Ripple protocol integrated into risk management system from Yantra
Larsen: improved visibility into transactions
Yantra Financial Technologies, an electronic payment systems developer, has integrated its latest system for risk scoring of payments with the Ripple real-time settlement protocol.
The integration means that institutions using the Ripple protocol can analyse transactions in seconds, including what other payments the customer recently made and potential concerns regarding a specific transaction. Risk levels can be assigned to certain transactions based on pre-determined criteria.
According to Chris Larsen, co-founder and chief executive of Ripple Labs, “With Ripple powering real-time payments and Yantra’s platform providing real-time risk scoring, the combined solution will help banks improve their visibility into transactions and better manage risk.”
Suresh Ramamurthi, chief executive and president of Yantra Financial Technologies, said: “By using our latest risk management system integrated with Ripple, financial institutions can better understand what types of activities its customers are engaged in and with whom they are transacting, as well as the potential implications for the bank using the platform.”
