The Role of Blockchain

Finance functions in financial services institutions continue to be characterized by complex issues constraining finance professionals’ ability to provide timely and accurate information to internal stakeholders, shareholders and regulators. Blockchain technology has the potential to significantly reduce these issues for finance functions. At the heart of blockchain is a shared, versioned, and irrefutable digital ledger, which each party needing to see financial data can access. Such shared ledgers could be applied within financial services institutions across their businesses, legal entities and divisions as well as across a consortium of banks. Ultimately, blockchain could help you to create a faster, cheaper, more efficient, and more transparent finance function.

Boardwalk Enterprise Blockchain for financial services

Boardwalk Enterprise Blockchain provides a technology platform which enables business users to establish a trusted data management and tracking repository that’s fully integrated with the company’s enterprise information systems and is verifiable across multiple parties. Financial services professionals are now able to identify and take further action against risk-managed changes that are happening within critical processes before they negatively impact the business. Expectations for compliance are high, and, at a time when regulatory and consumer trust in financial services remains low, the compliance function can play a powerful role in making needed changes within the industry.

  • All other financial services solutions typically work at a file level and require a tedious mapping of data elements or move users to an entirely new environment requiring a re-platforming process -- both of which lack a digital ledger blockchain data environment making it difficult to understand how data is changing within critical processes.
  • Only Boardwalk-powered applications leverage patented, business-level data management technology. This makes it possible for users to identify and take action against risk-managed changes that are happening within critical legacy data environments.