Block-chain technology is logically useful but it can only be employed if banks and corporate treasury departments can connect to the platforms which use the technology. Ripple offers a distributed financial technology platform which allows banks to transact directly with each other without the need for a central counterparty or correspondent. However, that can only be achieved if the different parties - banks and corporates - can connect to the platform. This is where companies like Volante come in, make it happen.
Volante’s Ripple connection
At SIBOS 2015 Volante demonstrated Ripple-readiness as a feature of the VolPay Hub product. Since then they have working with Ripple to develop a highly flexible integration solution designed to simplify the connectivity to Ripple, see figure below.
Volante Ripple Connect
Source & Copyright©2016 - Volante Technologies Inc.
This new solution has been specifically designed to accelerate the process of integrating banks and corporates with Ripple. No wonder that Steve Mollenkamp, Head of Channel Sales, Ripple, commented, “The combination of Volante and Ripple greatly simplifies banks' integration with Ripple distributed financial technologies. We view Volante as a critical partner for building Ripple's new real-time, data-rich payments network.”
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CTMfile take: Connectivity is everything: no connections = no business. This new Ripple Connection from Volante could open up the efficiencies of the Ripple payment network to banks and corporates alike. Even so, it will take time to build bank and corporate adoption.
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