Big news for XRP owners from the information technology giant!
According to u.today, information technology giant IBM also offers cash management solutions to Canadian payments company Expertus Technologies Inc.’I bought it. Expertus had partnered with Ripple in 2016. The company will now operate as part of the IBM Global Business Services Unit.
Expertus, a cloud-based banking solutions provider, is able to process an average of $ 50 billion worth of transactions per day. These financial transactions, on the other hand, are directed by more than 1,000 financial institutions.
IBM said the payment solution provided by Expertus will transform IBM’s cloud-based payment system used by banks and other financial institutions, allowing users to remain innovative and competitive while demands from their customers strengthen.
Expertus will allow IBM to lower payment costs through its technology. Currently, banks devote about $ 100 billion of their budgets to developing payment systems with new technologies, according to data shared by IBM.
Expertus partnered with Ripple
In 2016, Expertus partnered with Ripple to conduct blockchain-based payment solution trials for banks. As part of the trials, the new solution was integrated into the existing payment infrastructure used by financial institutions at the time. It also aimed to reduce the costs of financial transactions for banks.
The solution offered by Ripple and Expertus was also intended to increase liquidity management for financial institutions and their corporate clients. The Expertus payment platform’s partnership with Ripple can enable FIS to offer its customers real-time payment execution, full transparency to fees and lower cost.