- Fujaira National Bank and Ripple have partnered to enable fast and easy cross-border payments for the financial institution’s clients.
- Through the cooperation, NBF seeks to improve its services and keep pace with innovations in the industry.
Through a press release, the Fujaira National Bank PJSC (NBA) has announced a cooperation with Ripple. The financial institution will use the RippleNet platform to offer fast, easy and cross-border payments to its customers, according to the press release:
Through this blockchain solution, the bank’s customers will now be able to conduct secure and real-time payments with clear end-to-end tracking of transactions.
The Fujairah National Bank PJSC is a member of the Union of Arab States (UAE), incorporated since 1982. The partnership with Ripple will enable NBF clients to use blockchain technology to execute transactions to India. The receiving bank for the transactions is the Indus Ind Bank. According to the statement, the user experience will be significantly improved.
NBF’s CEO, Vince Cook, said the bank seeks to offer the most innovative payment solutions to its customers. Cook added:
In a fast-moving environment, banks have to act with agility and constantly look for new and improved ways to service their clients. Digitisation remains a key catalyst for change and as a customer-first bank, we understand the importance of leveraging blockchain technology to deliver seamless and frictionless experiences to our clients.
RippleNet will enable us to stimulate an enhanced payment experience that will allow our corporate clients to manage their finances in a more efficient way. We will always look for the next best thing for our customers as part of our commitment of being the best financial partner for their business and personal needs.
Ripple partners with service provider Anzimo
As reported by CNF, Ripple has managed to secure several further cooperations in recent months. The payment company established a partnership with payment service provider, Anzimo, which will use the On Demand Liquidity (ODL) solution. Through Ripple’s solution, Anzimo will process transfers in the payment corridor to the Philippines.
Ripple’s payment corridor for the Philippines has shown a good performance on its XRP/PHP pair since the beginning of the year. According to data from the Liquidity Index Bot the corridor recorded an all-time high in transaction volume in mid-February of 5,526,762 XRP.
https://twitter.com/LiquidityB/status/1234463848721190912
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