Ripple/Reisebank
Video Transcript
Cross-border payments within
seconds are already possible in our
high-tech world ...
... and there‘s a lot of talk in the
financial marketplace about what
FinTech solutions work for which use
case. So: Which are the best? And
what are their benefits?
ReiseBank, an expert in currency
exchange, has developed its own
fast, low-cost cross-border payment
system using Ripple - a Blockchain
based payment technology.
To build its solution, ReiseBank was
on the lookout for someone with
deep expertise in Blockchain,
payments, and Ripple and found its
partner of choice and trust in
Accenture.
Let’s see how their solution works.
Ben is an exchange student in the
US with an account at a bank using
the Ripple Network. He is short of
money to pay rent on his flat.
He calls his grandmother Karen to
send him some money.
She wonders what would be the
fastest, most convenient way to help
her grandson?
The answer: ReiseBank‘s cross-
border payment solution!
Sending money is as fast and easy
as sending an email: from
Karen@ReiseBank to
Ben@USBank, 100 US-Dollar. A
quote is securely requested using
Ripple Connect and https
technology. It arrives in
milliseconds. Amount, fees, and fx-
rate add up to the total amount
Karen has to pay.
Karen accepts and the ReiseBank
employee enters her “Know Your
Customer” data. After a compliance
check, the data is sent using https to
the counter-party bank over Ripple
Connect. This locks in the quote. No
personal data ever touches the
Ripple Network.
Karen pays the amount and the
payment is successfully carried out
over the Ripple Network within
seconds.

The moment the transaction is

completed ReiseBank sends out
confirmation emails to both Karen
and Ben. Karen is so excited that
she also tells Ben immediately. He
checks his account and is happy he
can pay his rent on time.

Thanks to ReiseBank‘s cross-border

payment solution, Karen has been
able to help her grandson quickly
and easily.

... and while others are just talking,

ReiseBank is able to do it.
ReiseBank Payments. Instant.
Secure. Delivered. – Together with
Accenture and Ripple.

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are trademarks of Accenture.