Several banks across the globe are trying out the Ripple to power their transactions. And now Santander joins them.
Earlier this year Santander CEO Nathan Bostock confirmed that the company was testing Ripple's core platform to reduce transaction times, and now the plans expand to full utilization of RippleNet and xCurrent to speed up international payments.
The newest service has been in testing for over eighteen month, according to the employees. And now, the new app will allow for the cross-border payments to be settled in less than twenty-four hours and all the parties involved will be able to see the processing fees right from the beginning.
The primary focus on the app's launch will be the bank's clients in Europe and Southern America, with particular attention on Spain, Brazil and the United Kingdom. Also, together with the app the new wallet, personal finance manager and interactive help-desk will be debuted.
The launch is planned somewhere in the first half of the year, according to the Ripple executive Brad Garlinghouse.