Nordea CEO Casper von Koskull in finnish financial magazine Kauppalehti. Translated with google translator.
However, major changes are anticipated on the payer side. Information is already flowing in the world for seconds now, but thousands of billions of billions of dollars are slow. Bank transfer from Helsinki to New York costs extra and still takes days. "Payments are, of course, the greatest potential, the volumes are the biggest," von Koskull stresses. The Temenos system will be compatible with faster and cheaper payment solutions based on block technology. They are challenging the decades of banking SWIFT payment system. One of these is the American company Ripple's technology. The Cryptovaluation created by the company acts as a bridge in cross-currency transfers and eliminates the need for inter-bank so-called backlogs. Ripple promises banks savings of up to 60 percent. "Ripple has already launched its own technology, which is being introduced in Japan. Everything is done in co-operation with banks, such as the R3 consortium. It is of enormous importance to us. " Since 2015, Nordea has been involved in an international network run by an American company R3. Also included are Citi, Deutsche Bank, HSBC and Goldman Sachs and Finland OP. R3, which co-operates with Ripple, has a stock option in billions of units for Ripple xrp-cryptographic currencies.