Ripple has come out on top of Britain’s most prestigious awards, as awarded to Ripple in Juniper Research’s 2024 Future Digital Awards for Fintech & Payments, as Platinum Winner for Best Cross-Border Payments Platform. The announcement recognizes Ripple’s groundbreaking innovations in cross-border payments and its contribution to the financial technology industry on Tuesday.
Central Bank Digital Currency (CBDC) is a movement in which Ripple is positioned as a digital payments leader, as noted by the addition of Central Bank Digital Currency (CBDC) Innovation gold awards for Ripple. Increased recognition follows simultaneously across the wider fintech space as several companies shine in separate areas of the industry.
While not the first player in cross-border payments, Ripple has made many strides in employing real-time gross settlement, foreign exchange, and remittance services. Many financial institutions worldwide have adopted Ripple’s blockchain-based technology to process secure and fast international transactions.
Ripple’s Blockchain Solutions Lead in Global Payments
In a statement shared on social media platform X, Ripple expressed its excitement over the award: To add to the list, Ripple has been named a Platinum Winner in the Best Cross-Border Payments Platform category by the Future Digital Awards of Fintech & Payments 2024 by Juniper Research, which underscores its ability to solve multiple long-stalled problems across cross-border payments through a better, more transparent, secure, and ultimately cheaper approach than financial systems characterized by traditional practices.
Juniper Research, which is organizing the 2024 Future Digital Awards, praised a plethora of fintech innovations in all categories. Also among the winners: Huawei, SAP Fioneer, and Paymentology, for their trailblazing contributions to the fintech ecosystem.
Huawei’s team of winners took Platinum in Best Mobile Money Offering and Best Digital Wallet Platform. In developing markets where mobile banking is essential for financial inclusion, Huawei’s mobile money platform has been broadly received.
The Banking as a Service innovation category platinum winner was SAP Fioneer’s Virtual Account Management. The technology allows businesses to manage their finances and transactions with ease. The fintech company Treezor won Gold in this category for its pioneering work in digital payment infrastructure.
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Infosys Finacle received a Gold accolade in the Embedded Finance Innovation category alongside Paymentology, which bagged Platinum in the same category. Over the past year, fintech has increasingly needed embedded finance, the integration of financial services into non-financial business operations.
Signicat Wins Platinum for Digital Identity Innovation
By allowing companies to embed payment solutions into their ecosystems, Paymentology’s platform has helped make it easier for companies to eliminate the pain points associated with payments.
One area really focused on this year was Digital Identity Innovation. In the Platinum category, the winner was Signicat, for its work in building secure digital identity solutions. The company’s technology enables users to safely verify their identities across multiple platforms, eliminating or reducing fraud risk and increasing overall security.
These are Fraud Prevention Platinum to Signifyd (uses artificial intelligence to prevent fraud), or Gold to ACI Worldwide. Signifyd’s AI-powered platform solves one of the key tasks machines are expected to excel at: preventing and detecting fraudulent activities on both business and consumer levels. Also, a Gold winner in Payment Innovation for its Visa Protect solution was Visa, and Airbase took home Platinum in Best B2B Payment Platform.
Safeguarding account-to-account payments is the main focus of Visa’s innovation in the large and fast-growing area of real-time payments. It earned a Platinum award for Banking Innovation of the Year for Trevipay, recognizing its commitment to creating digital solutions to help transform financial services.
Conclusion
Ripple, along with Huawei and Paymentology, are some of the fintech leaders mentioned in the 2024 Future Digital Awards for innovations. The diversity of this industry is on display through these awards, highlighting groundbreaking solutions to important problems. However, future trends and tomorrow’s financial systems will be defined by this year’s winners across the fintech sector.
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