RippleNet Cloud Expands With New Partnership

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#RippleNet helps financial institutions run a high-performance global #payments …

March 4th 2021

Recognizing a need to enhance the cross-border payments experience in one of the biggest remittance corridors in the world, LuLu Exchange, a leading Abu Dhabi-based financial services provider partnered with leading Indian private sector financial institution Federal Bank.

Through RippleNet Cloud, cross-border transactions into India made through LuLu Exchange’s 76 branches in the UAE and the LuLu Money mobile payments app are faster and more reliable.

“Our long-standing association with Ripple has opened up plenty of avenues for us to solidify our presence in existing and new corridors, and the latest partnership is a step forward in providing our customers the best possible experience for their payment needs to India,” said Adeeb Ahamed, LuLu Financial Group Managing Director.

Taeknizon, a private cloud service provider in the Middle East and Asia, was selected by LuLu International Exchange, a top three financial services provider in the UAE, to transform its operations and migrate critical IT infrastructure and applications to the cloud.

LuLu International Exchange is using Taeknizon’s Taekni Cloud services to accelerate infrastructure consolidation and cost optimization in a multi-cloud environment.

Using RippleNet Cloud, LuLu Exchange can send and receive payments between financial institutions on RippleNet with one easy integration to process cross-border payments instantly, reliably and cost effectively—entirely in the cloud.

 

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