The Brazilian financial institution, Performance Bank, works in the cloud of RippleNet. As the financial industry adjusts to a digital world, cloud technology solutions are playing a bigger role.
In this way, the cloud enables instant connectivity between financial service providers and their customers, on a global scale. Banks and financial institutions rely more on cloud technology to meet customer demands. Since, they evolve rapidly, adapting to an unpredictable and changing environment.
Ripple Cloud Announcement
Ripple is pleased to announce that Banco Rendimento is the first bank to take advantage of RippleNet technology, entirely in the cloud. They join dozens of other financial institutions like Azimo, MoneyGram, Pontual and Viamericas that are already harnessing the power of the cloud.
In the past six months, over 80% of new RippleNet customers have opted for cloud deployment. On the other hand, 30% of all RippleNet payments are now sent and / or received through the RippleNet cloud.
“Being hosted in the RippleNet Cloud allowed us to connect with financial institutions around the world that would otherwise have been more difficult to connect to from Malaysia” He says Adrian Yap, CEO and co-founder of MoneyMatch.
Yap explained that: “Using one set of APIs for all of our RippleNet connections. It allowed us to reduce our costs and speed up the integration process that would otherwise have taken days or weeks more. ”
The cryptocurrency company comments that by leveraging Ripple’s cloud solution. Customers increase efficiency and maximize their competitive advantage with faster innovation speed and time to market, while reducing total cost of ownership.
For this reason, the launch of RippleNet Cloud It allows companies to send and receive payments with an integration between all RippleNet clients. Which means less friction and more standardization at scale.
The Rendimento Bank evolves
Banco Rendimento expects to increase payment volumes in the first quarter of 2021, using the RippleNet cloud for its operation. Since joining RippleNet in 2019, Banco Rendimento offers customers more visibility, transparency and standardization in their balances. At the same time, it reduces your reliance on manual administrative processes, such as reconciliation checks.
“We migrate to the RippleNet cloud to give our customers the opportunity to connect with global partners easily, quickly, and with more transparency. We are seeing cloud services as a way to allow them to easily navigate, while they can present and exchange payments in the same environment with customers around the world, and Ripple is helping us with that. ”, He says Jacques Zylbergeld, foreign exchange superintendent of Banco Rendimento.
Likewise, Ripple comments that the increase in consumer demand for simple and instant applications, such as Uber. It is accelerating the technological advancement of current banking services.
Because global banks and financial institutions risk being left behind as the most nimble tech players adapt to new digital environments.
RippleNet offers the cloud as a possibility to scale faster and introduce new applications. Ripple’s cloud solution provides banks and financial institutions with a platform to meet these demands.
The world is changing to a new normal and banks and financial institutions that provide agile and digital methods are better positioned for industry leadership, today and tomorrow.