The subsidiary of BNP Paribas, BNP Paribas Fortis has collaborated with Ripple partnered Earthport recently to improve its cross-border payments. Using the blockchain technology of Ripple, Earthport focuses to provide global bank payments in a feasible way under FAC.

Using the Earthport platform, the cost of international payments will be reduced. Similarly, the company explains that this will result in an improved transparency of the financial system. Also, the technology will improve the strength of the various frameworks of banks. The company will also provide assistance in cash-management, treasury and foreign exchanges.

Additionally, the bank will also meet the rise in customers’ demands by catering to the specific needs of each customer. Hence, the bank will be able to scatter its services to newer regions also.

The Earthport’s platform provides a larger outreach to the Global ACH Network. The network provides a platform for the transaction of debits and credits in batches, thus, improving the transparency, security and cost- efficiency of the services.

Regarding this collaboration, Amanda Mesler, CEO of Earthport also expressed her views. She explained that the company is hopeful to provide its clients with better services and fast payments just as in the case of domestic payments.

Similarly, Damien Godderis, Head of BNP Paribas’ Payments and Receivables Cash Management also expressed his views. According to him, the team is optimistic that the collaboration with Earthport will surely help them for greater good.