Ripple-powered One Pay FX has won the Financial Innovation Award 2018 for Banco Santander. The bank received Award in “Innovation in product or service design –business and Corporate” section on the 6th December 2018 due to the service rendered by One Pay FX, a platform dependent on Ripple’s xCurrent.
Marcus Treacher, Global Head of Strategic Accounts at Ripple showed delight in the latest honour received by the bank.
“Santander wins Financial Innovation Award 2018 for #onepayfx. Their International payment solution that runs on @Ripple. We’re delighted with this news!”
The news was first announced by Ildefonso Olmedo, Head of Innovation and Santander Blockchain Community Lead at Santander UK Technology.
Ildefonso said: “We are the champiooooons!!! @bancosantander #onepayfx @fiawards #fiawards – at Hilton London Bankside.”
The Financial Innovation Awards recognise leadership, vision and innovation within banking & financial services. The award is presented by the London Institute of Banking and Finance, a renowned financial education institute. The award was held at Hilton London Bankside.
— Ildefonso Olmedo (@Ildefonsolmedo) December 6, 2018
About Santander One Pay FX
Santander One Pay FX is branded as the maiden blockchain-based international money transfer service providing remittance help to four countries.
Most of the time, One Pay FX processes international transfers within a day or the next day in some occasions.
The platform is now used by retail customers across Spain, UK, Brazil and Poland, and more countries are expected to join the remittance service soonest.
One Pay FX survives on Ripple’s xCurrent, a technology dependent on Ripple’s distributed ledger. Note that Santander’s $200 million fintech venture capital fund, invested in Ripple in 2015.