The Difference Between Ripple and SWIFT Cross Border Payments 1

Most commentators are not talking about the difference between Ripple and SWIFT, rather framing it as a battle between the two companies – Ripple versus SWIFT. I’ve been doing quite a bit of reading into the two companies and in this post share with you some of the best resources describing the difference between Ripple and SWIFT. Please keep in mind the comparisons are with reference to the functionality both companies provide for cross border payment processing.

In my opinion, the emergence of new players (such as Ripple) in the cross border payments landscape is healthy. The competition rips up the traditional model and is getting incumbents to react. This is all great for us, the customers!

Take a read of the following and make your own mind up! 😉

Ripple vs SWIFT: Payment (r)evolution

A few years old now, but a great article detailing both companies, Ripple and SWIFT, and outlining the key differences:

Ripple and Swift slug it out over cross-border payments – Financial Times

This article by the FT nicely sets out the Ripple and SWIFT stalls, the Ripple threat and the “SWIFT” response.

Ripple is Aiming to Overtake SWIFT Banking Network, CEO says – Bloomberg

Quite an interesting article by Bloomberg featuring an interview with the Ripple CEO. This was comments upon by Chris Skinner in his blog, worth a read!

The Future of Cross-border Payments: Ripple versus SWIFT – American Express

A short, but to the point, article highlighting the problem with cross border payments and the Ripple and SWIFT solutions

SWIFT GPI vs Ripple Payment – Finextra Blogpost

This Finextra blogpost gets into some of the specific details about SWIFT GPI, the tracker/observer/directory, the UETR and the SWIFT GPI SLA. It goes on to describe the Ripple distributed ledger technology (DLT) standards, the ILP (interLedger Protocol) and the Ripple Product Suite.

Ripple vs SWIFT Infographic – Stedas Crypto

This is a fantastic Ripple versus SWIFT infographic courtesy of Stedas Crypto