Why Blockchain Is Set To Have The Greatest Impact On Banking Over The Next Decade
Innovation Enterprise hosts the Big Data & Analytics for Banking Summit at the Crowne Plaza Times Square on December 7 & 8. Unite with over 150 data professionals to explore key areas including Cryptocurrencies, Machine Learning and Credit Risk Modelling.
The banking industry is in the midst of a period of dramatic upheaval, driven by technological advances and disruptive innovation, presenting the traditional banking model with fresh challenges on all sides.
Blockchain, the technology behind Bitcoin, is, arguably, set to have the greatest impact on banking over the course of the next decade. In a recent Accenture survey titled ‘Blockchain Technology: How banks are building a real-time global payment network,’ 90% of major US, Canadian, and European banks said that they are currently exploring blockchain technology in the field of payments. And the benefits of Blockchain do not end with payments - asset management, insurance, and compliance are just three other areas where blockchain could have a real impact.
However, many in banking are still at a loss to understand the technology and how they can apply it in their operations, with just 17% of the banks noted in the Accenture report to be at “the forefront of revolution” with solutions that are already in use.
The Big Data & Analytics for Banking Summit will take place at the Crowne Plaza on Times Square in New York this December 7-8, with industry leaders such as Liana Guzman, VP of Marketing & Communications at Blockchain, among the 20+ speakers leading discussion around the latest developments in cryptocurrency, data analytics, and FinTech.
Presenting to more than 150 industry professionals, Liana will look to advance understanding around how banks can adopt Blockchain and other disruptive technologies to gain a competitive edge. She will be joined by decision makers from the likes of Citi, PNC Bank, and AIG, among others.
Anand Balasubramanian, VP of Data Management & Visualization at Goldman Sachs, will also present. Goldman Sachs is another bank that is focusing on Blockchain, having recently filed a patent titled ‘Systems and Methods for Updating a Distributed Ledger Based on Partial Validations of Transactions’, which it is hoped will increase the level of privacy between parties involved in foreign exchange transactions. Balasubramanian will provide a framework that combines design thinking and data visualization to quickly conduct exploratory analysis, gather insights from the data, and build products that reduce time to market and add business value.
Event curator, Meg Rimmer, noted that: “With a nascent technology like Blockchain, early adopters have a massive advantage. We created this summit in order to help attendees understand how new technologies like blockchain and data analytics will change the industry, to help them maintain their positions as market leaders.”
Limited passes are available. For further information about speakers, the agenda and registration, check out the website.
About Innovation Enterprise
Innovation Enterprise Ltd, a division of Argyle Executive Forum, is a business-to-business media brand specializing in delivering the most innovative business solutions to executive-level decision makers. Innovation Enterprise produces a range on online and offline content, including, but not limited to, summits, online learning, webinars, and white papers, as well as offering other additional services such as lead generation and bespoke research.
Innovation Enterprise focuses on seven key channels - Finance, Supply Chain, Analytics, Big Data, Strategy, Digital, Innovation & Sports - to ensure that organizations are furnished with all the cutting-edge insights necessary to driving growth in the evolving business environment.
The potential is great for people in the informal economy to exploit the blockchain’s middleman-free way to exchange assets and information and its irrefutable public record that’s free from the control of any one central institution.