PwC Report: Blockchain a 'Once in a Generation' Opportunity for Financial Services
Blockchain marks the next “jump” in business process/optimization technology, according to a newly-released PriceWaterhouseCoopers (PwC) report on fintech. The report, “Blurred lines: How FinTech is shaping Financial Services,” compares blockchain to Enterprise Resource Planning (ERP) software that allowed entities and functions within a business to optimize processes by sharing logic and data within the enterprise. Blockchain, according to the 36-page report, will enable entire industries to optimize business processes by sharing data among organizations that have separate or competing....
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In a new report, Santander InnoVentures, the megabank's venture capital fund, argues that banks and fintech startups need to collaborate in order to "reboot" the global financial services industry and trigger the 'Fintech 2.0' revolution. Unlike the first generation of fintech pioneers that are limited to relatively simple propositions such as digital wallets and peer-to-peer lending, 'Fintech 2.0' will deliver fundamental changes to the infrastructure and processes at the core of the financial services industry, according to a new report from Santander InnoVenture, co-authored with Oliver....
Fintech companies have now been provided with a great opportunity by the growing preference of millennials to accomplish tasks through digital applications. CEO of FIS, Anthony Jabbour, says the digitally native ways of millennials have given more insight into their needs and wants than any previous generation. FIS, the world’s largest global provider, dedicated to banking and payments technologies, conducted a research recently. It showed that millennials already make up a third of banked consumers in America. This highly educated and entrepreneurial generation represents a banked client....
The World Economic Forum (WEF) and Deloitte have concluded that the blockchain is “the future of financial infrastructure” in a new report published today. World Economic Forum Praises So-Called ‘DLT’. Both parties announced the results of a year-long study based on the findings of their 2015 report, “Disruptive Innovation in Financial Services.” The....
The ARK TEC ICO allows investors and cryptocurrency enthusiasts to be part of the ARK Ecosystem for next generation blockchain solutions. ARK, the development team behind new age blockchain products and services has announced the launch of their upcoming ICO. The initial coin offering, better known in ARK’s terms as Token Exchange Campaign or ARK TEC is slated to go live on November 7, 2016. During the 34-day long ICO period, investors can take part in the distribution of the ARK tokens while leveraging upon the bonus offers. ARK is known to create innovative blockchain based solutions by....
Synechron, a consulting services and technology provider specializing in the financial services market, has announced a partnership with Ethereum blockchain developers ConsenSys and BlockApps to develop next-generation blockchain solutions. These solutions will address critical issues, such as data privacy on a private blockchain, scalability for market data applications and critical interoperability across Ethereum and complementary technologies. “While blockchain has the potential to be a transformative technology, financial institutions need highly-customized applications that take into....