The National Bank of Fujairah (NBF) has announced its partnership with a leading blockchain remittance company, Ripple. The deal will allow easy and seamless cross-border payments via the RippleNet platform. The use of the RippleNet platform will enable the bank’s customers to be able to conduct secure and real time payments with clear end-to-end tracking of transactions.

NBF CEO, Vince Cook, stated that in a growing environment, banks have to act with agility and constantly look for new and improved methods to provide services to their customers. Cook said the bank understands the importance of leveraging blockchain technology to deliver seamless and frictionless experience to its customers.

Cook further added that RippleNet will enable the bank to stimulate an enhanced payment experience that will enable its corporate clients to manage their finances in a more efficient manner. He said the bank will always look for the best things for their customers to become the best financial partner for their business and personal needs.

NBF will be capitalizing on the RippleNet blockchain solution to conduct remittances to Indians through Indus Ind Bank. The solution will enable NBF to actively leverage the Ripple cross-border network and notably enhance the user experience in the fund transfer. RippleNet’s traceability and transaction speed allow the customers to achieve sustainable improvement in the transparency and effectiveness of payments.

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