Research by SMQKE highlights Ripple's advancements in utilizing XRP to transform traditional financial messaging.
SWIFT Messages and Their Drawbacks
According to SMQKE, SWIFT messages operate like one-way emails, making it difficult for transactions to be fully settled until each party manually screens them. This separation between messaging and settlement introduces delays and additional administrative steps.
Integration with Banking Infrastructure
SMQKE points out that Ripple integrates with existing banking databases, enabling faster communication. This approach provides transparency and operational efficiency, allowing banks to exchange updates and confirmations in real-time.
ISO 20022 Compliance
SMQKE emphasizes that Ripple’s technology is ISO 20022 compliant, ensuring that payment messages include all required transaction data while remaining compatible across various banking systems globally.
Ripple's technological advancements and the use of XRP offer new solutions for accelerating financial transactions, enhancing traditional messaging methods.
