“Transaction Banking is in trouble. Banks have already lost 40% market share globally for consumer-to-consumer (C2C) cross-border payments to non-banks. For consumer-to-business (C2B) payments, that number is 30%, for business-to-consumer (B2C) and business-to-business (B2B), around 5%.”

“Digital assets, for the first time, are affording small banks and non-banks with the ability to send money across borders without needing pre-funded destination liquidity. As new tech allows for financial institutions big and small to access a faster and cheaper global payments networks, size and history alone no longer matter. This means that global access is getting democratized and the hierarchy of financial institutions is going to be re-shuffled. In this new world, those at the top will win because of their customer experience.”

In a new report, Ripple’s Jinal Surti has published an article on the Ripple news website that discusses why transaction banking is not the future. Of course, Ripple would argue this point as they wish to provide enhancements to transaction banking, through blockchain technology, either way though Surti provides an interesting insight into the opinions of Ripple. According to Surti:Surti goes on to argue how services such as PayPal are offering more options to customers than traditional banks and that because of this, these sorts of services are gathering stronger and stronger customer bases. I suspect this is an element Ripple aim to capture, as their services become more and more popular. Surti then continues to bring digital assets into the equation, as expected of course. According to Surti:You can read the full post by Surti for yourself, here- https://ripple.com/insights/transaction-banking-good-enough-not-enough/ So what does all of this mean? Well, this of course justifies the work done by Ripple thus far and moreover, justifies Ripples stance within the cryptocurrency revolution. Through a belief that digital assets will take over, we can really appreciate the drive and passion Ripple have for the industry. This is hardly breaking news, however it is important that companies like Ripple produce publications like this, if only to provide assurance to their fans and investors. This, at least tells us that the future is still bright for Ripple. At the time of writing, Ripple XRP is valued at $0.61 and is down 7.73%. If anything, this news provides a distraction to the fact that Ripple XRP, isn’t having the best time at the moment. Of course, nobody is to blame for this, it’s simply just the organic consequence of the current bearish market.