Major Swedish Bank SEB Reveals Future Plans on Using Ripple Products

Head of Transaction Services at Swedish bank SEB, Paula da Silva revealed some key future possible uses of XRP during recent interview. The major Swedish bank, SEB has been Ripple ’s partner for some time now. Meanwhile the recent updates by the company representative have been interesting comments on further use of Ripple’s products.   

On the current situation of mutual cooperation, Paula da Silva stated: “last year there was only one customer on it. Now we have ALL SEB customers doing inter-company transfers between Sweden and the US on the Ripple platform. So we have a couple of billion going through that”.

According to the official message, the key objective of the Bank to use Ripple’s products is to concentrate on settlement between Sweden and the United States. “The platform would be used for real-time transfers between Stockholm and New York. That would help clients to process real-time transfers between their accounts in Sweden and the United States”, said Paula da Silva.

In addition, it was informed that currently the bank is exploring all the possible ways to use the new technologies and Ripple products. For now all the clients have been reporting positive feedback on the experience with using the platform.

Paula da Silva further commented: “last year, there was only one customer on it then, now we have all customers of SEB doing inter-company transfers between Sweden and the US on the Ripple platform. So we have a couple billion going through that. We are trying to understand how that goes and what we would need to make it happen even better”.

The Next Step

Meanwhile Da Silva also hinted on the “next step” that the bank is looking at currently. This can be reportedly linked to the Ripple’s recent product of xRapid. Finally, the official representative concluded by expressing high hopes on further cooperation with Ripple.

She stated: “we are really proud to be working with Paula and her team at SEB. Super results from a great customer and Ripple partner”.

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