Ripple continues their positive trend as of late, as their distributed financial technology has been integrated into the payment portfolio of CGI. This Intelligent Gateway is one of the very first working integrations of Ripple technology in the payments portfolio world today.
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There has been a lot of talk of integrating blockchain technology with existing financial solutions. Especially when it comes to sending payments between financial institutions, there is a lot of processing time to be shaved off, while still providing a distributed solution. The recent announcement by Ripple and CGI is a testament to this possibility, as the Intelligent Gateway lets banks send global real-time payments.
While there is plenty of reason for celebration, there are always risks associated with any new technology that comes around. CGI and Ripple have been working together on this project since 2015, and now that Intelligent Gateway is here, there is no further need for a complicated integration process. In fact, CGI labels this project as “making access to Ripple as easy as flipping a switch”.
What the Ripple Intelligent Gateway does is minimizing the risks of this new technology for banks, while shortening the time-to-value at the same time. Moreover, this distributed ledger solution gives established financial players the opportunity to further explore new revenue opportunities, particularly when real-time global payments play a critical role.
This is great news for the financial sector in general, as banks are under tremendous pressure to keep innovating and offer new features to their customers. Distributed ledger technology has been a point of focus for quite some time now, but no financial institution has been successful in testing the concept in a live environment. The Ripple-based Intelligent Gateway has the potential to change all of that.
It is important to note Ripple and CGI are planning to keep experimenting with distributed ledger technology for the foreseeable future. Bringing benefits to bank customers all over the world is the primary goal of this partnership, and many different opportunities are waiting to be explored.
Source: Ripple
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