MoneyNetInt offers a broad spectrum of financial products for its global clients. One of its core services is the international transfer of money at competitive costs. This service is essential for any company that operates globally. That’s why the company joined the Ripple Net. Using Ripple’s global payments platform makes MoneyNet Int’s services more efficient, secure, and competitive. It also helps the company’s customers as it facilitates new business by reducing the cost in the current ones.
Raphael Golan, the Business Development Director of MoneyNetInt, affirms,
“We support our customers by facilitating their cross-border payments,”
He added,
“Many of them are based in different regions around the globe, but trade with customers in Europe and the US. By utilizing our localized payment network of banks and partners, they are able to process cross-border transactions for a far lower commission than they would in traditional local banks in each of these regions.”
After decades of being dominated solely by the SWIFT system, we’ve seen over the last five years how the global remittance environment has become much more competitive. MoneyNetInt has managed to stay on top of things and keep its place in the market by finding innovative ways to continue providing its customers with better value for their money. That’s why as last year began, the company decided that it was time to give blockchain technology a try.
Golan resumed,
“We knew that if we could cut transaction time from a few days to less than a day, while still reducing costs,”
MoneyNetInt Business Development Director went on to add,
“It would allow clients to invest more time and money in developing their business. We saw that blockchain technology could disrupt the traditional cross-border payments industry but couldn’t find a partner who could provide a professional and reliable platform until we met the Ripple team.”
As soon as MoneyNetInt saw the advantages in Ripple’s technology (faster transfers that are reliable, more secure, and at lower costs), it became quite enthusiastic about moving quickly towards adopting it. It took only two months of development for the company to be online in the RippleNet, and it was fast to bring six more partners to the party.
Avi Strarodubsky, Head of Business Development at MoneyNetInt, recalls the experience as an extraordinary one. In his view,
“We have established a great relationship with the team at Ripple from day one. With their extensive experience in the field, they understand the pain points of applying new technology to the traditional payments world and were responsive to our requests and needs.”
Starodubsky added,
“Having a partnership with Ripple is an added selling point when recruiting new customers,”
He continued,
“Being part of the RippleNet is generating more business, and we are constantly introduced to new partners. It also opens doors for relationships with banks and financial institutions around the world, as being a RippleNet member means speaking the Ripple “language,” which essentially reduces time to market dramatically.”
So now MoneyNetint has been able to give their customers better prices, faster speeds, additional security. In short, it’s gained the edge over many competitors, and its clients are getting more bang for their international buck. It’s a crucial element in the company’s ability to stay current. And that’s all because of their partnership with Ripple. That is what they say.
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