Ripple sent a reminder to those users who might have missed the game-changing potential of biometrics for cryptocurrency users.
In the latest episode of Block Stars, Ripple CTO David Schwartz spoke to the founders of Keyless, a deep-tech cybersecurity company. The innovative solutions from Keyless in terms of authentication and digital identity will have a big impact on the cryptocurrency experience.
Marcus Treacher expressed that more than 80% of the customers are opting for RippleNet Cloud, ever since launching. He further stated that bringing Banco Rendomento on RippleNet cloud to be a major validation for the future of cloud-based banking.
The cloud technology is already playing a very important role in making it possible to have instant connectivity between financial services providers and their customers at a global scale.
Sydney Ifergan, the crypto expert tweeted: “With the pandemic and unpredictable financial trends very soon more of financial institutions will realize the power of RippleNet Cloud and similar technologies.”
Financial institutions who tie up with RippleNet are only improving on their competitive advantage by being able to facilitate faster speed in remittances eventually contributing to increased efficiency of customers.
Banco Rendimento, the major bank in Brazil dealing in huge volumes are expecting to increase their payment volumes by the first quarter of 2021 by making use of RippleNet Cloud.
Banco Rendimento have to state that ever since joining RippleNet in 2019, they are able to provide customers with more visibility, transparency and standardization on their balances, further reducing their reliance on manual back-office processes like in reconciliation checks.
Ripple (XRP) Less Friction More Standardization
The pandemic has made it very clear that the world is moving towards a new normal. The banks and financial institutions who will flourish are going to be those who facilitate digital options.
Ripple insights report that by launching RippleNet Cloud, they are able to enable businesses to be able to send and receive payments with just one integration amongst all their customers on RippleNet. Thus, providing for less friction and more standardization at scale.
XRP is improving on its ability to establish a global standard in remittances. Though one bank making it might not sound a big thing, when more of financial institutions join the bandwagon it will be possible to see the kind of difference the cloud technology is able to make in the remittance market. It helps save costs in infrastructure.
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