Why Blockchain Is Set To Have The Greatest Impact On Banking Over The Next Decade

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.

https://theinnovationenterprise.com/summits/big-data-analytics-for-banking-summit-new-york-2016


Related News

Bank Santander Weighs Up Bitcoin’s Impact On Credit Cards

The legacy banking system is in the process of a technological refresh. This is rather like how cars are updated. A new car is redesigned every five years or so, and three years later they get some navigation system updates, a new grille, and maybe some increased horsepower. The banking industry is certainly not getting redesigned, and the last time they had an engineering overhaul was way back when in the dot-com era, when online banking was added a generation ago. Banks are never at the cutting edge, consistently being five to ten years behind the curve. Now, one international mega-bank,....

Yet Another Bitcoin Impact Assessment Report by Santander

A recent report by Banco Santander discusses the potential impact of Bitcoin adoption on Brazilian banking and financial sector. The number of reports discussing Bitcoin’s impact on mainstream banking and financial sector is overwhelming. Adding to the list is yet another report focused on Brazil, published by Banco Santander. The report titled “Brazil: Banks and Financial Services – To Bitcoin or Not to Bitcoin?” is a result of last month’s meeting with Banco Santander, Mercado Bitcoin — the leading Latin American Bitcoin exchange and local investors. The meeting revolved around the....

China’s Banking Sector Explores Impact Of Government-Issued Digital Currency

As China’s central bank moves forward on a national digital currency, the country’s banking industry is working to get a sense of how digital currency and blockchain technology will impact the country’s banking system and the issues that still need to be addressed, according to Leiphone.com, a platform focusing on mobile phone and smart hardware. At the first “China Financial Technology Innovation Conference” held in Beijing recently, the senior executives of major banks discussed blockchain technology, artificial intelligence and financial issues. The executives are interested better....

The Impact Of Decentralized Sports Betting On The Blockchain

Everyone would agree that cryptocurrencies, blockchain technologies, and the DeFi sector, in general, have exploded in both popularity and usage over the last decade or so. However, one particular industry which is currently looking to utilize the vast potential of this space is sports, specifically when it comes to betting. The relationship between blockchain and […]

German Bank Association: Blockchain Could Revolutionize Securities

The German banking industry association Bankenverband (BdB) recently said that it believes that blockchain technology may have a significant impact on financial markets. In a new document, BdB's Digital Agenda Committee responded to member questions on how it believes developments in the field of financial technology will impact the domestic banking industry, speculating that the blockchain could affect the stock market and payments sectors. The comments come in response to a question that centered on whether large technology groups such as Amazon, Apple, Facebook or Google could leverage....