As the financial industry adapts to a digital world, cloud technology solutions are playing an increasingly important role. They enable instant connectivity between financial service providers and their customers on a global scale. Banks and financial institutions rely more on cloud technology to meet rapidly changing customer needs by adapting quickly in an unpredictable and changing environment.
Ripple is proud to announce Banco Rendimento as the first bank to use Ripple’s technology entirely in the cloud. They are joining dozens of other financial institutions including Azimo, MoneyGram, Pontual and Viamericas who are already leveraging the power of RippleNet Cloud.
In the past six months, more than 80% of new RippleNet customers have chosen to deploy to the cloud, and 30% of all RippleNet payments are now sent and / or received via the RippleNet cloud.
“RippleNet’s cloud hosting enabled us to connect to financial institutions around the world that would otherwise have been more difficult to connect from Malaysia,” said Adrian Yap, CEO and co-founder of MoneyMatch. “By using one API set for all of our RippleNet connections, we were able to reduce our costs and accelerate the integration process that would otherwise have taken days or weeks longer.”
By using Ripple’s cloud solution, customers increase efficiency and maximize their competitive advantage through faster innovation and faster time to market – while reducing total cost of ownership. With the introduction of the RippleNet Cloud, companies can send and receive payments with a single integration of all customers on RippleNet. This means less friction and more standardization on a scale.
Banco Rendimento, the largest-volume bank in Brazil, expects payment volumes to increase using the RippleNet Cloud by the first quarter of 2021. Since joining RippleNet in 2019, Banco Rendimento has been offering customers more transparency, transparency and standardization of their balances while reducing their reliance on manual back-office processes such as reconciliation checks.
“We switched to the RippleNet Cloud to give our customers the opportunity to get in touch with global partners easily, faster and more transparently. We see cloud services as a way to simplify navigation while transferring and trading payments in the same environment with customers from all over the world, and Ripple is helping us with that, ”says Jacques Zylbergeld, FX Superintendent at Banco Rendimento.
The increasing consumer demand for instant, simple apps like Uber is accelerating the technological advancement of today’s banking services. Global banks and financial institutions are at risk of falling behind as faster tech companies adapt to new digital environments. Since the RippleNet Cloud offers the possibility of scaling faster and introducing new applications, the cloud solution from Ripple banks and financial institutions offers a platform to meet these requirements.
The world is transforming into a new normal and those banks and financial institutions that offer agile, digital methods are better positioned for industry leadership – today and tomorrow. If you want to start RippleNet Cloud, contact us.