Jump to content

The U.S. Path to Faster Payments report


 Share

Recommended Posts

They did quite well, but as you can see: FIS/The Clearing House (TCH) did better.
TCH is focussing primarily on a new real time payments system for the US, which suits the use case and criteria of the FED better I think.  

More info on FIS/TCH:

https://www.fisglobal.com/About-Us/Media-Room/News-Releases/2016/FIS-and-The-Clearing-House-Prepare-RealTime-Payments-to-Go-Nationwide

Link to comment
Share on other sites

1 minute ago, g00p said:

Yeah, not approved or anything, just on to the next round with some nice praise. 

Ripple played a leading role in establishing this future vision for payments. Early in the process, I was elected to serve on the Steering Committee to represent tech companies and provide expertise on emerging technology and blockchain.

That about sums it up. Still a long way to go, but possible on the best possible track at the moment.

Link to comment
Share on other sites

2 minutes ago, Ylod said:

Ripple played a leading role in establishing this future vision for payments. Early in the process, I was elected to serve on the Steering Committee to represent tech companies and provide expertise on emerging technology and blockchain.

That about sums it up. Still a long way to go, but possible on the best possible track at the moment.

It has been a tremendous honor to to participate in the Task Force and serve on the Steering Committee. Ripple would like to extend a sincere thanks to the Federal Reserve for supporting this effort and the Task Force for its commitment and helpful input on our proposal. We’re eager to see the future of payments come to life.

Link to comment
Share on other sites

After reading a bit more in the report, I'm changing my earlier assumption. The above image only tells us to what extend the Task Force agreed with the Qualified Independent Assessment Team (QIAT), an external team who did their own assessment of the proposals.  

It says nothing about the actual scoring.

Link to comment
Share on other sites

Ripple Stands Out for Speed and Transparency of Payments

The Task Force received 22 proposals, 16 of which completed the process, including Ripple.

Ripple put forth the Interledger-based solution that enables improved messaging and tracking for real-time payments – standing out as the only proposal focused on solving today’s friction with cross-border payments.

The McKinsey assessment gave high marks to Ripple noting:

“Ripple enables FIs the ability to operate cross-border payments faster than the 2-4 days common today.”

“The solution bolsters the certainty of the cross-border payment experience by providing end-to-end transaction visibility to banks, as well as settlement confirmation.”

“Ripple enables more transparency in the total cost of a payment to the payee prior to authorization, if participating banks are willing to provide this transparency.”

 

16 companies vying for the spot and RIPPLE stood out.

Link to comment
Share on other sites

  • karlos featured this topic

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.