- Ripple’s recent Job advert is a telltale sign of their intentions to venture into Working Capital loans sector.
- They are seeking a candidate with vast experience in e-commerce businesses for leadership positions, applicants who could help them successfully launch their new product.
News has emerged that Ripple is looking to onboard a new product director. This was through a job advertisement on their website inviting qualified personnel to apply for the Director of Product Management, Loans post.
Venturing into Working Capital Loans
The enterprise Blockchain remittance platform is now expanding its expertise in the financial realm as they seek to launch a new loan feature. The feature is offering a working capital loan for its customer base. Such loans are customized to cover the company’s day to day operational overheads.
As per their requirements listed, the ideal applicant has to have vast experience with e-commerce or top internet companies at the managerial level. They also need to have the knowledge to gain familiarity with the regulatory framework in credit and loan programs as they are required to work closely with all internal and external legal, tax, and compliance professionals for success in their product launch.
Ripple will shorten the time required by companies to access such loans. Long queues and filling out banking forms all associated with the legacy financial systems will be a thing of the past. This combined with RippleNet’s global reach boasting of more than 300 partners globally will be beneficial to companies that intend to leverage Ripple’s new loan feature.
Ripple has been at the forefront in pushing for the streamlining of the legacy financial systems by offering new innovations to the financial sphere. They have given the banks a run for their money as their remittance system is way faster and cheaper which is appealing to most of the startups and individuals who often need cross border money transfer services.
Looking for a product director to bring in an entirely new RippleNet product offering to market: loans!
See more details below – come join us! https://t.co/Cz91BGcyC3
— Asheesh Birla (@ashgoblue) May 12, 2020
Ripple’s Global Presence.
Notably one of UAE’s oldest banks, RAKBank who onboarded RippleNet in 2017 recently launched a remittance corridor in collaboration with Bangladesh’s Asia Bank. They offer round the clock, real-time remittances with just a 24-hour approval period, and have waived the transactional fees till 30th June.
RippleNet’s competitive transactions have made the XRP popular in turn driving trading volumes on crypto exchanges that have onboarded the asset. Such an example is the BTC market exchange in Australia that has benefited from local businesses adopting Ripple to pay their international suppliers.