Retail banks have made great strides in developing digital business models, introducing millions of people to mobile banking, and becoming expert providers of data-based services. Increasing adoption of blockchain technology to facilitate faster, real-time cross-border payments from the bank sector can drive the market. Blockchain increases trust, security, transparency, and the traceability of data shared across a business network.This growth is primarily driven by Development of Banks and FinTech Start-Ups and Increasing Internet Penetration Rate and Growing Adoption of Blockchain Technology.
|Unit||Value (USD Million)|
|Key Companies in Study||McKinsey (United States), CFTE (United Kingdom), IBM (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Amazon Web Services, Inc. (United States), Bitfury (Netherlands), Auxesis Group (India) and Cegeka (Netherlands)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
Globally, a noticeable market trend is evident The Demand for Enhanced Banking Platforms Coupled with Rising Customer Demand for Seamless Access to loan Services and Products. Major Players, such as McKinsey (United States), CFTE (United Kingdom), IBM (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Amazon Web Services, Inc. (United States), Bitfury (Netherlands), Auxesis Group (India) and Cegeka (Netherlands) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In 2019, IBM has launched a global blockchain network, Blockchain World Wire. It offers a new way for cross-border payment exchange and international settlement. The network will use both stable coins backed by U.S. dollars and cryptocurrency to make near real-time cross-border financial transactions.
"United States Securities Exchange Commission (SEC), which has been actively exploring potential applications of blockchains for financial services transactions in the public securities market, is convinced that cryptocurrencies are under their jurisdiction. Moreover, the SEC has embraced the early adoption of blockchains as it relates to securities using its t0.com blockchain platform"
- Development of Banks and FinTech Start-Ups
- Increasing Internet Penetration Rate and Growing Adoption of Blockchain Technology
- The Demand for Enhanced Banking Platforms Coupled with Rising Customer Demand for Seamless Access to loan Services and Products
- Privacy Concerns Related to the Blockchain
Adoption of Blockchain in Retail Banking help Banks in Expediting the Lending Process and Disbursing Personal Loans
Lack of Awareness Blockchain in Retail Banking
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Blockchain in Retail Banking Study Sheds Light on
The Blockchain in Retail Banking Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Blockchain in Retail Banking industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Blockchain in Retail Banking industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What are the years considered in the Blockchain in Retail Banking Market?
Historical year: 2017-2021; Base year: 2021; Forecast period: 2022 to 2027 2. Who are the key players profiled in the Blockchain in Retail Banking Market?
Companies that are profiled in Global Blockchain in Retail Banking Market are McKinsey (United States), CFTE (United Kingdom), IBM (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Amazon Web Services, Inc. (United States), Bitfury (Netherlands), Auxesis Group (India) and Cegeka (Netherlands) etc.