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.”
* * *
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.
Data connectivity made easy by Volante Technologies’ new VolPay Channel
VolPay Channel suite of payment software and electronic banking connectivity solutions can fully integrate all your ERP platforms into a single coherent whole
Bank connectivity - which is most cost-effective: Host-2-Host or SWIFT?
Neither is automatically the cheapest, it all depends ………. Remember: SWIFT figures show that only 45% of Fortune 500 corporates are connected direct to SWIFT
Volante Technologies VolPay Hub: centralized digital payments orchestration hub
New hub will enable corporates to cut their implementation and maintenance costs for payment/collection factories and cost-effectively take advantage of all new payment systems