Transforming the financial sector needs to be done from within. This is one of the reasons as to why companies such as Ripple tend to be relatively successful over time.
In fact, it appears that a new company has begun trialing the company’s technology.
More Support for Ripple Emerges
Bottomline Technologies is a US finance giant experimenting with Ripple’s blockchain right now.
Their vision is to transform its software-as-a-service model for third-party providers.
Those providers can then host applications and make them available to customers.
By leveraging Ripple’s technology, the company can ensure a higher throughput or even target new business models altogether.
It is no coincidence that Bottomline Technologies is experimenting with this software stack at this time.
The startup has been working on building a Swift competitor which is designed to be faster and cheaper.
Under the hood, RippleNet can make a big difference, primarily due to its network spanning hundreds of banks and financial institutions.
For now, it remains unclear which solution or technology stack will be implemented exactly.
There are many different options to explore where Ripple is concerned, as competing with Swift will not be easy.
Even so, there are quite a few projects in the works which aim to topple the commonly used payment system.