iCrowdNewswire Nov 26, 2020 1:10 p.m. ET
Updated Research Report on Blockchain in Banking and Financial Services Market 2020-2025:
Wiseguyreports.Com adds “Blockchain in Banking and Financial Services – Market Demand, Growth, Opportunities, Manufacturers and Key Players Analysis to 2025 ”in its research database.
Blockchain technology is currently at an incipient stage in the banking industry. In 2017-18, most banks adopted blockchain technology as part of their strategy, which has also led banks to partner with tech companies and fintech providers to build and test blockchain applications in their stores. operations.
It is said that blockchain is all about improving efficiency and reducing costs, however, banks see it as a strategic measure primarily to overcome their existing challenges related to compliance and regulation, reducing fraud and security, among other things, which in turn offers faster transaction speeds. less than 10 seconds and also helps reduce operational costs.
Blockchain in banking is segmented by blockchain types, applications, sub-verticals, and regions. The types of blockchains including public, private and hybrid blockchains and private blockchain are expected to grow at a higher rate during the forecast period 2018-2024. Currently, more than half of banks are significantly focused on building their own private blockchains by partnering with other banks and blockchain developers.
The partnership also aims to create a few global banking networks to enable transparent payment transactions.
In banking, blockchain applications are currently focused on clearing and settlement systems, trading platforms, fraud detection, e-KYC, smart contracts and regulatory reporting and compliance. ; The clearing and settlement systems segment is the largest adopter of blockchain technology.
Blockchain partnerships aim to build applications around these mentioned use cases and companies such as Microsoft, IBM and JP Morgan are focused on developing applications around fraud detection and compliance management.
The sub-verticals mentioned in the report are interbank transfers, cross-border remittances and transfers, retail and P2P payments, and corporate payments. Among these, banks are deploying blockchain to support their interbank transactions followed by others.
The main players covered by this study
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Market segment by type, the product can be divided into
Market segment by Application, split into
Management of fund transactions
Real-time loan financing
Market segment by regions / countries, this report covers
South East Asia
Central and South America
The objectives of the study of this report are:
To analyze the global blockchain status in banking and financial services, future forecast, growth opportunities, key market and major players.
To present the Blockchain in the development of banking and financial services in North America, Europe, China, Japan, Southeast Asia, India and Central and South America.
To strategically profile the main players and analyze in depth their development plan and strategies.
To define, describe and forecast the market by type, market and key regions.
In this study, the years considered to estimate the market size of Blockchain in Banking and Financial Services are as follows:
Year of history: 2015-2019
Base year: 2019
Estimated year: 2020
Forecast year 2020 to 2026
For information on data by region, company, type and application, 2019 is considered as the base year. Whenever data was not available for the base year, the previous year was taken into account.
Key questions addressed in the report:
What will be the growth rate of the blockchain market in the banking and financial services market in 2025?
What are the key drivers of the global blockchain in banking and financial services market?
What is the sales, revenue, and price analysis of major blockchain manufacturers in the banking and financial services market?
Who are Blockchain Distributors, Traders and Resellers in the Banking and Financial Services Market?
Who Are The Major Blockchain Manufacturers In The Banking And Financial Services Market Space?
What are the opportunities and threats in the blockchain in banking and financial services market faced by the vendors in the global blockchain in banking and financial services market?
What is Sales, Revenue, and Price Analysis by Types and Applications of Blockchain in Banking and Financial Services Market?
What are sales, revenue, and price analysis by regions of Blockchain Market in Banking and Financial Services Market?
What are the market opportunities, market risk, and market overview of the Blockchain in Banking and Financial Services market?
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Main key points from the table of contents
1 Report overview
2 Global growth trends by regions
3 Competition landscape by the main players
4 Breakdown data by type (2015-2026)
5 Blockchain in Banking and Financial Services Breakdown Data by Application (2015-2026)
6 North America
10 South East Asia
12 Central and South America
13 profiles of key players
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