DH Corporation (D+H), a provider of technology solutions to financial institutions globally, has collaborated with Ripple to develop advanced payment platforms by integrating its global payment services hub Global PAYplus with Ripple’s distributed ledger technology.
The two companies are hoping that they will be able to create a solid foundation for further disruptive payments innovation.
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D+H said that effective immediately financial organizations using Global PAYplus will now be able to link to a secure distributed ledger system 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.
D+H head of product management, global transaction banking solutions at Gene Neyer said: "Distributed ledgers have the potential to radically transform the payment process. 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 D+H’s continued commitment to payments innovation.
"The payments landscape is rapidly evolving and D+H’s forward-looking solutions enable financial institutions and corporations around the globe to grow and compete," Neyer added.
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By GlobalData
