Lunch Session: Embracing disruption through Blockchain Technology in Financial Services
Managing Director, US Management Consulting, KPMG LLP
Director, KPMG LLP
Blockchain technology is creating rapid technological change in Financial services firms that could shift how firms interact with their customers and the types of services that they offer to them, and the cost of executing business. After years of increasing overhead and compliance burdens, Blockchain is a light at the end of the tunnel as it creates a channel for lower cost execution and a tool to restore profitability. Since 2015 firms have been evaluating blockchain technology in the application of a number of use case areas such as payments, exchanges, digital identity, clearing and settlement among many others. KPMG has been working with our clients to help them evaluate blockchain in the context of their respective business models and to identify opportunities to capture data, enhance processes, expand footprints, create new businesses or defend against disintermediation. KPMG will share some real life examples of engagements underway or future opportunities for the industry including such as OTC derivatives, Mortgage Origination, KYC in payments and funds trading.