NBAD joins Ripple project

Banking Frontiers - - Banking In The Gulf -

The Na­tional Bank of Abu Dhabi has joined Ripple, the global dis­trib­uted ledger tech­nol­ogy project. It is the lat­est to join the fo­rum that is de­vel­op­ing a sys­tem to fa­cil­i­tate bet­ter and eas­ier cross-border trans­ac­tions. Us­ing dis­trib­uted ledger tech­nol­ogy, re­gional cus­tomers will be able to in­stantly trans­fer funds to ben­e­fi­ciary ac­counts. Ad­di­tion­ally, they will see their trans­ac­tions take place in real-time at all times. Ripple can make a big im­pact in the United Arab Emi­rates, as it is one of the top re­mit­tance-send­ing coun­tries in the world to­day. The Na­tional Bank of Abu Dhabi has said en­hanc­ing the cus­tomer ex­pe­ri­ence is of the ut­most pri­or­ity for the bank and blockchain tech­nol­ogy will play a big role in this re­gard.

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