Blockchain & NFT in Finance and Banking

Blockchain and Finance

The financial sector today lags behind the rapidly changing realities of the digital world. For instance, banking operations today are mostly based on paperwork creating security vulnerabilities and complex information retrieval, middlemen are required to handle transactions entailing additional expenditures, transactions are processed for about a week,and etc. Apparently, the traditional financial industry needs to be overhauled.

So, how can Blockchain solve these issues? With Blockchain we can digitize paper documents enhancing transparency, implement smart contracts to handle peer-to-peer transactions eliminating banking fees, speed up the transaction processing time as it doesn’t need to go through multiple mediators, refine the process of making deals thanks to smart contracts that are automatically fulfilled as soon as the conditions set in advance are met, and many more things that will enhance the efficiency of financial services.

Why develop custom blockchain solutions for banking?

There are a great number of solutions based on blockchain and related technologies, but none of them is geared towards your specific needs. It could be filled with unnecessary features you have to pay for or be deprived of life-critical ones your business cannot operate without. Available solutions might serve small banks with the limited budget, or vice versa.

Therefore, to get the most of the software, it’s recommended to hire a dedicated team that will develop the solution from scratch for you. Reach out to our team of professionals who will develop a uniquely customized blockchain solution that will align with your requirements and budget bringing a technology shift to your financial services.

Top Blockchain Fintech Services

Blockchain development

We develop robust and secure decentralized software to execute safe transactions. With blockchain you will achieve full transparency and automation of the workflow thus improving efficiency of business.

Blockchain consulting

Utilize advice from our well-versed consulting team who will conduct in-depth scrutiny of your working processes and offer the best ways on how to elevate the prowess of your business.

Blockchain document management

We offer a digitization of paperwork cycles that provides document security, fast data retrieval, audit trails and increased transparency across the enterprise.

Smart Contract Integration

With the smart contracts all the financial agreements are executed automatically when the predefined conditions are fulfilled and the outcome is validated by the parties instantaneously without any intermediaries.

Defi

Avail yourself of secure and cost-effective transactions without the intervention of third parties enabling businesses to get rid of the fees that banks charge for their services, transfer funds within minutes and have more control over money.

DApps

When it comes to Dapp development we do our best to roll out the best solution suiting your needs. We deliver a user-friendly interface with industry grade encryption and enhanced security level that will bring success.

Crypto Payment Gateway

Being able to make private and secure online transactions it’s essential to integrate crypto payment gateway. We are skilled at integrating any type of crypto payment gateway as per client’s needs.

Support & Maintenance

We provide you round-the-clock maintenance and support post-launch to keep the fintech application running in a hassle-free manner and generating revenue for you.

Crypto Exchange

Our team of experienced blockchain developers deliver highly-customizable crypto exchange focusing on security and scalability. We understand you project specific needs and hand pick the necessary functionality.

Central bank digital currency (CBDC)

Explore the possibility to make use of government-backed digital currencies that are pegged to the country’s fiat money enabling direct payments and fostering financial inclusion.

Blockchain Use Cases In Finance and Banking

Real-time Payment Solutions

Blockchain technology facilitates the speeding up of transaction processing. As a rule, it takes several days to process payments in a traditional fintech system while blockchain-based solutions enable banks to handle transactions in an almost immediate manner.

Trade Finance

Blockchain takes away the need for intermediaries since the permissioned parties have access to the updated information in real time and also the technology enables paperwork digitization.

Cross-border Transactions

All the limitations related to overseas money transfers are melted with blockchain as it’s completely internet-based, middleman-free and lowers the transaction fees. These transactions are unlimited and secure.

Crypto Adoption

As crypto is growing in popularity, blockchain creates the conditions for building new innovative products and services in the financial sector that will have significant growth potential.

Digital Identity

With blockchain there’s no need to go through the verification process each time you log in. Businesses can create a personal digital identity system where users undergo validation once and make cross-border transactions further with this verified identity.

Securities Management

Blockchain can help financial institutions to adopt more dynamic solutions in order to improve liability risk management. On top of that it creates transparency for investors and stakeholders.

NFT Investments

Blockchain technology offers to investors an innovative online method of generating revenue by trading NFTs (non-fungible tokens) that is quite appealing and secure due to protected ownership rights each NFT has.

KYC & Money Laundering

KYC and AML regulations are among the most expensive activities for banks, and KYC causes delay in financial operations. The way out is to create private or permissioned networks to validate participants’ identity.

Peer-to-peer (P2P) transfers

Peer-to-peer transfers have a number of drawbacks that blockchain is destined to eliminate by removing any geographical limitations, pricey commissions and high fraud risks.

Fundraising

Blockchain paves the way for a new form of fundraising that is Initial Coin Offering (ICO) providing innovative ways to raise capital, for instance by issuing and selling crypto tokens to investors.

Benefits of blockchain in finance and banking

Instant Transactions

Transactions on blockchain networks are user-oriented and almost instantaneous, saving a tremendous amount of time and money.

Transparent Process

The immutable nature of blockchain leaves no chances to tamper with the transactions thus solving the problem of trust.

Enhanced Security

Since the data is decentralized and shared among a large number of people, it’s extremely difficult for hackers to infiltrate and pose a menace.

Dispute Free

Banking system operating on blockchain validates each transaction request eliminating the risk of financial fraud.

Improve Performance

The implementation of smart contracts replaces time-consuming manual exchange of data with automated solutions.

Wide opportunities

Blockchian-based solutions enable financial institutions to avail themselves of neo banks and digital banks complying with the regulations.

Crypto transactions

Blockchain technology sets the stage for banks to become early adopters of cryptocurrency and tokens driving new revenue streams.

Peer-to-peer transaction

With the smart contracts being employed peer-to-peer transactions are performed automatically in an instant manner.

Automated process

Blockchain eradicates the need for middlemen to handle and verify transactions which makes business processes automated.

Privacy

Cryptographic algorithms enable hidden participants’ identities, preventing the direct link between customers and their transactions.

Our Blockchain Fintech Development Process

We get the Request

First we gather requirements, understand your pain point, priorities and goals of the project.

Requirement Analysis

We take a deep dive into your entire project, analyze its feasibility to come up with the right solutions.

BA

Our BA team comprehends your business needs and creates an effective strategy that works well with your plans.

Design

We build unique and user-friendly designs that make your product look appealing, and the simplicity and usability of UI/UX we create enhance user retention.

Development

We start shaping your idea into a reality by programming and coding as per the approved design.

Compliance and Integration

We make sure the solution complies with all the requirements of the system where it operates and adapt it to your current ecosystem.

Testing

Your solution undergoes a stringent test procedure during which appearance and performance are tested.

Support and Improvement

To ensure continuous improvement, we provide on-demand support and add new features if needed.

Why Choose Our Fintech Blockchain Company

Blockchain Expertise

We handpicked top-notch experts who exclusively work with Blockchain technologies and stay updated with the latest trends of the industry.

Custom Solutions

We don’t employ a one-size-fits-all approach instead we develop solutions that are utterly customized for every individual company based on its needs and preferences to make the product perfect fit.

End To End Services

Thanks to our comprehensive set of tools we take on the creation of your product from the beginning till the end, from defining the strategy till the actual product.

Recognized Worldwide

We work with clients around the globe developing solutions that are not linked to one particular region, but tailoring each of them according to specific needs and country regulations.

Round the Clock Support

We do not end our cooperation once the product is launched, we offer support and maintenance after the deployment for you to concentrate on your main activity.

Worldwide Network

Our team members are scattered around the world, our diversity and local expertise enable us to deliver international IT solutions and provide seamless communication.

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