In an Interview on emerging digital payment technologies, senior employees of “Bank of America praised the” Ripple as a Partner. It emphasizes the Ripples the adoption of the Compliance processes of the Bank, and praises the ability to offer quality services.
Ripple is praised for the potential for Integration with banking services
Julie Harris, head of Global Banking, Digital Strategy, commented one of the Bank of America published a Podcast. The focus of the conversation, the new payment options for businesses and the increasing need for faster and more efficient methods were.
Commenting on this subject Harris:
“… it’s not about our platform and our capabilities, it comes to you as the customer and the infrastructure they have, and the ability for us to integrate with platforms and capabilities that we have built up, or with the partnerships we have with companies like Ripple or Swift.”
These are Fintechs, we work together. This would have fulfilled “all of our stringent regulatory and Compliance requirements,” and to be able to make use of the banking business as a platform to customer to offer this.
Harris called, no further details about how the Bank’s Ripple is to use. In view of the fact that you mentioned Swift in the same context, one can assume that cross-border payments are part of the Plan.
The full transcript of the Podcasts you’ll find here.
Statement complements the Ripplenet-rumors
There has long been speculation that the Bank of America plans to Ripples XRP to use. Already last October, Ripple confirmed that the works for 2016, with the Bank – but admitted that this was part of a pilot project.
In the past year, the banking giant was at least a Ripple-specialists, known but gave no further details.
The most important rumor that Bank of America plans to start with the use of the RippleNet. This rumor should be true, such a step might have a massive impact on the platform.
However, there are also other means by which the Bank could be the Ripple-use technology – so it’s still to early to a conclusion.
Bank of America has so far made no official announcements about their plans for Ripple. Therefore, the statement of Harris is remarkable.
There is no doubt that the old banking industry, the use of the Distributed-Ledger-researched technology for a variety of applications, however. Therefore, it is for Blockchain Assets such as Bitcoin as well as is sure that you will be in the near future to a Mainstream Element of the global financial system.
And in this context, Ripple is in a strong Position to move forward.