Blockchain has the ability to transform the way banks perform execution as it is an open-source and trusted platform providing data in real-time. It not only help banks in reducing the cost of processing payments but also aids in generating new revenue streams with the ability to transmit data securely. Read the blog to know more - https://modefin.com/blockchain-in-banking-significance-applications/ Modefin is a financial technology solutions company, delivering digital banking propositions to the Banking & Financial Services industry globally. Running successfully for close to a decade, with more than 65 clients globally on its Digital Banking Platform, called “Modefin Omni-presence Ecosystem Banking Platform” (Modefin OEBP), we have been helping Banks & Financial Institutions to connect to their customers at every tough-point in their lives and delivering innovative services relevant to each customer. To know more, click here - https://modefin.com/

1. Copyright Modefin 2022 | Confidential
Blockchain in Banking

2. What is Blockchain
A distributed, decentralized and immutable digital ledger of
information which sits on the Internet.
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3. Copyright Modefin 2022 | Confidential
Decentralized: No central authority that can control or
manipulate the ledger. All participants involved can talk
directly to each other.
Distributed: The digital ledger is spread across a network of
peers where each peer is considered equal and participates by
utilizing & providing a foundation to the network.
Immutable: It is cryptographically secured and no one can
tamper with the data present inside the Blockchain.

4. How finance and banking can benefit from Blockchain
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1 3
2 4
Complying with
Norms
Promotes
Financial
Inclusion
Reduction in
Fraudulent
Activities
Smart
Contracts

5. Some Fascinating Statistics on Blockchain in Banking
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30%
$12B
$552
M
90%
$20B
Blockchain helps to reduce
banks’ infrastructure costs
by 30%.
Adopting Blockchain helps
financial companies to save up to
$12 billion annually.
In 2018, the annual expenditure of
the financial sector was estimated
to be around $552 million.
In the year 2018, about 90% of the
North American & European banks
explored Blockchain technology.
By 2024, the revenue of the global
Blockchain market is estimated to
accumulate around $20 billion.

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