FIS Modern Banking Platform
Advance your bank with a modern core platform.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Modern Banking Platform
Advance your bank with a modern core platform.
Data Restore
Protection from disaster.
Code Connect
The power of APIs with the scale of FIS.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Private Capital Suite
Data Exchange Solutions.
IFRS17
The right strategy for transformation.
Commercial Lending
Speed up the decision process.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Harry Stahl, solution architect, Institutional & Wholesale
December 11, 2017
Last month, my colleague Tony Warren blogged about the five technologies that are reshaping financial services. Blockchain, also known as distributed ledger technology, is one of those that the biggest players in the market are already betting on.
It’s pretty clear why it’s getting so much early investment. Blockchain can capture something that’s done in multiple systems today and put it into a shared system (the eponymous distributed ledger). Once you achieve that, not only is the process more streamlined, but subsequent changes are locked down, auditable and fully controlled, which increases accuracy and efficiency and reduces errors.
In fact, I think we’re about to see the first wave of blockchain adoption. And I will make some predications about the types of situations where it will appear first.
I don’t expect that adoption will be monolithic, universal, or instantaneous. But if we start implementation toward the top of the transaction lifecycle – for example, with trade execution – we can rack up some easier wins. That data is relatively clean and straightforward, and capturing it will provide the foundation for tracking the transition through blockchain along rest of the trade life cycle.
As adoption spreads, the power of a single shared source of truth can shift the whole game. Where there’s a single record instead of multiple sources, there’s no need to reconcile records across multiple systems, you have a perfect audit trail, and you can enforce consistent, robust security. And after adjusting operations to reflect the change (not massive but probably not trivial), the result is a simpler, cleaner way of handling the transactions. That’s a feature presentation that everyone wants to see, but it may quickly transform areas that we take for granted today. Are you poised to move as change accelerates?
Tags: Data Management & Analytics, Innovation
Let's work together to reach your goals. Contact us at the links below and a representative will be in touch.
We are here to help you and your business. Contact us using the button below.
Learn more©2021 FIS. Advancing the way the world pays, banks and invests™