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The partner of Ripple Santander announced that he acquired the Albert app, charges and billing dedicated to micro-businesses and unique traders.
The latest acquisition, according to Santander, is to support and improve the 5.7 million small business owners in the United Kingdom.
Talking about development, Lindsey Argalas, head of digital and innovation at the Santander Group, concludes that "it is our common belief that small business owners must have access to tools that help them work smarter and offer the same instant, seamless and personal experiences in finance, as they enter their daily lives ".
Now, Santander has entirely acquired the technology of Albert and his entire team. However, the company did not indicate the amount used in the purchase of the platform. Meanwhile, the bank indicates that the app must continue to function as it was.
The Santander Group intends to obtain rescue funds from the Royal Bank of Scotland in other countries to build a digital bank for SMEs. The bank will be able to offer loans and also to help with payroll and pensions.
At the beginning of this month, the Santander app with Ripple technology, OnePay Fx received the 2018 Financial Innovation Award in "Innovation in the design of products or services, Business and Corporate".
The award came as a result of the performance and services provided by Ripple's xCurrent Employee application launched to provide a fast cross-border remittance service to several countries and regions around the world.
Marcus Treacher, Ripple's Global Head of Strategic Accounts, who talked about the success, he said
"Santander wins the 2018 Financial Innovation Award for #onepayfx, their international payment solution that runs on @Ripple." We are delighted with this news! "
Ripple is doing very well in the cross-border remittance sector. The start blockchain has collaborated with many banks and various startups, thus increasing the trust of the company.
Recently, one of Israel's largest financial services companies announced that it is now the official partner and representative of Ripple in the country.
