PNC Bank, a top ten bank in the United States, has joined RippleNet. PNC customers will be able to receive real-time cross-border payments.
With more than 8 million customers and retail branches in 19 states, PNC has a diverse set of customers, including consumers, small businesses and large corporates. Ripple’s technology will have an immediate impact on each of those groups, enabling PNC’s commercial clients to receive payments from overseas banks in real time.
Now, a commercial client in Pennsylvania receiving a payment from a UK buyer will be able to receive payments against their invoices instantly, transforming the way they manage their accounts receivable and allowing them to better manage their working capital.
The bank joins some of the world’s leading financial institutions on the network, including Banco Santander, American Express and the SBI led, japan bank consortium to name a few.
The addition of a top U.S. bank like PNC on RippleNet fuels the network’s positive momentum. RippleNet has grown to more than 100 financial institutions and continues to expand steadily each month. RippleNet has also recently expanded its reach to over 40 countries and six continents.