Ripple and Expertus Launch Blockchain Pilot for Banks to Improve Liquidity Management

Expertus and Ripple announced that they have jointly launched a pilot project for financial institutions to test the capabilities of blockchain technology and Ripple's distributed financial technology.

The pilot project provides financial institutions with a streamlined way to test blockchain technology with minimal disruption to business processes and integration efforts. The solution can be integrated into the bank’s existing payment system without requiring any changes to the bank’s systems.

The combination of the Expertus payment platform and the Ripple distributed ledger will enable financial institutions to offer their customers a real-time payment, transparent fee system and lower costs. The solution will also improve liquidity management for banks and their corporate customers, paving the way for global payment networks and settlements.

Jacques Leblanc, President of Expertus, said:

“Through this pilot project, we intend to help financial institutions quickly evaluate this new technology without the risk of requiring a large-scale IT overhaul. Several banks have already joined the project and have realized the benefits of blockchain technology.”

Steve Mollenkamp, ​​Head of Channel Sales at Ripple, said:

“Having partners like Expertus on board makes it easier for us to educate banks and their customers on the benefits of distributed financial technologies. This latest pilot will help grow the Ripple network and enable even more financial institutions to improve their cross-border payments.”

The solution, jointly supported by Expertus and Ripple, will be demonstrated at the EBAday forum on June 7-8 and the Canadian Payments Panorama conference on June 15-17.