SWIFT Head of Banking: “What Problems Are You Trying to Fix?”

[kreslik.news]

SWIFT declares on the website of its Global Payments Innovation service: “No other service can securely deliver hundreds of billions of dollars in payments around the world – timed in seconds.”

When one considers the existential threat which SWIFT is facing in the form of blockchain payment company Ripple, this sentence starts to sound more defensive than promotional.

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The threat has been becoming increasingly real lately in the wake of Ripple’s initiatives and partnerships. For example, Santander announcedin March its intention to become the first major bank ... (read more)