Modernizing global payments leveraging the full power of blockchain
On October 10th (2017) in San Francisco Ripple announced great achievement in growing it’s Network to more that 100 Financial institutions which include companies like Bexs Banco, TransferGo, AirWallex, Krungsri, Credit Agricole, Cuallix, RAKBANK, Currencies Direct, dLocal, IFX, Krungsri, amongst others, and they’re now on the path to join existing members like SEB and Siam Commercial Bank who have deployed Ripple solutions commercially.
Brad Garlingouse About Ripple to Fix Current Banking Payments Experience
“Global payments are undeniably going through a sea change, led by financial institutions adopting blockchain to fix their customers’ broken payments experience,” said Brad Garlinghouse, CEO of Ripple. “Now more than 100 financial institutions are looking to Ripple as the solution to the problem. Updating their payments infrastructure with Ripple has become the equivalent of a retailer choosing to build an e-commerce business in the year 2000 — it’s a no brainer.”
Commercial Payments Volume Builds
Joining RippleNet affords new members the opportunity to easily connect to other Ripple-enabled financial institutions to take advantage of new revenue opportunities. Several have shared how they’re improving their customers’ payments experiences using Ripple solutions.
- SEB has processed more than $180 million in payments for a large corporate customer between Sweden and the U.S. over RippleNet with transactions taking just seconds to complete.
- Thai expatriates living in Japan are sending money home to their families faster than ever before, thanks to SBI Remit, Siam Commercial Bank and Ripple.
- Krungsri, a leading bank in Thailand and a member of MUFG, has successfully sent live corporate payments on behalf of a large petrochemical company located in Southeast Asia.
RippleNet members and their customers — corporations and consumers alike — are increasingly reaping the benefits of instant, on-demand, certain and low-cost payments with Ripple solutions, ultimately sharpening their competitive edges. As more financial institutions join RippleNet, instant payments will reach more destinations and costs will further compress, enabling members to continuously improve their global payments services.
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