IBS Journal April 2016
with digital companies. That’s a damn- ing indictment of the banking sector. Are there enough forward thinkers out there, willing to make the leap to your platform and generally make digital progress? MW: Absolutely, the demand is very real. The megatrend towards service-integrated finance is well-established and acceler- ating worldwide. Traditional banks are realising that as well, which is why we see the likes of BBVA buying Simple and Holvi. That megatrend works very much in our favour and will be a major enabler of our future success. However, there is massive demand even at status quo level. We can serve any digital business with a financial component including e-commerce, marketplaces and investment platforms. It wasn’t hypothetical thinking which lead us
to build solarisBank; it was clear demand from digital companies. We will announce our first customers very soon.
IBS Journal: Data privacy concerns and
complying with regulations. How do you reassure banks who might be reluctant to sign up, with these issues weighing heavily on their shoulders? MW: We have a German banking license ourselves and are therefore fully committed to data privacy and compliance. Generally, we see regulation as a privilege and have taken measures from day one to assure that we meet all regulatory demands. Regulato- ry compliance is a key strength and value proposition toward our partners and we take that very seriously.
IBS Journal: Is the initial focus solely
on the German market or the wider European market? What will be the key countries outside of Germany? MW: We see opportunities and demand far beyond Germany thanks to strong, developed digital economies throughout Europe. Due to EU passporting directives we can serve any partner in the European Union, and will also do this right from the beginning. We’ve already engaged several multi-national companies who do business across borders and we think that will become a standard part of our business.
IBS Journal: Where would you like the
company to be five years from now? MW: In five years’ time we will be
the ‘go-to banking platform’ for digital companies with an international customer portfolio throughout multiple verticals. Scott Thompson
In brief
US startup Ripple is opening a European HQ to better serve growing bank demand in the region. The San Franciso-based venture’s office will be located in London, and led by newly appointed Managing Director of Europe, Daniel Aranda. Patricia Pittomvils (whose CV includes stints at Clear2Pay, CGI, Fundtech, Tieto and VocaLink) will join him as Sales Director of Europe. “We’re excited to continue growing our global presence
by establishing roots in London, one of the most important fi- nancial centres of the world,” says Ripple CEO and co-founder
Chris Larsen. “After establishing our APAC subsidiary last year, we’ve seen tremendous traction in Asia, leading to the recent creation of SBI Ripple Asia, and we’re looking forward to similarly rapid growth in Europe starting with this new office.” The majority of Ripple’s current partners are based in
Europe, such as Santander and Fidor Bank, and the company says that it is seeing strong customer interest regionally for its cross-currency settlement solutions.
Scott Thompson
26
© IBS Intelligence 2016
www.ibsintelligence.com
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