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Research: more than half of world’s banks study blockchain technology

Blockchain is becoming more topical issue for economic institutions

The new study of the Capgamini consultancy firm confirmed that more than half of banks are studying the possibilities of the technology.

As stated in the World FinTech Report 2017, in spite of the low level of confidence in fintech companies, fintech products and services are used by young, tech-savvy and wealthy banks customers.

According to the report, half of banks customers use the products and services of at least one fintech company. The financial technology is growing fast in emerging markets, and this is especially relevant for China and India, where more than 75% of bank customers use the services of the fintech companies.

The Capgemini’s analysts note that the fintech companies have achieved their greatest success in the asset management market. 17.4% of bank customers rely solely on fintech companies. 27.4% use them as an addition to traditional banking services. So long as the fintech companies have a narrow specialization, 46.2% use the services of more than three companies.

Traditional banks are most focused on investing in technologies that contribute to more efficient and effective operations. Thus, almost 90% of bank executives said that they were focused on big data and analytics.

About 56% of them are focused on Internet of things, 54.7% - on the blockchain technology, 52.3% - on the automation of technological processes, 50% - on the open API.

It should be reminded that a recent study of Accenture has showed that 90% of major financial institutions in North America and Europe invest time and money in blockchain projects.

Source: forklog.com

  • November 23, 2016 4:04 PM MSK
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