Ripple has announced a partnership with Finastra, opening access to 11,000 financial institutions connected to SWIFT. This is an important step in expanding Ripple's network.
Significance of the Integration for Ripple
SMQKE reported that Ripple's integration with Finastra allows access to 11,000 financial institutions connected to SWIFT. The researcher believes this significantly expands the scale of Ripple. The post notes that RippleNet currently connects around 200 institutions.
Diagrams and Connectivity Models
In the post, SMQKE attached four documents with diagrams illustrating how Finastra's systems connect to various payment networks. One of the diagrams shows how Finastra's service bureau links banks to both Ripple and SWIFT, offering services such as payment processing and sanctions screening.
Interpretation of the SMQKE Post
SMQKE claims that integration creates a significant extension of Ripple's potential reach by connecting indirectly to the 11,000 financial institutions that use SWIFT through Finastra. This collaboration could enhance the interaction between financial institutions already using the SWIFT platform.
The integration of Ripple and Finastra may significantly impact the level of accessibility to financial services, improving interaction between different systems and expanding Ripple's network.
