By Solomon Odunayo
The SWISS Banking Giant and consulting firm, IBIS Management Associates, has recently announced the incorporation of RippleNet adapter into the SWISSRoute payment platform.
According to the report, customers will be able to access a gateway to the SWIFT international payment network via the SWISSRoute service developed by IBIS.
“With SWISSRoute you don’t need to acquire or license any of the proprietary SWIFT hardware and software required to connect to their network. Instead, you can leverage our secure cloud-based services. Our infrastructure is compliant with SWIFT’s security and business continuity standards and we manage all of the upgrades so that you can take advantage of all of the latest SWIFT capabilities,” the report stated.
IBIS added that using SWISSRoute, “your bank can connect to multiple banks through a single, secure channel. Once connected, streamline and automate your business flows by communicating with your banking partners using our global standardised ISO and proprietary format (MT) messages.”
SWISSRoute that was developed with Finastra uses the real-time interface of Alchemy. Going by the report, only customers that are opened to leverage RippleNet are those interested in modern payment solutions and operating in a multi-bank environment.
In the report, IBIS also stated that its customers will have the ability to connect with Ripple and Swift in their respective pockets, on the same platform. The firm further stated that the new development will give its customers unlimited banking options.
Through RippleNet, SWISSRoute users will be able to process payments, coupled with an “out of the box” banking integration.
Describing RippleNet, IBIS says, “The solution works within a large network of partners. This network enables financial institutions to efficiently engage with hundreds of counterparties and settle payments in real-time with a single API connection.”
The report also added that IBIS customers will gain access to secure, transparent, and fast cross-border payments service through RippleNet:
“Through RippleNet you will discover and be discovered by new partners that will expand your global banking reach. The ease of Ripple makes it possible to cross borders into new markets, new currencies, and new banking partners. Contact us today to find out more about the new SWISSRoute & Ripple bundle.”