Banks To Increase Expenses On Financial Technology And Payment Solutions
It is no secret that established financial institution will have to come up with new and innovative forms of payment over the next few years. Even though many institutions have tried to delay this change for as long as possible, banks around the world are looking to increase the amount of funds being spent on the development of new payment technology. Blockchain technology will – most likely – play a big role in the process. According to a recent Finextra article, traditional financial institutions have finally seen the light as they will increase spending on new financial technologies....
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The other side of the medallion is how this approach by banks makes it difficult to see a clear path forward. Since the blockchain will make its biggest impact in the international payment and trade finance sectors, a clear course of action is direly needed. There has been a lot of focus on blockchain technology in the financial sector as of late. Despite the growing number of banks showing an interest in distributed ledgers, the overall attitude is still “wait-and-see”. Some experts feel that not getting on the blockchain train will cost banks dearly in the long run. It has to be said;....
A survey conducted by professional services firm Accenture has revealed that nine out of 10 major U.S., Canadian and European banks are currently exploring blockchain technology in the field of payments. The survey, titled ‘Blockchain Technology: How banks are building a real-time global payment network’ [PDF] canvassed the opinions of 32 of the top commercial banking professionals in the banking industry. Notably, the transformational potential of blockchain technology in the payments space was under the spotlight. Executives participating in the survey included those from 11 of the top....
Moreover, it is evident these Australian banks have no intention of supporting Apple Pay whatsoever, and collaborating in this regard seems the best possible outcome for all parties involved. Many people think the bigger banks are only opposing Bitcoin and cryptocurrency, but that is not entirely correct. Over in Australia, the banks are opposing Apple Pay as well. A new collaboration between the country’s three biggest banks will shake up things by quite a margin. If their approval is granted, the institutions will negotiate with Apple to install their own mobile payment solutions on....
PRESS RELEASE. Antier Solutions, a blockchain development company headquartered in Mohali, India – with two global units in North America and the UK – has expanded its services to offer crypto-friendly bank development solutions targeting start-ups, banks, and financial institutions seeking opportunities to launch their crypto-friendly banks. “The finance industry is evolving; financial institutions and customers are realizing the transformative power of blockchain and cryptocurrency in making financial services more transparent, secure, cost-efficient, and accessible to....
Toyota Financial Services and R3 Consortium have announced the start of their collaboration on research and development of Blockchain applications. Uniting over fifty of the biggest banks and corporations in the world the R3 Consortium seeks how to incorporate Blockchain solutions in the financial and nonfinancial sectors. Applying the Blockchain. When the consortium was first created, it appeared that the world’s banks and financial institutions were the earliest to become fascinated by the technology. No wonder, as the world got to know about the Blockchain primarily because of the....