Since January 2018, Ripple has a new global director of banking services. Marjan Delatinne joined the company in 2017 after spending ten years at SWIFT as a sales manager marketing various banking solutions, including Global Payments Innovation (GPI). Delatinne is part of the Women in Fintech Power 2017 list. She has demonstrated a great ability to develop business strategies for innovative initiatives during her career.
Cointelegraph had the opportunity to meet Delatinne in Frankfurt am Main at the Crypto Assets Conference. about his experience in commercial and banking leadership, RippleNet – global networks of banks and payment providers – and his thoughts on the future of global payment
Cointelegraph: Thanks for your presence. Could you please tell us what excited you in the first place about Ripple when you became his party in 2017?
MD : The Ripple Vision. I’ve been very impressed by the Internet of Value, which makes money move instantly by analogy with data exchanged over the Internet. I have worked for SWIFT in the past, and the correspondent bank is a core business of SWIFT. There are many points and problems of pain – and I want to change it. It sounds childish, but I want to make our world a better place. 19459004 19459005 CT: You studied psychology. How do you apply it to your work?
MD : I studied psychology, but also business. I think psychology is everywhere. What I learned in my study of psychology is how you get closer to your clients. It is not necessary to manipulate your customers but it is important to better understand their needs. You move about your business and the psychological background helps you build relationships and interact effectively with your customers and gain their trust.
RippleNet and Communications
CT: Can you tell us about RippleNet? ? How could Ripple solve payment problems by using it?
MD : I think it’s a very good question. RippleNet allows banks to instantly adjust cross-border payments with end-to-end tracking and to send real-time messages to confirm payment details before initiating the transaction and confirming delivery once it has been completed. adjusted. If you’re part of RippleNet, you can send details and complete transactions in seconds, minimize liquidity costs and improve your customers’ experience.
CT: Many banks have already joined RippleNet. How does it work – the adoption of RippleNet by global financial institutions?
MD : We have more than a hundred banks and payment service providers. They are not all on the same level of maturity in terms of adoption. Some institutions are much more advanced because they have joined us before others. When you join Ripple, you follow our company policy or network agreement, which ensures consistent use of the network for all participants. This is very important for banks because they use this kind of rules as a first step. We have very interesting payment transactions exchanged on our network and this reassures and gives confidence to the banks with which we cooperate.
CT: How to attract new partners? What are the main challenges of communicating with traditional banking institutions?
MD : It takes time to attract new partners, especially large organizations. They have more complex legacy systems and if they invest, they have to make sure that their investment pays off. But we see a significant change in terms of how banks talk to Ripple. The confidence that is now built around Ripple and the fact that many great players are already in our network – for example, Bank of America – make our new partners more confident that Ripple is working.
XRP and Ripples Are Not the Same
CT: How do you handle false news and misinformation about Ripple?
MD : There is some confusion. around what Ripple is and what are the XRP digital assets that were donated to our Ripple company. The XRP currency has been designed for the transfer of cross-border payments, and if you’re talking about rumors, you should have separate entities. The best thing we do, I must say, is that we work closely with the regulators and we have very strict compliance and regulatory rules at Ripple. We work with regulators, but do not avoid them. We educate our partners and work with them even closer to their projects. We are cooperating with the Bank of England and we have launched a new project with the Saudi Monetary Authority. So our approach is to continue this dialogue with regulators and make sure they understand what we are doing with XRP cryptocurrency
CT: What are the challenges what you see for Ripple, and how do you propose to resolve
MD : For us, any challenge is an opportunity to become better, because we are a new project. Creating a global network is not easy, it takes time. So you have to be very agile in terms of the main banks and the ecosystem that we create – it’s not just the banks. At the same time, we are working with payment service providers to connect them to banks. We talk to companies to see how they can better communicate with their banks or payment service providers. This, of course, requires a lot of effort and agility in terms of approach. I think it is our priority in the coming weeks and I hope the years to come.
Internet of Value becomes a reality
CT: What do you think of the future of payments and fintech? How will it develop?
MD : I think that the future of payment, especially in the context of Europe, will be PSD2 (). PSD2), which entered into force on 13 January 2018, aims to improve the protection of online payments, to encourage innovation in payment services and to secure cross-border payments – Cointelegraph ) and Open Banking allowing sharing of personal information between organizations, increase competition and create a better consumer experience.
I think we will see a dramatic increase in the volume of payment and the innovation of payments. Now, the Internet of value is becoming a reality – thanks to Blockchain technology. Traditional banking institutions should try to join or adapt to them, otherwise they may lose the game. I do not mean that the money will disappear – we will have money and use it in the future. However, I think the nature of the services banks will provide to consumers will be completely different.