Blockchain in Banking

Blockchain in Banking

Let’s Uplift Your Banking Experience with Osiz’s Blockchain Technology Solutions!

Blockchain Technology for Banking

Blockchain Technology for Banking

The banking industry is well-known for many different economic operations, including lending, trading, transaction settlement, payment processing, etc. The industry has struggled to adjust to the rapidly changing digital landscape of the modern era, despite having a rich history. While the industry is currently growing steadily, it is moving too slowly to keep up with the current pace of advancement. Many procedures in the banking system continue to rely heavily on paperwork even after the induction of sophisticated technology. The inefficiency caused by this is not only a waste of time and resources but risks security as well.

Banks need strong solutions to address these security issues and strengthen their defenses against changing cyber threats. Furthermore, the necessity of monitoring credit history and reducing risks is becoming more and more urgent, calling for creative solutions to handle bad debts and improve regulatory compliance.

Our Blockchain Solutions for the Banking Sector

Efficient Processes

Efficient Processes

Transform your entire world of banking processes with our blockchain services. Through the automation of routine tasks and smoothing out workflows, we help slice down processing times and operational costs, hence delivering quicker and more efficient service delivery.

Customer Identity Management

Customer Identity Management

Bring ease to KYC and AML through blockchain-based identity management. We provide strength to customer verification security and efficiency while ensuring compliance with regulations and rendering a frictionless experience to the customer.

Cross-Border Payments

Cross-Border Payments

This tech makes cross-border transactions fast and inexpensive. Our solutions are designed to assist worldwide banking operations with a better and more efficient way of money sending and receiving globally.

Secure Transactions

Secure Transactions

We help you enhance the safety of your banking operations with our blockchain solutions. We ensure that every transaction will be encrypted and tamperproof, minimizing the risk of fraud and enhancing customer trust.

Regulatory Compliance

Regulatory Compliance

Bring ease to regulatory compliance with the implementation of blockchain solutions. It maintains transparent and clean records of every activity in an irrevocable record that helps a company easily work in adherence to regulations and perform audits.

Smart Contracts

Smart Contracts

Automate and execute, with pinpoint accuracy agreements, using smart contracts. This ensures that all contractual obligations in our blockchain solutions are executed accurately and with efficiency, thereby improving compliance and reducing manual errors.

Benefits Of Our Blockchain Solutions for Banking

Benefits Of Our Blockchain Solutions for Banking
Decentralization

Decentralization

Blockchain uses a decentralized network, which lessens the power of the central authority. This decentralization improves safety and resilience by having no single point of failure.

Auditable Records

Auditable Records

Blockchain technology offers an audit-friendly, transparent record of every transaction. It fosters confidence among stakeholders and guarantees complete compliance with regulatory requirements.

Enhanced Privacy

Enhanced Privacy

Blockchain's use of private keys and encryption makes transactions safe and discreet. It gives users control over their data, letting them only share what is necessary when disclosing such data for a certain transaction.

Greater Traceability

Greater Traceability

Blockchain makes an immutable record of transactions that eases the tracing and verification of data. This may range from supply chain management, all the way to ascertaining the origin and genuineness of products.

Improved Security

Improved Security

Blockchain ensures unparalleled security, making a hacker's job nearly impossible in changing information through the deployment of cryptographic techniques, decentralized data storage, and linking between transactions.

How Does Blockchain Work in the Banking Industry?

Distributed Ledger System
Distributed Ledger System

Distributed ledgers provide transparency and security through recording all transactions on a peer-to-peer, decentralized transaction network.

Transaction Verification
Transaction Verification

This occurs through the mechanisms of consensus, advancing cryptographic security and thereby acting against fraudulent activities and errors.

Smart Contracts
Smart Contracts

This helps to automate the process, avoid most of the intermediaries, and ensure that transactions are executed correctly and effectively.

Cross-Border Payments
Cross-Border Payments

Blockchain provides fast and inexpensive cross-border payments. This is so because it eliminates most intermediaries and significantly reduces transaction times.

Fraud Reduction
Fraud Reduction

No fraudulent transaction can be hidden with immutable records and real-time monitoring, improving security.

Customer Identity Verification
Customer Identity Verification

Blockchain makes the KYC/AML processes easier by storing and sharing the verified identity of customers in a secure manner while enhancing privacy and compliance.

Tech Stack

Blockchain Platforms

EthereumHyperledger FabricCordaQuorumEOS

Development languages

SolidityGoC++JavaPython

Smart contract development tools

TruffleRemixEmbark

Cryptographic tools and libraries

OpenSSLSecp256k1Elliptic Curve Cryptography

Database management systems

MongoDBPostgreSQLBigchainDB

Cloud platforms

Amazon Web Services (AWS)Microsoft AzureGoogle Cloud Platform

Development frameworks

Web3.jsWeb3.pyweb3j\n8

Security tools

OpenZeppelinMythXSecurify

Blockchain explorers

EtherscanBlockchairEthplorer

Why choose us ?

Osiz, an esteemed blockchain development company, has an impressive track record of 15 years in helping businesses around the world with high-end solutions backed by emerging technologies like blockchain. Our company boasts an extensive portfolio of clients who are successfully exploring the world of decentralized applications with the help of 500+ experts. We focus on providing blockchain solutions for a diverse of industries from front-end to back-end with a smart contract creation ensuring an agile methodology. Our blockchain developers dedicate themselves in offering top-notch services with customized solutions for our global clients in the real estate sector. Get a free demo as an added advantage.

Why choose us ?
Whatsapp IconWhatsapp IconTelegram IconSkype Iconmail Icon
Osiz Technologies Software Development Company USA
Osiz Technologies Software Development Company USA