iCrowdNewswire Nov 26, 2020 1:10 PM ET
Updated Research Report of Blockchain in Banking and Financial Services Market 2020-2025:
Wiseguyreports.Com Adds “Blockchain in Banking and Financial Services – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2025” To Its Research Database.
Blockchain technology is currently at nascent stage in the banking industry. During 2017–2018, most banks have adopted blockchain technology as part of their strategy, which has also resulted in banks entering in partnerships with technology companies and fintech vendors to build and test blockchain applications in their operations.
Blockchain is said to be all about improving efficiency and cost reduction, however, banks are taking it as a strategic move mainly to overcome their existing challenges related to compliance and regulatory, fraud reduction, and security among others, which in return offers higher transaction speeds of below 10 seconds and also helps in reducing operational costs.
Blockchain in banking industry is segmented by blockchain types, applications, sub-verticals, and regions. Blockchain types including public, private, and hybrid blockchains and the private blockchain is poised to grow at a higher rate during the forecast period 2018–2024. Currently, more than half of the banks are significantly focusing on building their own private blockchains by partnering with other banks and blockchain developers.
The partnership is also aiming in creating a few numbers of global bank networks to enable seamless payment transactions.
In the banking industry, blockchain applications are currently focused on clearance and settlement systems, trading platforms, fraud detection, e-KYC, smart contracts, and regulatory reporting & compliance; the clearance and settlement systems segment is the largest adopter of blockchain technology.
Blockchain partnerships are aiming at building applications around these mentioned use cases and companies including Microsoft, IBM, and JP Morgan are focusing on developing applications around fraud detection and compliance management.
The sub-verticals mentioned in the report are Inter-bank transfers, Cross-border transfers & remittances, Retail and P2P payments and Corporate payments. Among these, banks are deploying blockchain to support their inter-bank transactions followed by others.
The key players covered in this study
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Market segment by Type, the product can be split into
Market segment by Application, split into
Fund Transaction Management
Real Time Loan Funding
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Blockchain in Banking and Financial Services status, future forecast, growth opportunity, key market and key players.
To present the Blockchain in Banking and Financial Services development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.
To strategically profile the key players and comprehensively analyze 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:
History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2020 to 2026
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key questions answered in the report:
What will the market growth rate of Blockchain in Banking and Financial Services market in 2025?
What are the key factors driving the global Blockchain in Banking and Financial Services market?
What are sales, revenue, and price analysis of top manufacturers of Blockchain in Banking and Financial Services market?
Who are the distributors, traders and dealers of Blockchain in Banking and Financial Services market?
Who are the key manufacturers in Blockchain in Banking and Financial Services market space?
What are the Blockchain in Banking and Financial Services market opportunities and threats faced by the vendors in the global Blockchain in Banking and Financial Services market?
What are 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 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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Major Key Points in Table of Content
1 Report Overview
2 Global Growth Trends by Regions
3 Competition Landscape by Key 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 Southeast Asia
12 Central & South America
13 Key Players Profiles
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