Swift and Ripple are on rumours again. A month back when Ripple exhibited on Sibos2018 ended up without any breaking news, the rumours on some agreement between the Ripple and Swift also disappeared.
This time the rumour is not on any partnership but it is Swift API (Application Programming Interface) through which Swift Customers can integrate Ripplenet for instant payment settlement.
The speculation rises with the mandatory of Swift Standards MT Release 2018 (SR 2018) on Nov18, requires users to populate (currently optional) the UETR (Unique End-to-End Transaction Reference). As per a Reddit post API can be used only after the full users upgrade. The API is open and can be used by any bank in Swift network to be recipients of transactions via API and can able to integrate other platforms like Ripplenet in Swift net.
This is not clear how much it is practically possible but it is one of the speculations that 4000 banks under Swift network can immediately access Ripplenet through their bank software which is provided by the company called Temenos.
Temenos, a software company, headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions. Temenos is one of the common bank software providers has integrated Ripple Blockchain Technology in Temenos T24 – by using the Bluzelle Altitude Gateway – a new standard for bank-to-bank settlements, since 2016.
Following are some youtube videos related to the story.