Digital Finance

Digital Finance

Blockchain will change the financial services industry thereby creating a much more customer satisfaction.

Asset Management

Blockchain technology simplifies the process of traditional trade within asset management. It facilitates an automated trade lifecycle where all parties in the transaction would have access to the exact same data about a trade. This will point out substantial infrastructural cost savings, effective data management and transparency, faster processing cycles, minimal reconciliation and the potential removal of brokers and intermediaries altogether.

 

Insurance

Smart contracts are a perfect usage for insurance on blockchain. It has complete control, transparency and traceability for every claim. It points out automatic pay-outs. Blockchain technology reduces risk modelling for the sector, break down the existing silos and significantly reduces fraudulent claims by capturing the origin and ownership of paintings, homes, diamonds, cars and other assets to be insured.

 

Supply chain

The existent supply chains are complex, distributed, and slow and involve numerous parties across the world. Normally, they do not trust each other, thus the need for trusted third parties like banks and clearing houses to mediate. Smart Contracts are simply executed on the blockchain to transfer titles to goods and money removes the need for banks to provide products such as Letters of Credit. It highly reduces the costs by cutting out the middlemen and their fees. It creates a trusted network of assured authenticity and origin of products being supplied.

 

Payments

Blockchain enables banks to offer real time payments, thereby reducing operational costs, human error and fraudulent activities. Blockchain technology will provide better service to the clients, add value by creating more choices, and convenience.

 

Compliance

Blockchain technology will provide a digital single source of ID information. It will allow the smooth exchange of documents between banks and external agencies. It will result in automated account opening, diminish resource and cost, while still maintaining the privacy of data that is legally required.