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General Manager, Amex confirms testing ripple

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I think this is what they are saying:

Quote

 

Blockchain is absolutely an option we are looking at, to give you a sense: we have invested in a fintech lab based on blockchain technology, just to understand how to leverage these better.

We did a pilot/test partnering with Santander locally and with Ripple to just do cross-border transactions because cross-border transactions continue to be complex and slow. And in a matter of seconds through this test our clients were able to transfer funds in a very transparent seamless way from one part of the world to the other.

Interviewer: Interesting. The disruption has been more for the banking rails right?

Exactly. So more to come, there is still a lot of things that need to get addressed with blockchain as a technology but it is very promising.

 

Personally I think it is also quite funny that he explains how they are partnering up with many fintech start-ups "because in these days and age where we as a company huge investments every year in technology just to keep going. There are companies who can do the emerging technology faster and in a more inexpensive way than us, and we need to partner with them."

Swift is in a similar situation but seems to be missing the boat, not embracing the future because of ignorance will result in defeat.

 

Edited by Uloveme

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23 minutes ago, djdhrubs said:

For some reason the volume is so low even at maximum I can't clearly hear what he's saying. But wasn't Amex confirmed as an xCurrent user ages and ages ago? Or is this xRapid related?

Amex joined Ripplenet late 2017. Ripple made that announcement on November 16th of that year. It's really encouraging  to hear an employee of Amex saying that the tests were very positive and that they will continue. Amex mentioning that Ripple technology enables them to move funds within seconds from one part of the world to another part of the world is really awesome. It's not clear to me at this point what Ripple product/products have been tested.

Edited by Rey

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I'm sure it's xCurrent. BAML's Pilot and Product Rollout (which is only xCurrent atm) is largely going to involve American Express if i'm right in putting two and two together. 

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2 minutes ago, Nohut said:

They started with xCurrent. 

I dont think this is xRapid.

It won’t be xRqpid anywhere before corridors are set in both ends; sending and receiving. Exchanges that are used need to have prefunded their accounts in all banks that are related to allow the settlement flow seamlessly before liquidity can be directed through them.

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49 minutes ago, NMNR said:

I'm sure it's xCurrent. BAML's Pilot and Product Rollout (which is only xCurrent atm) is largely going to involve American Express if i'm right in putting two and two together. 

Well unless I'm mistaken it doesn't matter whether it's xRapid or xCurrent, both can now use XRP.

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37 minutes ago, djdhrubs said:

Well unless I'm mistaken it doesn't matter whether it's xRapid or xCurrent, both can now use XRP.

The functionality you're referring to is only included in a recent version of xCurrent. I don't think that Amex has tested that version yet (apart from all the additional organizational and regulatory implications that using that functionality probably would bring to the table).

Edited by Rey

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