This thesis explores how digital transformation is reshaping cross-border payment systems by comparing Ripple’s blockchain-based solution with the legacy Swift system. In the context of growing demand for faster and more cost-efficient transactions, financial institutions are facing pressure to adopt innovative technologies. Through a qualitative thematic analysis based on secondary data, the study examines the cost and speed inefficiencies with the Swift network and evaluates Ripple as a possible alternative. The study also highlights regulatory challenges to widespread blockchain adoption and the lack of digital currency regulation. The findings indicate that Ripple significantly reduces transaction costs and settlement times by eliminating intermediaries. This thesis contributes to the ongoing research on digital transformation in finance and provides insights for more efficient cross-border solutions.