- Ripple, a strong reason behind Euro Exim’s win
- The strategic partnership “strengthens” its compliance process and ramps-up speed and efficiency
Euro Exim Bank, a global financial solution that focuses on facilitating international trade has been announced — the second year running — the winner of the Best Global Trade Services Bank award.
“This year the judges praise the bank's bold and savvy partnership move, enabling swift transactions, reduced liquidity and credit risks, and minimized fund transactions,”
wrote Lucy Taylor, Awards Liaison Officer.
Earlier this year, Euro Exim Bank announced that it is using the XRP cryptocurrency for cross-border payments.
The director of the bank, Kaushik Punjani said, at that time, that the customers’ have been traditionally restricted from settling transactions in less time and cost.
The London-based company holds a “Class A” international banking license and has earned an ‘enviable” reputation for its compliance policies, with about 40% of staff specializes in Anti-Money Laundering and Know Your Customer processes.
Its clients include both small and medium enterprises along with larger corporations and private individuals.
The latest addition to the bank’s “financial arsenal,” it says is its strategic partnership with Ripple the XRP cryptocurrency
This has been apparently the first regulated bank to join the Ripple network.
This partnership “strengthens” the bank’s strong compliance process with enhanced authentication capabilities while ramping-up speed and efficiency. A strong reason behind Euro Exim’s win.
While the panel recognized the bank for its trade-tailored solutions and strong due diligence in the past, this partnership move with Ripple that enabled fast transactions got them impressed.