A Superior Transaction Banking Experience
As part of the Ripple network, financial institutions can facilitate real-time settlement with complete certainty. Ripple’s distributed technology does not require a central counterparty to clear transactions and settle funds, so banks can transact directly with other banks. Ripple’s unprecedented visibility and traceability into the transaction allows banks to prevent settlement failures and detect errors in real time. Improved settlement certainty and risk reduction also allows banks to lower their operational costs.
To enable a superior transaction banking experience, Ripple founded the Global Payments Steering Group (GPSG), the world’s only blockchain bankers’ network with defined rules and governance. With payment standards, process support and a built-in community, GPSG offers banks a low-risk way to start using distributed financial technology today.
Benefits for Financial Institutions
- Minimized settlement risk through end-to-end traceability and real-time confirmation
- Ability to offer new and differentiated products and services with faster time to market
- Ability to transfer the liquidity requirement to non-banking participants who may have a lower cost of capital due to lower regulatory requirements