Blockchain is the new kid in the financial services arena. By eliminating the traditional clearinghouse system, financial transactions can complete in minutes, rather than days.
Through reductions in transactional settlement time, players in banking, financial services and insurance can reduce costs, improve efficiency and ultimately reap greater profits.
However, many challenges exist to implementing this new protocol. All blockchain network participants must collaborate on a common set of technology rules. Capitalizing on blockchain’s potential requires the tying together of vastly different networks across different organizations.
While the Financial Services Industry tries to understand how Blockchain and Сryptocurrencies will change the landscape of daily operations, Sri Infotech has taken the lead in analyzing and developing software applications to dramatically reduce friction associated with adoption of this evolving technology.
Sri has extensive Blockchain expertise related to distributed databases, data structure, public ledger and cryptocurrencies (specifically Bitcoin and Ripple).
If you have questions about how this will impact your middle and back office teams, please reach out to us today and learn more about how we have assisted one of the largest Globally Significant Investment Banks (GSIB) with this initiative.
Case Study: Playing With Blockchain