National Bank of Fujairah Partners with Ripple for Cross-Border Money Transfers

National Bank of Fujairah Partners with Ripple for Cross-Border Money Transfers

National Bank of Fujairah PJSC (NBF) announced its partnership with Rippl to enact easy and seamless cross-border payments through the RippleNet platform.. Through the blockchain solution, the bank's customers will now be able to conduct secure and real-time payments with clear end-to-end tracking of transactions.. "In a fast-moving environment, banks have to act with agility and constantly look for new and improved ways to service their clients.. Digitisation remains a key catalyst for change and as a customer-first bank, we understand the importance of leveraging blockchain technology to deliver seamless and frictionless experiences to our clients.. RippleNet will enable us to stimulate an enhanced payment experience that will allow our corporate clients to manage their finances in a more efficient way.. RippleNet enables the bank to actively leverage the Ripple cross border network and significantly enhance the user experience in the fund transfer.. The traceability and the speed of the execution of the transfers allow the customers to achieve substantial improvement in the transparency and effectiveness of the payments..