HTF MI added a new research study in its database with title ‘Global Blockchain in Banking and Financial Services Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025’ that includes detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like South America, Asia Pacific, Europe, MEA (Middle East, Africa), North America and important players/vendors such as Microsoft Corporation (United States), Intel Corporation (United States), IBM Corporation (United States) etc. The report will help user gain market insights, future trends and growth prospects for forecast period of 2019-2025.
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Blockchain in Banking and Financial Services Market Scope
Blockchain technology represents a next-generation shift from the present technology and has the potential to transform banking and financial service industry in various ways. It enables banks and corporations to make cross-border money transfers which provide real-time settlement and reduce costs by optimizing liquidity and eliminating reconciliation. Of late, online payments have gained huge tractions and approaches obsolete and opens up a new world of opportunities. Further, this network creates the means for transacting and enables transferring of value and information. Greater levels of security, authentication, ease of transactions and transparency are boosting the growth of the blockchain in banking and financial services market globally.
The market study is being classified by Type (Public Blockchain, Private Blockchain and Others), by Application (Fund Transaction Management, Real-Time Loan Funding, Liquidity Management and Others) and major geographies with country level break-up.
Research Analyst at HTF MI predicts that United States Players will contribute to the maximum growth of Global Blockchain in Banking and Financial Services market throughout the predicted period.
Microsoft Corporation (United States), Intel Corporation (United States), IBM Corporation (United States), R3 (United States), ConsenSys (United States), SAP (Germany), Oracle Corporation (United States), Akamai Technologies, Inc. (United States), Accenture plc (Ireland), Amazon Web Services, Inc. (United States) and JPMorgan Chase & Co. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Cegeka (Netherlands), Huawei (China) and BTL Group (Canada).
HTF MI has segmented the market of Global Blockchain in Banking and Financial Services market by Type, Application and Region.
On the basis of geography, the market of Blockchain in Banking and Financial Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service Provider Type, the sub-segment i.e. Application Providers will boost the Blockchain in Banking and Financial Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. Small & Medium Enterprises will boost the Blockchain in Banking and Financial Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In January 2019, Akamai Technologies, Inc. and Mitsubishi UFJ Financial Group (MUFG) announced an expansion of their relationship through the establishment of a joint venture, the Global Open Network, Inc. (GO-NET) and their plans to offer a new blockchain-based online payment network enabling next-generation transaction security, scale and responsiveness.
“United States Securities Exchange Commission (SEC), who has been actively exploring potential applications of blockchains for financial services transactions in the public securities market, convinced that cryptocurrencies are under their jurisdiction. Moreover, the SEC has embraced the early adoption of blockchains as it relates to securities using its t0.com blockchain platform”
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Have Potential to Save Banks Billions in Cash by Dramatically Reducing Processing Costs
Dealing with the Complexity of Cross-Border Payments through Innovation
Rising Adoption of Blockchain Solutions for Payments and Digital Identities
Increasing Number of Government Initiatives in Developed Countries
Implementation of Blockchain Making Banks More Profitable and Valuable
Several Countries Government Promoting Blockchain Distributed Ledgers
Shifting and Changing Business Models in Banking and Financial Services
Opportunity to Reduce Transaction Costs and the Amount of Paper and Process in Trade Finance
Provides Faster and Cheaper Transnational Payments to Developing Economies
Low Supervisory Control on Transactions and Privacy Issues
The Threat of Internet Security and Price Instability
Uncertain Regulatory and Compliance Environment
Limited Availability of Technical Skillsets for Implementing the Blockchain Technology
According to the World Federation of Exchanges database, the total value of stocks traded globally is around USD 77.5 Trillion, and the market is getting bigger and more complex by the day. With transaction time and operational costs being a top concern, major stock exchanges are exploring blockchain for its potential to allow almost immediate settlements and automate compliance through smart contracts, with greater levels of security and transparency.
Key Target Audience
Blockchain Technology Vendors, Network Solution Providers, Independent Software Vendors, Payment Gateway Providers, Value-Added Resellers, Blockchain Security Providers, Industry Associations, Government and Private Research Organizations, Government Regulatory Bodies and Others
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Strategic Points Covered in Table of Content of Global Blockchain in Banking and Financial Services Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Blockchain in Banking and Financial Services Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025market. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the b
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