Blockchain Technology Transforming the Financial Services Solutions

12 Jul 2017
Blockchain Technology in Financial Services Market

The importance of blockchain technology in this advancing digital world has been recognized by major players in the market and its integration in the financial services system has been initiated. Since the inception of blockchain, its importance in the financial services for trade transaction has been advocated and with the integration of artificial intelligence along with it, the face of financial services is changing rapidly all over the world. For instance, the four largest accounting firms in the world, known as the Big Four, are actively using blockchain technology. KPMG, Ernst & Young, PricewaterhouseCoopers and Deloitte are engaging with Bitcoin and blockchain technology in different and unique ways.

Big banks are now turning towards blockchain for their business transactions and in a recent move, in June 2017, seven European banks- Deutsche Bank, HSBC, Societe Generale, UniCredit, Rabobank, Natixis, and KBC- selected IBM to help them build a new trade finance platform, the Digital Trade Chain (DTC). IBM has been strengthening itself as the best blockchain technology provider of trade finance solutions. The proposed platform will be based on the IBM Blockchain, built on the Hyperledger Fabric, and hosted on the IBM Cloud, to streamline domestic and cross-border trade for European SMBs by providing them with a holistic overview of trade transactions they participate in.1

To further the importance and transformational potential of bockchain technology, two major Australian banks have successfully used blockchain for bank guarantees on commercial property leasing. ANZ and Westpac teamed with IBM and shopping center operator Scentre Group to digitize the guarantee process. The trial used distributed ledger technology to replace paper-based guarantee documents, resulting in a single source of information with reduced potential for fraud and increased efficiency.1

In order to remain competitive in the evolving technological landscape, companies are adopting a bimodal approach wherein they are integrating blockchain functionality along with their current infrastructure and running them in parallel for increasing efficiency and reducing costs. Acknowledging the revolutionizing effect blockchain has, BIS Research has compiled a report titled ‘Blockchain Technology in Financial Services Market - Analysis and Forecast: 2017 to 2026’. According to the analyst at BIS Research, “More than 40 use cases of blockchain in financial services are being explored, including optimizing KYC process, trade finance solutions, asset servicing, claim management in insurance, and post trade solutions in capital markets. Leading financial institutions and banks, including Citibank, J.P. Morgan, Goldman Sachs and Barclays among others, have all the efforts and investments to drive the futuristic technology.”

This report provides a comprehensive market analysis along with the recent trends influencing the markets. The report focuses on the various opportunities and use cases that financial institutions and blockchain technology providers could capitalize on and the cost benefits and value they could derive. The report highlights the key driving and restraining forces for the widespread adoption of the technology, also providing a detailed study of the future trends and developments in the market. It also examines the role of the leading market players involved in the industry.

References:
1 Business Insider

NEWSLETTER SIGNUP

 

Verticals

 

Past Events

IOT India Expo, 2017

http://www.iotindiaexpo.com/#
When: 08 Feb - 10 Feb, 2018
  Where: New Delhi, India
Type of Engagement- Knowledge Partner

Connected Vehicles 2018

http://telematicswire.net/conf/2018/blr/
When: 14 Mar - 15 Mar, 2018
  Where: Bangalore, India
Representative- Faisal Ahmad , CEO & Founder
Type of Engagement- Lead Talk

CVF 2018

http://cvforum.in/
When: 26 Apr - 28 May, 2018
  Where: Pune, India
Representative- Satendra Kumar, Principal Analyst
Type of Engagement- Moderator

IIM Hult prize 2018

http://www.hultprizeat.com/iimlucknow
When: 25 May - 31 May, 2018
  Where: Lucknow, India
Representative- Faisal Ahmad , CEO & Founder
Type of Engagement- Knowledge Partner and Judge for the event

Blockchain in Healthcare Summit

http://tcbi.org/hcblockchainplatform/
When: 11 Jun - 12 Jun, 2018
  Where: Boston
Type of Engagement- Knowledge Partner

Commercial Drones Take Flight: Breaking Barriers and Reaching New Heights

https://register.gotowebinar.com/register/8630250776269240067
When: 28 Jun - 28 Jun, 2018
  Where: GoToWebinar ID: 219-612-347
Representative- BIS Research
Type of Engagement- Webinar

Commercial Drones Take Flight: Breaking Barriers and Reaching New Heights

https://register.gotowebinar.com/register/6634578899309230849
When: 05 Sep - 05 Sep, 2018
  Where: https://register.gotowebinar.com/register/6634578899309230849
Representative- BIS Research
Type of Engagement- Speaker

Strategic Analysis of Precision Medicine, Forecast of Future Trends

https://www.gii.co.jp/seminar/bis-seminar2018/
When: 02 Oct - 02 Oct, 2018
  Where: Otemachi Sankei Plaza, 1-7-2 Otemachi Chiyoda-ku, Tokyo
Representative- Global Information, Inc. (GII)
Type of Engagement- Speaker

10th World Congress on Precision and Personalized Medicine

https://personalized-medicine.conferenceseries.com/registration.php
When: 05 Oct - 06 Oct, 2018
  Where: Osaka, Japan
Type of Engagement- Attendees

Blockchain Technology: Transforming the Agriculture and Food Supply Chain

https://register.gotowebinar.com/register/7355809050283024641
When: 21 Nov - 21 Nov, 2018
  Where: https://register.gotowebinar.com/register/7355809050283024641
Representative- BIS Research
Type of Engagement- Speaker

Precision Medicine World Conference 2019

https://www.pmwcintl.com/bis-research-2019sv/
When: 20 Jan - 23 Jan, 2019
  Where: Santa Clara Convention Center
Representative- Our BIS Healthcare Team
Type of Engagement- Exhibitor. At Booth#324

Connected, Autonomous, Shared, and Electric (CASE) - The Future of Mobility

https://www.gii.co.jp/seminar/bis2019/?c=bnr
When: 06 Mar - 06 Mar, 2019
  Where: Sola City Conference Center, 4-6 Kandasurugadai, Chiyoda-ku, Tokyo Japan 101-0062
Representative- Global Information, Inc. (GII)
Type of Engagement- Speaker

Advancing Precision Medicine through Informatics

https://zoom.us/webinar/register/6115544485265/WN_VJO9WZBCQVGjhoSpKiObQA
When: 30 Apr - 30 Apr, 2019
  Where: https://zoom.us/webinar/register/6115544485265/WN_VJO9WZBCQVGjhoSpKiObQA
Representative- BIS Research
Type of Engagement- Speaker

Big Data in Future of Mobility: Opportunities and Challenges

https://zoom.us/webinar/register/8315553921039/WN_3wVbCVZTQla0g1qBRvrqgg
When: 15 May - 15 May, 2019
  Where: https://zoom.us/webinar/register/8315553921039/WN_3wVbCVZTQla0g1qBRvrqgg
Representative- BIS Research
Type of Engagement- Speaker

NGS Data Management: Turning Data Into Knowledge

https://zoom.us/webinar/register/3415566481137/WN_fH2jbtpYT1qMFvmvqogliw
When: 13 Jun - 13 Jun, 2019
  Where: https://zoom.us/webinar/register/3415566481137/WN_fH2jbtpYT1qMFvmvqogliw
Representative- BIS Research
Type of Engagement- Speaker

Circular Economy- In Pursuit of Fully Recyclable Plastics

https://zoom.us/webinar/register/2715592976380/WN_PryM8ZntR7mFmT0KKd0pqQ
When: 25 Jun - 25 Jun, 2019
  Where: https://zoom.us/webinar/register/2715592976380/WN_PryM8ZntR7mFmT0KKd0pqQ
Representative- BIS Research
Type of Engagement- Speaker

Robotics Simulators: An Emerging Frontier in the Era of Healthcare Robotics

https://zoom.us/webinar/register/7615604362381/WN_jyQlaXB0R-WbKVklyzzQSA
When: 17 Jul - 17 Jul, 2019
  Where: https://zoom.us/webinar/register/7615604362381/WN_jyQlaXB0R-WbKVklyzzQSA
Representative- BIS Research
Type of Engagement- Speaker

Big Data: The Goldmine of Precision Agriculture

https://zoom.us/webinar/register/2015623181415/WN_gibMeiBxTlW-P74d0Ktiyg
When: 08 Aug - 08 Aug, 2019
  Where: https://zoom.us/webinar/register/2015623181415/WN_gibMeiBxTlW-P74d0Ktiyg
Representative- BIS Research
Type of Engagement- Speaker

Microbiome: Changing Contours of Beauty and Personal Care

https://zoom.us/webinar/register/6915633588135/WN_a12GKv__QCm-ZAvsRJ2dAQ
When: 27 Aug - 27 Aug, 2019
  Where: https://zoom.us/webinar/register/6915633588135/WN_a12GKv__QCm-ZAvsRJ2dAQ
Representative- BIS Research Analysts
Type of Engagement- Speaker

5G Vision 2025: Unlocking Strategies for Stakeholders

https://www.eventbrite.com/e/5g-vision-2025-unlocking-strategies-for-stakeholders-tickets-73091569853
When: 16 Oct - 16 Oct, 2019
  Where: https://www.eventbrite.com/e/5g-vision-2025-unlocking-strategies-for-stakeholders-tickets-73091569853
Representative- BIS Research
Type of Engagement- Speaker

Commercial UAV Expo Americas

https://bit.ly/2MrLhzd
When: 28 Oct - 30 Oct, 2019
  Where: The Westgate | Las Vegas
Representative- BIS Research Analysts
Type of Engagement- Supporter

Robotics Technology - Transforming Surgical Practices

https://www.gii.co.jp/seminar/bis201911/
When: 19 Nov - 19 Nov, 2019
  Where: Otemachi First Square Conference, 1-5-1 Otemachi, Chiyoda-ku, Tokyo 100-0004
Representative- Global Information, Inc. (GII)
Type of Engagement- Speaker

India Off-Highway Vehicle Summit

http://www.fiveoit.com/iohv2019/
When: 27 Nov - 28 Nov, 2019
  Where: Prabhag 36, Pune, India
Representative- Mr. Paarijaat Sharma (Principal Analyst, Team Mobility) and Mr. Ravi Kumar Baid (Director, COO)
Type of Engagement- Speaker

Amsterdam Drone Week & UAM Summit 2019

https://www.amsterdamdroneweek.com/
When: 04 Dec - 06 Dec, 2019
  Where: RAI Amsterdam, Europaplein 24, Amsterdam, Netherlands
Representative- BIS Research
Type of Engagement- Knowledge Partner

Counter-UAS Technology: Protecting Critical Assets from Drone Intrusions

https://www.eventbrite.com/e/counter-uas-technology-protecting-critical-assets-from-drone-intrusions-tickets-86782909017?aff=ebdssbonlinesearch
When: 15 Jan - 15 Jan, 2020
  Where: Online
Representative- BIS Research
Type of Engagement- Speaker

Strategize Investments in EV Business: Transform your Risks into Rewards

https://www.eventbrite.com/e/webinar-strategize-investments-in-ev-business-transform-risks-into-rewards-tickets-81267939595
When: 21 Jan - 21 Jan, 2020
  Where: Online
Representative- BIS Research
Type of Engagement- Webcast

CVF Off Highway

https://cvforum.in/offhighway/
When: 23 Jan - 23 Jan, 2020
  Where: The Leela Ambience, Gurugram, India
Representative- Mr. Ravi Kumar Baid (Director, COO)
Type of Engagement- Speaker

28th Convergence India 2020

https://www.convergenceindia.org/
When: 19 Feb - 21 Feb, 2020
  Where: Pragati Maidan, New Delhi, India
Representative- Mr. Paarijaat Sharma (Principal Analyst, Team Mobility)
Type of Engagement- Research Partner

Webinar: Ventilators for COVID-19: How Companies are Breaking the Entry Barriers

https://zoom.us/webinar/register/9715858955222/WN_SlO2umKRQtedpueaLNUriw
When: 09 Apr - 09 Apr, 2020
  Where: Free webinar at https://zoom.us/webinar/register/9715858955222/WN_SlO2umKRQtedpueaLNUriw
Representative- BIS Research Analysts
Type of Engagement- Speaker

3D Printing for COVID-19: Balancing the Supply Crunch in Healthcare Industry

https://zoom.us/webinar/register/7115863519290/WN_QwuemdmURkyYXu2CZywlHA
When: 16 Apr - 16 Apr, 2020
  Where: https://zoom.us/webinar/register/7115863519290/WN_QwuemdmURkyYXu2CZywlHA
Representative- Mr. Kelvin Wee, Mr. Michael Tuckey and Ms. Relansi Gupta
Type of Engagement- Speaker

Ventilator Regulations, Safety Compliance, and Training During COVID-19

https://zoom.us/webinar/register/4315863522108/WN__oJNhdWZRpuOZojhipsUQQ
When: 30 Apr - 30 Apr, 2020
  Where: https://zoom.us/webinar/register/4315863522108/WN__oJNhdWZRpuOZojhipsUQQ
Representative- Mr. Patrick Berges, Mr. Sudhakar Mairpadi, Mr. Vijay Simha, Mr. Milind Nadgouda, and Mr. Abdul Wahid Khan
Type of Engagement- Speaker

Spar 3D Expo and Conference

https://www.spar3d.com/event/
When: 03 Jun - 05 Jun, 2020
  Where: Mccormick Place, Chicago, IL
Representative- Mr. Rahul Papney (Principal Consultant, Team Aerospace & Defence) and Mr. Arpit Benjwal (Principal Analyst, Team Advanced Materials)
Type of Engagement- Research Partner

Impact of COVID-19 on Minimally Invasive Surgical Technology Ecosystem

https://zoom.us/webinar/register/4315863522108/WN_C5KxphQUTPGOHSlNPAdJdQ
When: 16 Jul - 16 Jul, 2020
  Where: https://zoom.us/webinar/register/4315863522108/WN_C5KxphQUTPGOHSlNPAdJdQ
Representative- Mr. Abdul Wahid Khan, Mr. Manukoushik Chanda, Mr. Devon Bream, and Mr. Mohan Nathan
Type of Engagement- Speaker

Commercial UAV Expo Americas

https://www.expouav.com/
When: 15 Sep - 17 Sep, 2020
  Where: Paris Las Vegas, Las Vegas, USA
Representative- Mr. Rahul Papney (Principal Consultant, Team Aerospace & Defence)
Type of Engagement- Research Partner

Commercial UAV Expo Europe

https://www.expouav.com/europe/
When: 01 Dec - 03 Dec, 2020
  Where: RAI Amsterdam, Amsterdam, Netherlands
Representative- Mr. Rahul Papney (Principal Consultant, Team Aerospace & Defence)
Type of Engagement- Research Partner

Amsterdam Drone Week

https://www.amsterdamdroneweek.com/
When: 01 Dec - 03 Dec, 2020
  Where: RAI Amsterdam, Amsterdam, Netherlands
Representative- Mr. Rahul Papney (Principal Consultant, Team Aerospace & Defence)
Type of Engagement- Research Partner

Advances in UAV Communications: Present Challenges and Future Opportunities

https://zoom.us/webinar/register/4516051805050/WN_rKg_-j6pRoaEsdqnXT1Zxw
When: 17 Dec - 17 Dec, 2020
  Where: https://zoom.us/webinar/register/4516051805050/WN_rKg_-j6pRoaEsdqnXT1Zxw
Representative- Guest Speakers: Dr. Thomas Neubauer, VP of Innovations, TEOCO and Dr. Sanjay Gupta Investor, Entrepreneur, Innovator and Strategic Advisor – BIS Research
Type of Engagement- Speaker

Twitter Feeds

 

OUR CLIENTS