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Vivek Awasthi, Currencies Direct's Chief Information Officer, spoke about Ripple and xCurrent and how the San Francisco-based company is expanding in India. Ripple & # 39; s xCurrent allows institutions to track payments and resolve them.
Awasthi said that Ripple's products and services improve remittances and show how this technology can improve and improve the customer experience. Basically, Ripple's products help companies reduce the time and cost of cross-border payment transactions.
India is a very important corridor for Ripple, which is not only expanding in Asia, but also in Latin American markets. With Awasthi he explained that blockchain allows customers to check the status of their funds at every stage.
By the way, he commented:
"Our partnership with Ripple shows the future of international payments and the way technology can dramatically improve the customer experience, when you think about the vast amounts of money being transferred around the world and in India in particular, It is right that customers have the opportunity to check the status of their funds at every stage. "
Furthermore, he went on to explain that there are several roles in the industry that can be benefited Ripple. Awasthi said that consumers, the chief financial officer or the controllers want to have their money visible at all times. This is why xCurrent is such an important product for companies.
Ripple tested the xRapid product and was able to reduce transaction times and costs between 40% and 70%. This has a direct impact on customers, who will see that they have more accessible services.
Currencies Direct has also tested the xRapid product. The company started working with him in 2017. Brian Harries, an official who works at the Indian company, said he was very happy to be one of the first to adopt this technology in the financial world.
Ripple has worked with these products in many countries and with several companies including MoneyGram or Western Union.
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