Yantra Financial Technologies, a financial technology firm specializing in designing, developing and managing electronic payment systems, and Ripple Labs announced today from Money 20/20 that it will offer bank customers its latest risk management system for risk scoring payments integrated with the Ripple real-time settlement protocol.
“Financial institutions using the Ripple protocol can offer customers a reliable, compliant and secure method for sending and receiving money internationally”
Yantra’s risk management system provides a real time view of all customer transactions. Now, financial institutions using the Ripple protocol can analyze virtually every aspect of a transaction within seconds, including what other payments the customer recently made and potential concerns regarding a specific transaction. Financial institutions can even assign risk levels to certain transactions based on pre-determined criteria.
According to Chris Larsen, co-founder and CEO of Ripple Labs, “With Ripple powering real-time payments and Yantra’s platform providing real-time risk scoring, the combined solution will help banks improve their visibility into transactions and better manage risk.”
“Financial institutions using the Ripple protocol can offer customers a reliable, compliant and secure method for sending and receiving money internationally,” said Suresh Ramamurthi, CEO, and President of Yantra Financial Technologies. “By using our latest risk management system integrated with Ripple, financial institutions can better understand what types of activities its customers are engaged in and with whom they are transacting, as well as the potential implications for the bank using the platform.”
Yantra is available for demonstrations of its risk management system in Las Vegas, November 2-5, 2015 upon request.