Collaboration will enable financial institutions using Finastra’s solutions to make fast and reliable cross-border payments.
Ripple, the enterprise blockchain solution for global payments, and Finastra have teamed up to offer Ripple’s blockchain technology through Finastra’s payments solutions to support fast cross-border payments.
As part of the collaboration, Finastra’s customers will be able to connect and transact with RippleNet partners – more than 200 financial institutions worldwide – and in turn, partners can access Finastra’s vast global footprint. Users will also be able to send international payments with end-to-end tracking and visibility into fees, delivery time and status.
Finastra’s hundreds of customers will have access to RippleNet, Ripple’s global blockchain payments network, to provide faster, cheaper and more reliable payments.Customers will be hosted on Ripple’s cloud solution which will significantly improve speed of integration with other network partners and allow for faster upgrades. They will also have the option to use On-Demand Liquidity, which leverages the digital asset XRP for cross border payments.