Ripple has proven since its breakout that it intends to change the landscape of the financial industry. Ripple has the capability to save banks tons of money in remittance fees and the time it takes for transactions to be processed. While this is great in theory, in application how will the banks and those who prevent fraud keep up with the speed of the Ripple technology?
It's great that you and I can wire money across the globe in seconds. What happens if this money is stolen? How will banking investigators follow the money if funds can be cashed out across the the globe in less than an hour? If money is moving hands in seconds there is no way that financial institutions can keep up with the fraudulent activity.
Will Ripple also increase the amount of loss exposed at financial institutions? What type of security does Ripple's technology provide banks to fight fraud with increase transaction times? I'm all for faster transfers but one positive about a two day wire transfer is people have time to prevent fraud and banks suffer less loss. Fraud still happens, but Ripple's technology will face some unanswered questions as it gains success.