Ripple has just sealed an agreement with American Express, which will now use xCurrent payment technology in its process. At the same time, the UK's Santander Bank will also be seeking Ripple for cross-border payments, the first breakthrough for Blockchain technology for a UK bank.
Ripple improves customer services in Santander
The Blockchain has not always been perceived as advantageous by financial institutions because of its digital character exposed to piracy . It was surprising that a large UK bank like Santander has reached an agreement with Ripple to bring more fluidity and lightness in its process of managing cross-border payments.
Ripple will therefore bring its digital experience in terms of quick and transparent payments to the bank. Chris Larsen, co-founder and CEO of Ripple says that
"Santander is the first bank in the world to transfer real money abroad with this technology, as a forerunner and pioneer of the banking sector. In doing so, they create a new exemplary service standard. "https://twitter.com/EDadoun/status/1061841983256154112
To this end, Ripple's technology is expected as an innovative system via a "two-way messaging application" that will, among other things, facilitate the tracking of transaction data (contractor information, exchange rates, deadlines, etc.). , etc.).
In addition, Ripple will eliminate time-consuming and obsolete operations to provide better turnaround time (transaction) while saving millions of dollars per year.
American Express Takes Ripple Services
For its part, American Express, the company that operates in the payments and business travel sector, also took advantage of Ripple's technology to improve its business. Vice President Colin O'Flaherty confirmed the news that the company was using Ripple's xCurrent technology .
During the Money 20/20 in Amsterdam, he said:
"Ripple offers instant point-by-point conversations between the sender and the recipient of the funds. And this provides a real opportunity to mitigate most of the problems our customers are facing. "What do you think of these new Ripple partnerships? Comment in the comments section.