Ripple helps I-Remit provide low cost, real-time cross-border payments around the world.
The largest Filipino-owned non-bank remittance service provider in partnership with more than 100 financial institutions in 30 countries across the globe.
Goal
To help partners improve their payout capabilities and streamline I-Remit’s internal treasury management by reducing the cost and transaction times of cross-border payments.
Solution
Ripple’s payments solution helped I-Remit reduce cross-border payment costs for their remittance partners and customers across the globe. In addition, I-Remit uses Ripple’s On-Demand Liquidity solution for internal treasury. This enables 24/7 access to liquidity, reducing their need to pre-fund destination accounts.
As one of the earliest adopters of Ripple’s ODL solution, we’ve been able to scale and accelerate our extensive payout capabilities in the Philippines. We’re excited for this next chapter of our well-established partnership with Ripple to further utilize ODL for treasury management and provide the best possible service for our customers.
Harris D. Jacildo, Chairman and President of I-Remit
Providing accessible remittances to customers globally
The largest non-bank remittance services provider in the Philippines, I-Remit has been supporting the remittance needs of overseas Filipinos for 2 decades. As an early adopter of RippleNet’s On-Demand Liquidity (ODL) solution, I-Remit leverages the digital asset XRP as a bridge currency to eliminate the need for pre-funding in cross-border payments. As a result, cross-border payment costs have been reduced for I-Remit’s 2 million+ customers worldwide.
