This article was first published on: Insights – Ripple --
Hundreds of international financiers, business leaders and policymakers from around the world gathered in Bahrain to discuss the future of financing at last week’s sixth annual GCC Financial Forum. Marcus Treacher, head of Ripple’s strategic accounts, spoke alongside Chris Skinner, fintech commentator and author, about future trends in the global digital payments industry.
The speakers agreed that global transactional demands have changed. Today’s businesses need a system that can process high volumes of payments immediately. In order to discuss what future trends may emerge in global payments, the industry must first address the pitfalls of the current system and embrace opportunities to reinvent the way cross-border payments are made.
“Global commerce is moving and banks will inevitably need to adopt updated technology to keep up. Ripple is reinventing the plumbing layer of banking, it’s a way of re-intermediating banks services to bring them into the 21st century,” said Treacher.
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