RippleNet has been joined by yet Another Bank – The National Bank of Fujairah


The National Bank of Fujairah has now joined the RippleNet as a partner announcement was made public on 2nd of March.
Ripple’s RippleNet platform will allow the bank to be able to make seamless cross border payments.

The National Bank of Fujairah made a press release that announced its partnership with Ripple, on the 2nd of March. Ripple’s RippleNet platform will allow the bank to be able to make seamless cross border payments. The bank’s customers will now get a secure and real-time payment platform with the feature of end to end tracking of every transaction, all thanks to the Ripple’s blockchain solution.

The CEO of the National Bank of Fujairah, Vince Cook, said that in a very fast-moving environment the banks

have to act with extreme agility and have to continually look for new and improved ways to provide service to their customers.

Digitisation is the key catalyst for change, and as a customer-centric bank, they understand the importance of leveraging blockchain technology that enables them to deliver seamless and frictionless services to all of their clients. They can now enhance the payment experience that will allow them to be able to manage their finances more efficiently with the help of RippleNet, added the CEO.

Ripple Tie-up with UAE based Bank

The National Bank of Fujairah is a full-service corporate bank that is headquartered in the United Arab Emirates and was founded 38 years ago in 1982. The services it offers are corporate, commercial banking, trade finance, treasury, and it also provides personal banking options. It is one of the few banks in the UAE that offers Sharia-compliant services too. The bank has multiple branches spread across the UAE. Its headquarters are in Dubai and Fujairah.

Created by Ripple Labs Inc., Ripple is a currency exchange and also a real-time gross settlement system network. It is based on a distributed open-source protocol. It supports all the tokens representing fiat currency, crypto, and commodities.

The National Bank of Fujairah made a press release that announced its partnership with Ripple, on the 2nd of March. Ripple’s RippleNet platform will allow the bank to be able to make seamless cross border payments. The bank’s customers will now get a secure and real-time payment platform with the feature of end to end tracking of every transaction, all thanks to the Ripple’s blockchain solution.

The CEO of the National Bank of Fujairah, Vince Cook, said that in a very fast-moving environment the banks have to act with extreme agility and have to continually look for new and improved ways to provide service to their customers.

UAE based Bank to bring Digitalisation with Ripple’s Solution

Digitisation is the key catalyst for change, and as a customer-centric bank, they understand the importance of leveraging blockchain technology that enables them to deliver seamless and frictionless services to all of their clients. They can now enhance the payment experience that will allow them to be able to manage their finances more efficiently with the help of RippleNet, added the CEO.

The bank is focusing on capitalizing on the benefits of RippleNet to service the large Indian customer base mainly. They plan to do so by planning remittances to India through the Indus Ind Bank.

NBF had partnered up with RippleNet earlier in 2019, too, and had also tweeted about the same.

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