Ripple announced on Wednesday (October 9) a collaboration with UK-based Finastra, reportedly the third-largest FinTech firm in the world, to allow Finastra's customers (financial institutions) access to RippleNet, Ripple's global payment network, for faster, cheaper, and more reliable cross-border payments.
In case you have not heard about Finastra, here are a few facts about the company:
It was formed in 2017 as the result of the merger of Misys and D+H; (this merger came after the March 2017 acquisition of D+H by Vista Equity Partners, which already owned Misys)
It's global head office is in London, but it has over 60 offices located around the world; and
the company has an annual revneue of around $1.9 billion, around 10,000 employees focused on financial software, and over 9000 banks and other financial institutions worldwide ("including 90 of the top 100 banks globally").
According to Ripple's blog post, this partnership will allow Finastra's customers to do business with the over 200 members of RippleNet, and it gives Ripple's customers access to "Finastra’s vast global footprint."
Marcus Treacher, SVP of Customer Success at Ripple, had this to say: Read more...