IndusInd Bank said it is collaborating with Ripple to improve its global payment transactions. This will mean Ripple will be providing instant access in emerging markets such as India, Brazil and China. IndusInd Bank said in a statement India witnessed $65 billion move into the country in 2017. It also said it will harness the power of blockchain technology for facilitating global payments. This will help the bank to leverage the latest technology to build on its existing footprint in payments business through this alliance as the blockchain technology lowers both costs and transfer time for their customers. Ramesh Ganesan, senior executive vice president at the bank, said the plan is to provide an enhanced experience to the bank’s clients by delivering instant settlements and automatic confirmations on the back of highly secure infrastructure. This will deliver more value to remitters, recipients and our institutional partners across the world, he added.
