Today, March 2, according to Xrparcade, the National Bank of Fujairah (NBF) issued a press release announcing a partnership with Ripple. NBF will make fast and transparent cross-border payments through the RippleNet platform. Thanks to this blockchain solution, bank customers will now be able to make secure payments in real time with clear end-to-end transaction tracking.
NBF partnered with @Ripple, a blockchain company making cross-border payments easy through its RippleNet platform. This partnership will enable NBF to enhance the customer experience when transferring funds.https://t.co/CbnPraNRU4 pic.twitter.com/9zAYHZTe0I
— National Bank Of Fujairah (@NBFUAE) March 2, 2020
“In a rapidly changing environment, banks must act flexibly and constantly seek new and improved ways to serve their customers,” said Vince Cook, NBF CEO.
“Digitalization remains a key catalyst for change. As a customer-oriented bank, we understand the importance of using blockchain technology. This is important to ensure uninterrupted and safe interaction with our customers.
RippleNet will allow us to use a wide range of payment services. They provide our corporate clients with the opportunity to better manage their finances.
We always give the best deals to our customers. This is part of our commitment. We are the best financial partner for the business of our customers. We also do our best to meet their personal needs. ”
The bank will take advantage of RippleNet to serve its large client base in India. He will also make money transfers to India through Indus Ind Bank. RippleNet allows the bank to actively use the Ripple cross-border network. This greatly enhances the ability of users to transfer funds. The traceability and speed of transfers allows customers to significantly improve the transparency and efficiency of payments.
Don’t you think you’ve heard this news before? In September 2019, XRParacde wrote an article stating that NBF has joined RippleNet. Then it was the September issue of the Entrepreneur of the Middle East magazine that voiced this partnership:
“Thanks to the massive proliferation of blockchain technology,
NBF takes advantage of RippleNet to provide secure payments, including sending and receiving funds worldwide. NBF also enlisted the support of other banks to introduce Ripple in 2019. “
It seems that NBF is ready to use its partnership with Ripple to improve its money transfer services. And the beginning will be India.