LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Good News for NRIs, here is how making remittances just got easier, better

IndusInd Bank plans to harness the power of Blockchain technology for facilitating global payments. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Good News for NRIs, here is how making remittances just got easier, better
An IndusInd Bank advertisement. Photo: Youtube
Written By: ZeeBiz WebTeam
Updated: Tue, Feb 27, 2018
03:57 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Moody's affirms IndusInd Bank's ratings, revises outlook to stable Moody's affirms IndusInd Bank's ratings, revises outlook to stable
IndusInd Bank share price today: Sharekhan maintained a Buy rating with a revised price target of Rs 1340 IndusInd Bank share price today: Sharekhan maintained a Buy rating with a revised price target of Rs 1340
SBI, ICICI Bank, IndusInd Bank, Axis Bank share prices today: Valuations imply strong mid-term recovery says Nomura SBI, ICICI Bank, IndusInd Bank, Axis Bank share prices today: Valuations imply strong mid-term recovery says Nomura
ICICI Bank, HDFC Bank and Axis Bank: Morgan Stanley says Large Private Banks are entering Golden Age – Next leg of Rerating Cycle ICICI Bank, HDFC Bank and Axis Bank: Morgan Stanley says Large Private Banks are entering Golden Age – Next leg of Rerating Cycle
IndusInd Bank share price: Sharekhan maintains Buy rating with price target of Rs 1000 IndusInd Bank share price: Sharekhan maintains Buy rating with price target of Rs 1000

IndusInd Bank today entered into a partnership with Ripple, a blockchain solution enterprise, for facilitating payments into and outside the country.
 
Ramesh Ganesan, senior executive vice president at IndusInd Bank, said, “We plan to leverage the Ripple platform to provide an enhanced experience to our clients by delivering instant settlements and atomic confirmations on the back of a highly secure infrastructure."
 
Ganesan said, "Building a Digital platform that enhances client experience is a core part of our strategy and we are confident that our partnership with Ripple is another step in that direction. This will deliver more value to remitters, recipients & our Institutional partners across the world.”
 
With this agreement, RippleNet can now provide instant access in the emerging markets such as India, Brazil and China.
 
Patrick Griffin, Head of Business Development at Ripple, believes that blockchain solutions can provide much more impact to the customers of financial institutions in emerging markets.
 
Griffin says, "The payments problem is a global problem, but its negative impact disproportionally affects emerging market. Whether it’s an engineer in the US sending money to his family in India, or a small business owner in Brazil trying to move money to their suppliers
in another country, it’s imperative that we connect the world’s financial institutions into a payments system that works for their customers, not against them.”
 
Last year, India saw  a total of $65 billion move into the country and IndusInd Bank, which has significant interests in cross border remittances, plans to harness the power of Blockchain technology to facilitate global payments.
 
IndusInd also plans to  leverage the latest technology to build on its existing footprint in the payments business through this alliance.
 
Using Blockchain technology for payments, IndusInd customers can lower both costs and transfer times.
 
Also, by joining RippleNet, financial institutions are able to communicate information about a payment between each other, and settle payments immediately.
 
Ripple provides one frictionless experience to send money globally using the power of blockchain. With offices in San Francisco, New York, London, Luxembourg, Mumbai, Singapore and Sydney, Ripple has more than 100 customers around the world.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
IndusInd BankRippleRippleNetBlockchain solutionsBlockchain paymentsDigital transactionsCross Border RemittancesBanking & Financial ServicescryptocurrencyVirtual CurrencyBlockchain technologyIndusInd customers
RELATED NEWS
Moody's affirms IndusInd Bank's ratings, revises outlook to stable Moody's affirms IndusInd Bank's ratings, revises outlook to stable
IndusInd Bank share price today: Sharekhan maintained a Buy rating with a revised price target of Rs 1340 IndusInd Bank share price today: Sharekhan maintained a Buy rating with a revised price target of Rs 1340
SBI, ICICI Bank, IndusInd Bank, Axis Bank share prices today: Valuations imply strong mid-term recovery says Nomura SBI, ICICI Bank, IndusInd Bank, Axis Bank share prices today: Valuations imply strong mid-term recovery says Nomura
ICICI Bank, HDFC Bank and Axis Bank: Morgan Stanley says Large Private Banks are entering Golden Age – Next leg of Rerating Cycle ICICI Bank, HDFC Bank and Axis Bank: Morgan Stanley says Large Private Banks are entering Golden Age – Next leg of Rerating Cycle
IndusInd Bank share price: Sharekhan maintains Buy rating with price target of Rs 1000 IndusInd Bank share price: Sharekhan maintains Buy rating with price target of Rs 1000

LATEST NEWS

Glenmark Pharma share price: Expert says HUGE value unlocking; reveals two BUY targets

Vivek, Tamil actor and comedian, passes away at 59 in Chennai hospital

CISCE postpones ICSE, ISC exams 2021, Cambridge International cancels Class 10, 12 exams—details on CBSE, NEET too

SBI three-fold strategy for PPF, small saving schemes: Income tax rebate, Interest rates on deposits and more

India's Forex reserves: MASSIVE surge in gold reserves; despite Covid 19 'peak', overall fund up by $4.34 billion this quarter

Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range; says global markets, Q4 results to drive street

7th Pay Commission Latest News: 'Special Allowance' extended for These Central government employees

Cipla shares hit new high; Sharekhan pegs target at Rs 1100 as Pharma giant doubles Remdesivir production

Global Covid-19 caseload tops 139.6 million cases

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved