The Experts Viewpoint
Last month, during Sibos, a group of senior managers from large banks and Fintechs came together for a discussion around blockchain.
Chaired by Ben Robinson, Chief Strategy and Marketing Officer at Temenos, the session was led by a panel of eminent industry experts from ABN Amro, Ripple, Deloitte, Inpher and Temenos, who discussed blockchain feasibility, the tangible value it could offer and its possible use cases. This is a summary of the discussion.
Why blockchain, why now?
Financial institutions’ (FIs) profits are under pressure. Interest rates are low and new competitors are squeezing margins. To survive FIs much find more efficient methods to manage and maintain their infrastructure. Blockchain is a major technology for transforming a banks operating model. From a corporate banking perspective, it offers the opportunity for not just survival but, for those that grasp it quickly and effectively, the opportunity for greater success.