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IT giant continues to Ripple’s software solution for cross-border payments

46700fb8d07c7da36bab81479d0cd9dd - IT giant continues to Ripple's software solution for cross-border payments

IT giant continues to Ripple software solution for cross-border payments

Home News IT giant continues to Ripple software solution for cross-border payments

Of
Marcel Knobloch –
08.04.2019

One of the biggest IT consulting companies in the world, among its customers, such as Citibank UK, General Electric or Microsoft, has created a new opportunity for the use of Ripple’s payment solutions to be incorporated into your service offering and make the Big players of the industry.

Tata Consultancy Services (TCS), which is in addition to the already mentioned Needs more heavyweights of the tech industry to its customer base, achieved on the financial year of the 31.03.2018 a Umsuatz of 19 billion USD. TCS provides tailor-made complete solutions for every need and company size, also in the field of payment processing across national borders. The “Quartz Blockchain solution” aims to unterüstzen organizations in different domains, the Blockchain is useful and effective for your company.

The possibilities are diverse, because the payment system can be used via an API to the Blockchain-based Payments platform. TCS announced that the platform is associated with RippleNet and customers can benefit from the advantages of the payment solutions (freely translated):

With the solution of Quartz Cross-Border Remittances banks / payment systems can connect to newer DLT-based payment infrastructures (such as RippleNet), cross-border FX remittance transactions.

The Quartz Gateway connects the TCS BaNCS Payments System seamlessly via APIs with the Blockchain-based Payments-platform and supports services in connection with the conclusion of FX services as well as the direct debit for the accounts of the beneficiaries. In this approach, existing core systems, which are used in banks and other payment institutions to learn, no Changes in the connection to the Blockchain platform, since this complexity is absorbed by the Quartz Gateway.

TCS is part of Tata Group, a multinational group with headquarters in Mumbai, India. According to the company, the Bank palttform TCS BaNCS supports more than a quarter of the world’s population and serves more than a billion accounts. The Blockchain solution, Quart is a APo, making a connection to existing distribution lists, payment networks, and Blockchain platforms, in order to give companies the possibility to implement a resolution of Rücküberweisngen in real time and the transaction costs to be reduced significantly. In the process, Transfers are executed immediately, and the tracking is guaranteed at any time, furthermore, it increases the liquidity and reduces the audit burden. Since March, the company uses the Azure Blockchain-Cloud Microsoft n the Corda Enterprise Blockchain platform of R3.

To date, TCS has not announced what the software solution of the Ripple is in the Detail, which is used in practice.

Featured Image: Blue Planet Studio | Shutterstock

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