DH Corporation (“D+H”) has announced its partnership with Ripple and now the company aspires to work on delivering innovative payment capabilities by integrating Global PAYplus which is its global payment services hub with the help of Ripple’s distributed ledger technology.
With this, the two are hoping that they will be able to create a solid foundation for further disruptive payments innovation.
DH is a name to reckon with and is a leading financial technology provider on which world’s major financial institutions rely while Ripple provides global financial settlement solutions to enable the world to exchange value like it already exchanges information – giving rise to an Internet of Value (IoV).
With effect from now, the financial institutions which are using Global PAYplus will be able to link to a secure distributed ledger system (which will be accessible only with permission), to connect interbank networks, move money domestically and across borders in real-time (regardless of time zones or time of day) and access cheaper liquidity through a distributed network of market makers.
Gene Neyer, head of product management, global transaction banking solutions, D+H (formerly Fundtech) added that “distributed ledgers have the potential to radically transform the payment process.”
Neyer also added that “ the distributed ledger remove the frictional costs and reduce the complexities of using multiple intermediaries; reduce or eliminate the reconciliation processes; and transform and enrich existing business processes by providing alternative sources of liquidity.”
To make people understand as to how the two solutions would work, a demonstration will be made at the Sibos conference in Singapore from October 12-15 (stand I40).
Ripple is also making news of late, as it has recently announced two new solutions called FX Market Making and Cross-Currency Settlement.
DH Corporation again came in the spotlight when it had increased its position on the 2015 IDC Financial Insights FinTech Rankings, moving to 21st on the list and also when it had rebranded Fundtech as its new Global Transaction Banking Solution (GTBS) business.