The interbank cooperative will offer member banks a set of common API-based processing services, such as pre-validation of essential data, fraud detection, data analytics, transaction tracking, and exception case management.
March 6, 2017
Despite the outlook on blockchain adoption for financial services starting to move from excitement to criticism, trade facilitation business processes represent a stronghold for blockchain-based programs, as long as basic change management principles hold true.
There is a mounting debate about the limits of blockchain in the world of financial services. Financial consortia R3 and Swift declare banks can do without blockchain because of its immaturity, while a survey across delegates at the DTCC Fintech event also shows that blockchain adoption optimism suffers setback.
March 6, 2017
R3’s recent announcements warn banks to carefully watch blockchain as long as the technology remains immature. This comes at a time when blockchain-based initiatives see financial institutions taking the driver’s seat. The path to blockchain maturity demands the guiding role of bank industry independent associations, exactly what R3 is. This article takes the perspective of corporate banks.
February 21, 2017
Although banks may appear slow to react and less agile than emerging fintech companies, banks remain their corporate clients’ main point of reference for technology innovation and inclusion. Even many leading corporations don’t want to be the pioneers in something that is not part of their core business and keep a wait-and-see attitude toward fintech innovation, expecting advice from their banks, which are perceived to be more reliable and knowledgeable in assimilating technology innovation into tangible business benefits.