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The just concluded FIA Awards 2018 Banco Santander has announced as the winner of the Financial Innovation Award for the integration of Ripple in OnePayFX.
The Spanish multinational financial services company has been working with Ripple since 2015 to integrate RippleNET technologies into its services. The event, which was held in London at the Hilton London Bankside, saw a couple of blockchain projects gain recognition for their revolutionary developments in the financial services sector.
OnePayFX integrates RippleNET
Banco Santander Bank has collaborated with Ripple Inc. for the Santander OnePayFX (OnePayFX for short) project again in April of this year.
The partnership aims to provide its customers with a fast and efficient payment system and instant solutions for international transfers. The FIA2018 The winner was launched in Europe (Spain and Poland), in the United Kingdom and in Brazil through the xCurrent platform on RippleNET.
In addition to instant settlement, the OnePayFX service will show customers the exact amount to receive before sending the money. Ana Botin, executive president of Banco Santander, had this to say OnePayFX:
"Our goal is to help thousands of people using international payment services every day, adding more currencies and destinations in the coming months."
In 2015, Santander announced a $ 200 million loan to Ripple through its venture capital fund. This happened a few months after the two collaborated on the integration of RippleNET technologies. Since then, the financial services institute has financed several projects in areas related to big data, advisory, mortgages and SMEs.
Ripple Inc. has worked with over 100 banks around the world to integrate its RippleNET technologies. Currently, xCurrent is integrated into banks to provide instant solutions. Other products include xRapid which uses XRP to provide constant liquidity and xVia, which allows easy access to RippleNET for users.
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