Benefits of blockchain in financial services
With blockchain applied in financial services, transactions can be settled and optimized in a time- and cost-efficient way.
The blockchain technology allows for reducing operational costs while eliminating intermediaries.
On a blockchain, stakeholders can easily track and regulate monetary flows and transaction operations.
The data on a blockchain is immutable and can be monitored in real time without the need for further error processing.
The blockchain technology fosters improved business operations, enabling users to have total control over private data.
Blockchain mitigates the risk of contractual obligation default, helping a counterparty to avoid overhead costs.
Enhance transparency, simplicity, and efficiency
of your financial transactions.
Blockchain use cases in finance and banking
Explore real use cases of implementing blockchain for financial services. Based on Hyperledger Fabric, the delivered solutions address the pain points found in the bond and OTC market.
Securities transfer: implementation of the functionality of the depository institution
- The securities list available
- Conformity between the securities transfer instructions created by an issuer and an investor
- Delivery vs. payment audit
- Up-to-date portfolio of security holders
Over-the-counter (OTC) market: inter-bank P2P trading platform
- The dashboard displaying bids and offers signed by market players
- Access to the ledger of P2P deals, which is immutable and transparent
- The function introduced in Hyperledger Fabric allows for keeping sensitive information private
- Graphic reports indicating price and volume trends, as well as aftermarket cash flows
A goods track-and-trace system to prove VAT deductions
- Defining the product’s country of origin
- All the documents to prove VAT deductions available
- Secure transactions management and documents storage
- Specified timelines and established transparency across goods delivery and financial operations
- Notifications to enable clear monitoring of changes applied to ledger records
- Controlled disclosure of information required according to legislation
Implementing blockchain for finance
Blockchain development stages
Why choose Altoros as a blockchain services provider
Let’s consider how to drive your desired business outcomes and transform financial services with blockchain technology delivered by Altoros.
Blockchain Solutions Architect