NEW YORK, Oct. 11, 2015 /PRNewswire/ - DH Corporation ("D+H") (TSX: DH), a leading provider of technology solutions to financial institutions globally, today announced that it has partnered with Ripple to deliver innovative payment capabilities by integrating Global PAYplus, its global payment services hub, with Ripple's distributed ledger technology, creating a foundation for further disruptive payments innovation.
Financial institutions using Global PAYplus will now be able to link to a secure distributed ledger system, accessible only with permission, to connect interbank networks, move money domestically and across borders in real-time, regardless of time zones or time of day, and access cheaper liquidity through a distributed network of market makers.
A demonstration of how the two solutions will work together will be featured at the Sibos conference in Singapore from October 12-15 (stand I40).
"Distributed ledgers have the potential to radically transform the payment process," said Gene Neyer, head of product management, global transaction banking solutions, D+H (formerly Fundtech). "They remove the frictional costs and reduce the complexities of using multiple intermediaries; reduce or eliminate the reconciliation processes; and transform and enrich existing business processes by providing alternative sources of liquidity."
"This investment in distributed financial technology demonstrates D+H's continued commitment to payments innovation," adds Neyer. "The payments landscape is rapidly evolving and D+H's forward-looking solutions enable financial institutions and corporations around the globe to grow and compete."
D+H (TSX: DH) is a leading financial technology provider the world's financial institutions rely on every day to help them grow and succeed. Our lending, payments, enterprise and global transaction banking hubs are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking hubs that fit their needs. With annual revenues of more than $1 billion, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward ranking. For more information, visit dh.com.
SOURCE DH Corporation