DH Corporation, a provider of technology solutions to financial institutions globally, has partnered with Ripple to deliver innovative payment capabilities. DHC (formerly Fundtech) says that by integrating Global PAYplus, its global payment services hub, with Ripple’s distributed ledger technology, it creates a foundation for further disruptive payments innovation.
It says that financial institutions using Global PAYplus will now be able to link to a secure distributed ledger system, accessible only with permission, to connect interbank networks, move money domestically and across borders in real-time, regardless of time zones or time of day, and access cheaper liquidity through a distributed network of market makers.
A demonstration of how the two solutions will work together features at the Sibos conference in Singapore from October 12-15 (stand I40).
“Distributed ledgers have the potential to radically transform the payment process,” said Gene Neyer, head of product management, global transaction banking solutions, DHC. “They remove the frictional costs and reduce the complexities of using multiple intermediaries; reduce or eliminate the reconciliation processes; and transform and enrich existing business processes by providing alternative sources of liquidity.”
“This investment in distributed financial technology demonstrates DHC’s continued commitment to payments innovation,” adds Neyer. “The payments landscape is rapidly evolving and DHC’s forward-looking solutions enable financial institutions and corporations around the globe to grow and compete.”