottomline Technologies processes trillion dollars in payments every year and operates in 92 countries
- The idea is to update the company's software mode to leverage new disruptive technologies
The US-based finance giant Bottomline Technologies is testing blockchain-based Ripple’s remittance network.
Laurent Laborde, Solution Architect at Bottomline Technologies says the company is updating its software-as-a-service (SaaS) model, a software distribution model in which a third-party provider hosts applications and makes them available to the customers, to leverage new disruptive technologies including Ripple. The recent update on Laborde’s page reads,
“Fundamental part of the move of our SaaS to the current disrupting technologies in the financial market: API-based payments, Ripple.”
The San Francisco-based startup has built a software which is a faster and cheaper alternative to Swift. Apart from RippleNet, which is a network of 300+ banks and financial institutions across 40+ countries, it offers the option to use digital asset XRP to move money across borders.
Laborde however, hasn’t specified which solution of Ripple the company will be implementing.
A payment processing company, Bottomline Technologies is an innovator in business payment automation technology that operates in 92 countries. The company processes trillion dollars in payments every year and has reported a total revenue of over $108 million in the first ending Sept. 30, 2019.
Citizens Bank, GPS – Global processing services, Shepherd Center, Parkinsons UK, Quantum Advisory, Deljis, Carte Blanche Group, ASSA Abloy, First Command, and Rotom are Bottomline’s partners.