Saudi British Bank Launches Ripple-Powered Instant Cross-Border Transfer Service
Saudi British Bank (SABB) has launched an instant cross-border transfer service powered by Ripple.
The bank said the technology, unveiled at the Financial Sector Conference in Riyadh on April 24 and 25, formed part of its “strategic plan towards digital transformation and enriching customer experience.”
According to SABB, it was one of the first banks in Saudi Arabia to join Ripple’s network in January 2018. The technology was then successfully activated through a pilot transaction in December 2018 using Indian rupees.