In an interview about emerging digital payment technologies, a senior executive at Bank of America praised Ripple as a partner. She emphasized Ripple’s adoption of the bank’s compliance processes and praised the ability to provide high quality services.
Ripple is praised for the potential for integration with banking services
Julie Harris, Head of Global Banking, Digital Strategy, commented on a podcast released by Bank of America. The focus of the discussion was on new payment options for companies and the increasing need for faster and more efficient methods.
On this subject, Harris said:
“… it is not about our platform and our capabilities, it is about you as a customer and the infrastructure you have and the ability for us to integrate, be it with platforms and capabilities that we have built or with partnerships that we have with companies like Ripple or Swift. “
These are fintechs with whom you work. They had met “all of our strict legal and compliance requirements” and were able to use banking as a platform to offer this to customers.Harris gave no further details on how Bank will use Ripple. Given that she mentions Swift in the same context, one can assume that cross-border payments are part of the plan.