Blockchain in financial services

Digital process automation and blockchain in financial services

Share this post:

Blockchain is more than a buzzword — it is a game-changer with the potential to revolutionize business operations across industries and the replay of a blockchain webinar will expand this discussion into the ongoing impact of blockchain in the financial services sector.

Financial institutions handle multi-party business transactions daily, and many are investing heavily in blockchain. According to a World Economic Forum study, by the end of the year 80 percent of banks plan to initiate blockchain projects. And there is certainly global interest, with companies in over 24 countries currently investing in blockchain projects.

Blockchain technology significantly affects a company’s business processes, becoming part of a multi-party automated process sharing a distributed transactional hyperledger. An essential part of implementing and adopting blockchain technology is to rethink these processes and the business rules associated with them.

IBM provides a suite of products to help enable this business transformation:

  • IBM Blueworks Live fosters collaborative discovery and not only serves as an intuitive way to document all workflows and exceptions, but as a single source of truth for all process models.
  • IBM Business Process Manager automates processes and provides end-to-end visibility of process statuses and exceptions.
  • IBM Operational Decision Manager codifies and automates business policies as well as externalize business rules so that they can be quickly and easily updated.

Bring transparency, simplicity and efficiency to every financial transaction

Implementing blockchain technology requires companies to develop and implement smart contracts, which are business rules that regulate transactions occurring on the Hyperledger. Read more about how to make your blockchain smart contracts smarter with business rules.

Business process management streamlines business processes within an organization where participants normally trust each other. In contrast, blockchain enables the execution of business processes across multiple organizations with unfamiliar participants. Combining business process management and blockchain technologies leads to smarter business processes.

Want to learn more? Tune in to the replay of the webinar, Blockchain in Financial Services: Digital Process Automation and Smart Contracts, featuring:

  • Harley Davis, IBM Vice President, France Lab and Decision Management
  • Matthias Kloppmann, IBM Distinguished Engineer, CTO, Digital Process Automation
  • Stephane Mery, IBM Distinguished Engineer, ODM Chief Architect, IBM Hybrid Cloud

Discussion topics include how to incorporate blockchain into existing and future systems, assess the readiness of your core business processes, and evaluate the tangible benefits of smart contract-based distributed transactions.

Learn more about more how blockchain and digital process automation can be integrated to improve business processes.

Learn more about blockchain today

Distinguished Engineer - CTO, Digital Process Automation - Member, TEC CR and Ao, IBM Hybrid Cloud

More Blockchain in financial services stories

BlockpARTy — Making supply chains smarter and more efficient

The products that touch our lives daily make many stops as they progress through the supply chain from producer or manufacturer to customer. It’s largely a patchwork trail composed of mixed digital and paper transaction records rife with inefficiencies. Our innovative clients have a vision of how trusted information sharing and collaboration throughout the journey […]

Continue reading

Recognizing the winners of our Back to Work COVID contest

We at IBM have always believed that some of the most exciting innovations and advancements are happening outside of the major technology companies, a belief embodied in IBM initiatives like Call for Code. As economies and organizations around the world found themselves emerging from lockdowns and beginning to reopen, not only were we asking ourselves […]

Continue reading

BlockpARTy — Sustainability matters

Consumers today care about the interconnected world around them. They expect the companies they buy from to respect the earth and its people as they make their products, whether it’s ethically sourcing palm oil, practicing organic farming methods or minimizing waste. Our innovative clients have a vision of how blockchain is uniquely positioned to demonstrate […]

Continue reading