- Previously, BofA officials were hesitant to recognize whether or not the bank had an ongoing partnership with Ripple.
- BofA executive Julie Harris said the bank aims to stay up to date with the rapid changes in the fintech world.
In a recent Treasury Insights podcast, Julie Harris – the director of global banking for Bank of America (BofA) – said the bank’s partnership with Ripple, the details of which have been unclear for many years. Speaking of what will happen in the banking world over the next ten years, Harris said that BofA’s primary goal is to make sure its customers can get things done anywhere, anytime. Second, it aims to integrate new solutions and keep pace with rapid changes in the fintech world.
Customer experience, and this combination of high touch and high technology, is really important in a large area of focus for us. So it’s not just the ability, but the actual experience and ability to get things done anytime, anywhere, because we are a 24-hour society.
And the second [goal] is the ability to integrate. And Derrick has talked about it a lot. It is not about our platform and our capabilities. It’s about you as a customer and the infrastructure you have and our ability to integrate with us, whether it’s with the platforms and capabilities we’ve built or the partnerships we have with Ripple or Swift. They are fintechs with whom we work in partnership. They have gone through all of our legal rigor and compliance, and we are able to leverage our banking services as a platform to provide that to you.
Previously, BofA officials were hesitant to recognize whether or not the bank had an ongoing partnership with Ripple.