Finastra has partnered with Ripple to supplement its payment solutions with the blockchain firm’s technology and bolster its cross-border capabilities.
Finastra clients will be able to connect and transact with the 200 members of the RippleNet partnership programme. In turn those partners will be able to access what the vendor calls its “vast global footprint”.
Customers will be hosted on Ripple’s cloud solution and have the option to use On Demand Liquidity, which leverages the digital asset XRP for cross border payments.
“Finastra is an established fintech player and works with a majority of the world’s top banks,” says Marcus Treacher, senior vice president of customer success at Ripple.
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“This partnership will enable Ripple to expand the reach and solutions for our partners, and the footprint of RippleNet while allowing customers to transact directly with each other.”
Riteesh Singh, senior vice president of FMS at Finastra, adds: “Finastra’s collaboration with Ripple is another strong example of Finastra’s belief that the future of finance is open, and it demonstrates our commitment to bringing the latest innovations and choice to our customers.”