Today, a payment might hop through multiple institutions via existing rails. The problem is that each hop adds additional delays, required to eliminate settlement risk. Moreover, the process isn’t fully transparent so it’s unclear exactly how long the payment will take or how much it will cost.

https://ripple.com/blog/for-banks-its-time-to-upgrade-from-the-telegraph/?utm_source=Ripple+News&utm_campaign=985c3f2649-RSS_BLOG_CAMPAIGN&utm_medium=email&utm_term=0_706ebe5aff-985c3f2649-89570133