Ripple Official Speaks about Ripple’s positioning in Banking Sector and Offered Low Fees

Chief Marketing Strategist at Ripple, Cory Johnson recently spoke about banking field as well as Ripple’s planned positioning in the sector for the future. During the interview Johnson highlighted the low fees Ripple charges for its services stating that those are worth just a thousandth of what traditional and already established banks charge from their customers.   

As known, Ripple has been actively working towards introducing innovative tools, that aim at making bank transactions much faster and safer. Recent partnerships by the company make it visible that Ripple moves towards the mainstream financial sector. Last week it was announced that the company officially partnered with PNC bank which is one of the leading ones in the U.S.      

“I really do think that finance is the place where there was the most friction in our global economy. And the solutions presented by blockchain are so obvious that they’re really going to change the way money and value move in our society”, said Johnson who has been a vocal advocate of the new technology’s introduction to the financial sector.  

Cory Johnson also spoke about one of the most important competitors of Ripple. Brussels based Swift has been named as one of the major competitors for the company. In his official comment Johnson stated: “Swift already has a network consisting of thousands of banks working simultaneously. This makes it very difficult for a new fintech company to waltz into the financial ecosystem”.

He further on went back in touching the subject of fees while commenting on the major competitor’s strategy in the market stating that “Swift is taking new strides in the industry by reducing transaction competition time for 2 days to just a day”.

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