Ripple released an official statement on July 11, 2018 welcoming Kahina Van Dyke as their new Senior Vice President of Business and Corporate Development. She has more than 20 years of experience in banking and technology, and surely brings a plethora of experience from Facebook as she transitions to this new role in her professional life.
Her role as SVP of Business and Corporate Development includes fulfilling the responsibilities of “driving new, strategic partnerships for Ripple across the global financial services industry.” In its official statement, Ripple acknowledged that Kahina Van Dyke has spent a lot of time in her career creating a symbiotic environment for financial services and technology to coexist which helps in making people life better and provides improved services for customers.
Van Dyk experience leading global teams at Mastercard and Citibank — has offered her great insight into how sophisticated risk mitigation and compliance frameworks enable more reliable and timely services. She has also formerly served as the head of the Global Financial Services team at Facebook. While at Facebook she explored using internet and technology to introduce and connect people to better financial services and opportunities. With such a first hand experience in conjoining monetary matters with technology, no doubt Van Dyke will have a lot to offer to Ripple, its patrons and those skeptical about the use of cryptocurrencies in daily life. Furthermore, the connections she established with leading financial institutions – such as MasterCard, CitiBank, PayPal and others- while working will definitely allow Ripple to come to the forefront of the financial world.
The statementreleased by Ripple also included a short Q&A segment with the newest member of their team – whom they refer to as the “newest Rippler.” Van Dyke addressed issues regarding various challenges in existing payments systems and stated that “cross-border transactions are one of the most complex and multifaceted problem in payments industry.” Along with that, she also provided a solution to eradicate this challenge, stating that “companies and individuals need a system that is more nimble and transparent than one built for the large corporate payouts of past decades.” Ending her statement, she also addressed the role that technology can play in bridging the gap between international payments and existing systems.
When she was asked about her reasons for joining Ripple, ex-Facebook executive replied:
Ripple provides a real solution for eliminating the friction in cross-border payments, and it’s delivering value to real customers right now.
Ripple’s approach is not just disruption for the sake of disruption. Ripple is built around establishing partnerships and applying technology to change an industry. I think that is a really powerful message.
It’s why over 100 financial institutions work with Ripple, and will continue to do so. It’s why Ripple has some of the world’s most notable partners, both traditional banks as well as newer fintech players.
In my career, I have found that the most powerful solutions are often discovered when partners recognize the unique value the other party offers. It is in this intersection — of value and a respect for each other’s unique capabilities — where the best partnerships are born.
Ripple also has an eye toward the future: the potential global impact that a faster, more efficient and cost-effective global payments network can have on people and businesses around the world.
Ripple offers a compelling opportunity to be a transformative force for good in the world of money movement. Together, with our partners, we can reduce friction and deliver better options for individuals, businesses and financial institutions. It’s an exciting time in the industry — and I feel very fortunate to be a part of creating the next generation of global payments.”
She also commended Ripple’s ability to building relationships with financial institutions – traditional banks and financial technology teams – and combining their financial knowledge with technology to create change in this industry. Furthermore, she explained that Ripple could play a massive role in the future in the “cost-effective global payment network” for people and their widespread businesses.
Van Dyke is not the first to acknowledge the changes needed in global payment systems and the concept of money. More and more industry experts are beginning to understand how cryptocurrencies could change the direction of financial institutions and people’s perspective on transactions and money – as noted by the recent study done at the Imperial College London and eToro about how cryptocurrencies will change the face of transactions.
Ripple was released in 2012 and is a decentralized digital currency commonly known as XRP – and is supported by blockchain technology. Ripple has slowly gained momentum with support from traditional banks and payment centers and has become the third largest digital currency by market capitalization.
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