US

Blockchain application in banking

What we offer

img blockchain 1

Distributed Ledger

Digital Ledger Technology is an alternative to depositing and storing various assets (money, personal data, intellectual property) in banks, medical institutions, or social media. The DLT technology is designed to securely store data and send it straight to the intended recipient bypassing intermediaries and avoiding cheating. DLT-based solutions allow for tracking assets ownership using the principle of decentralization. We use DLT to create private systems with a limited number of participants and public ledgers, as well.

Decentralized applications

Decentralized applications, often referred to as smart contracts, allow for sending money in a decentralized way removing middlemen. These apps are used to exchange property, money, shares in hassle-free way. Smart Contracts are written as code, they include particular conditions, and are publicly available on the ledger. Our blockchain fintech development company delivers decentralized applications concerning your contract conditions and other requirements.

Blockchain for lending

The implementation of blockchain technology for loans can help solve such pressing issues, as a missing view on the credit score, manual data aggregation, frequent cyber-attacks, and many more. Blockchain provides a wide range of benefits like speed, flexibility, security, and transparency. What is more important — users are put in center and given a full control over their sensitive data. We build, test, and implement blockchain for financial services in general, and for loans particularly.

Blockchain for transfers

Money transfers, both domestic and international, are much faster and cheaper with blockchain. It takes a couple of minutes to settle a payment using blockchain. There are no or small fees unlike in traditional banking. We offer our professional consulting on how to better implement a blockchain application in banking and financial organizations.

img blockchain 2

Benefits of blockchain solutions for banking

Transparent operations

The distributed ledger technology allows for viewing a complete history of transactions and tracing every single asset to its origin. The transparency capabilities help avoid fraud and money-laundering which is now one of the most pressing issues in banks and financial institutions. We are always at your disposal to discuss the opportunities your organizations may get with blockchain implementation. Our experts will consult you on various applications of blockchain in financial services and banking.

Innovative services

Digital transformation is all about adopting and implementing advanced technologies in your processes, services, and business in general. Blockchain solutions for banking are a good way to surprise your customers and present something quite different your competitors offer. It is a unique possibility to introduce instant and secure payments without or little fees. It is a chance to partner with fintech to offer exclusive services and products your competitor will hardly offer.

Instant settlements

One of the main advantages blockchain brings to the financial services is instant settlements possible thanks to the absence of an intermediary between a payor and a recipient. In contrast to traditional banking, where payments take days or even weeks, blockchain payments are fast and are settled within a few minutes. This feature attracts customers as there’s a strong demand for fast, secure, and low-fee payments among consumers. Thus, incumbent banks are actively exploring instant settlements to implement these for their service offerings.

Enhanced performance

Financial services offering smart contracts are able to enhance their contractual performance — smart contracts are fulfilled automatically. It is crucial that smart contracts have predetermined terms and conditions, are based on law and compliant to regulations. Our blockchain fintech development company has expertise in building custom-tailored smart contracts with pre-set terms. Our analysts and blockchain experts will discover your business and consult you on the best approaches to develop smart contracts for your organization and customers.

Our blockchain fintech app development process

Analysis

Any project related to blockchain solutions for financial services begins with your business discovery. Our business analysts explore your business challenges, goals, translate your mission into a project vision. The BA phase also includes requirements gathering and planning. As deliverables, you get a project roadmap, work breakdown structure, software specification, and the date when your project will be finished.

Development

On the design and development stages, we develop blockchain solutions based on the pre-set requirements. These phases are the most time-consuming. However, our Agile development process is standard-driven and thus, goes smoothly and fast. Due to well-established quality assurance process and best practices, we guarantee blockchain products delivery on time, scope, and budget.

Testing

Testing is performed on every stage of the software development lifecycle to ensure the highest quality of the end blockchain product. We provide all types of manual testing as well as have expertise in writing automated tests for long-lasting and complex projects. Our customers get regular reports on testing results along with predefined metrics.

Deployment

We proceed to deployment after user acceptance testing. Our experts will notify you of the planned deployment date and analyze your environment. If any issues are detected, we will inform you about that and ask for resolving them. Deployment is client’s responsibility; however, we are proactive to help you make this process as smooth and stress-free as possible.

What impacts your project duration

The duration of a Blockchain project is affected by many factors. The most important are mentioned below.

  • Project requirements
  • Expected deadlines
  • Team composition
  • Chosen technology and platforms
  • Type and complexity of a blockchain solution

What affects your project costs

To estimate the cost of a blockchain project, we consider a lot of things. 

  • Project scope and complexity
  • Chosen technology
  • Project completion urgency
  • Engagement model: Fixed Price, Time and Material, Dedicated Team

What we need from your side

Our clients entrust their projects to us as they are sure that we will deliver them on time, scope, and budget. Usually, we need some information from your side. Your goals and vision are very crucial for the appropriate planning. Based on your requirements, we create software specification document. Thus, we appreciate it if you provide us as much data as possible.
  • Project goals, vision, and roadmap if exist
  • High-level project requirements
  • Project-specific documentation if available, for example, software architecture and mockups
  • Client’s availability (a couple of hours per week for requirements gathering sessions)
  • Project deadlines

Our tech stack

  • Corda Corda
  • Hyperledger Hyperledger
  • MultiChain MultiChain
  • Quorum Quorum
  • Solidity Solidity

Explore our case studies

Marketing and Advertising

Custom software development scrapper tools

  • Python
  • React.JS
  • Software architecture
  • Custom software development
  • Big data
  • Marketing
Learn more

Maritime

Scoutbase web platform for Maritime

  • GraphQL
  • AWS
  • Software architecture
  • UI/UX design
  • Cloud solutions
  • Big data
  • Denmark
  • Maritime
Learn more

Financial Services

SmartValor blockchain app

  • JavaScript
  • Angular JS
  • Software architecture
  • Web app development
  • Cloud solutions
  • BI and reporting
  • Switzerland
  • Financial Services
Learn more

Computer Software

Optimization of SimpleTix

  • Telerik
  • .NET
  • Software architecture
  • Custom software development
  • Cloud solutions
  • USA
  • Computer software
Learn more

Real Estate

Vacation Rental Pros redevelopment

  • Software architecture
  • Custom software development
  • Cloud solutions
  • Big Data
  • USA
  • Real estate
  • Rental
Learn more

Government

Optimization of government-grade servers

  • AWS
  • DevOps
  • Software audit
  • Cloud solutions
  • Japan
  • Government
  • Transportation
Learn more

Internet

MS office toolbar for Zola Media

  • Office 365
  • Software architecture
  • Custom software development
  • Cloud solutions
  • USA
  • Internet
Learn more

Computer Games

Goal one mobile app

  • Unity
  • Cocos2d
  • Software architecture
  • Mobile app development
  • Germany
  • Computer games
  • Entertainment
Learn more

Computer Software

Pinpoint payment plugin optimization

  • Magento
  • Cloud solutions
  • Blockchain
  • Software architecture
  • Custom software development
  • Israel
  • Computer software
Learn more

Financial Services

HCM data management system

  • Vue
  • Python
  • Software architecture
  • Custom software development
  • Big data
  • Cloud solutions
  • Financial services
  • Germany
Learn more

Healthcare

A web .NET-based app for dental clinics

  • .NET
  • Adobe Illustrator
  • Software architecture
  • UI/UX design
  • Cloud solutions
  • BI and reporting
  • Norway
  • Healthcare
Learn more

Government

COVID-19 monitoring in Saudi Arabia

  • React
  • PostgreSQL
  • Cloud solutions
  • Big data
  • Software architecture
  • Web app development
  • KSA
  • Government
Learn more

Retail

ERP project for Total Image Group

  • .NET
  • Angular
  • Software architecture
  • Web app development
  • Big Data
  • Cloud solutions
  • Australia
  • Retail
Learn more

Retail

eCommerce project for Total Image Group

  • .NET
  • Angular
  • Software architecture
  • Web app development
  • Big Data
  • Cloud solutions
  • Australia
  • Retail
Learn more

Aviation & Aerospace

Spark streaming big data solution for Naya

  • Python
  • Spark streaming
  • Software architecture
  • Custom software development
  • Big Data
  • Real-time data processing
  • Israel
  • Aviation & Aerospace
Learn more

Insurance

Insly cloud-based insurance platform

  • Google cloud platform
  • Cloud solutions
  • Big Data
  • Software architecture
  • Web app development
  • Estonia
  • Insurance
  • Insurtech
Learn more

Computer Software

Security app for Gunnebo

  • Xamarin
  • .NET
  • Mobile app development
  • System integration services
  • IoT
  • Video streaming
  • Sweden
  • IT security
Learn more

Healthcare

SaaS project for HealthyWage

  • Python
  • Java
  • Software architecture
  • Mobile app development
  • USA
  • Healthcare
  • Wellness
Learn more

Logistics

A fleet management app for soldier trucking

  • .NET Core
  • Azure
  • Web app development
  • Software architecture
  • USA
  • Logistics
  • Automotive
Learn more

Real Estate

Business analysis of a spiky property management system for Kaizen

  • Cloud solutions
  • Software audit
  • Software architecture
  • UAE
  • Real estate
  • Property management
  • Smart city
Learn more

Education

Education web and mobile solution for Computopic

  • Symfony
  • Apache
  • Cloud solutions
  • Mobile app development
  • Web app development
  • Software architecture
  • Denmark
  • Education
Learn more

Logistics

Blockchain logistics platform for Vlantana

  • Angular
  • HTML5
  • Software architecture
  • System integration
  • Data warehouse
  • ETL
  • Spain
  • Logistics
Learn more

Computer Software

CEM web app for Ethos

  • .NET
  • C#
  • Software architecture
  • UI/UX design
  • Cloud solutions
  • UAE
  • Computer software
  • Project management
Learn more

Social

Enhanced Connector.org web app

  • C#
  • Azure
  • Software architecture
  • UI/UX design
  • Cloud solutions
  • Big data
  • USA
  • Social
Learn more

Marketing and Advertising

Code audit for Propellant

  • C#
  • JavaScript
  • Software audit
  • Software architecture
  • Cloud solutions
  • Denmark
  • Advertising
  • Marketing
Learn more

Healthcare

Mobile app for appointment scheduling

  • Web app development
  • Mobile app development
  • Cloud solutions
  • Healthcare
  • Norway
Learn more

Banking

Blockchain crypto wallet for ICO and crowdsales

  • AngularJS
  • Python
  • Software architecture
  • UI/UX design
  • Blockchain
  • Cloud solutions
  • Banking
Learn more

Financial Services

VAT application for financial services companies

  • .NET
  • Maestrano
  • Software architecture
  • UI/UX design
  • Cloud solutions
  • BI & reporting
  • Australia
  • Financial Services
Learn more

Entertainment

SynergySport baseball analytics solution

  • WPF
  • Avalonia
  • Software architecture
  • UI/UX design
  • BI & reporting
  • Big data
  • Sport
Learn more

Agriculture

Web-based Earth observation crop rotation software

  • Python
  • Software architecture
  • System integration services
  • Big data
  • Data science
  • Agriculture
Learn more

Computer Software

Terrabit cloud web app for TerraPoint Networks

  • .NET
  • Angular
  • UI/UX design
  • Custom software development
  • Cloud solutions
  • Big data
  • Singapore
  • Computer software
Learn more

Retail

TecTelik new website

  • WordPress
  • UI/UX design
  • Software architecture
  • Cloud solutions
  • Canada
  • Retail
Learn more

Insurance

A B2B application for Risk Point

  • Insurance
  • Custom software development
  • Manual testing
  • UI/UX design
Learn more

Insurance

Earth observation software for insurance niche

  • Custom software development
  • Insurance
  • Insurtech
Learn more

All Industries

Cloud-based software for Earth observation

  • Cloud solutions
  • custom software development
  • Image recognition
  • Agriculture
Learn more

Financial Services

Web-based binary option platform on cryptocurrencies

  • Web app development
  • UI/UX design
  • Manual testing
  • Automated testing
  • Blockchain
Learn more

Banking

Contactless payment solution

  • NFC
  • Payment gateway
  • custom software development
Learn more

Oil & Energy

Cloud-based software for oil and gas company

  • Cloud solutions
  • custom software development
  • BI & reporting
  • Artificial intelligence
Learn more

Banking

Secure payment gateway for banking

  • Custom software development
  • Fintech
  • Payment gateway
Learn more

Retail

Outlook add-in for the GBS platform

  • Custom software development
  • BI & reporting
  • Data warehouse & ETL
Learn more

Banking

eCommerce payment solution

  • Fintech
  • Custom software development
  • Payment gateway
Learn more

Banking

White-label processing center for banking industry

  • Banking
Learn more

Agriculture

Earth observation application for soil moisture drones

  • Custom software development
  • Data science
  • Big data
Learn more

Insurance

KloonRisk - an insurance broker solution for Kloud-Soft

  • Azure
  • Microsoft
  • Insurance
  • Insurtech
  • Custom software development
  • Cloud solutions
Learn more

Healthcare

Health system solution for ReStart Consulting

  • Custom software development
  • UI/UX design
  • Healthcare
Learn more

Government

Blockchain-based voting app

  • Custom software development
  • Blockchain
Learn more

Real Estate

Blockchain-based real estate purchasing platform

  • Custom software development
  • Real estate
  • Blockchain
  • Ethereum
Learn more

Computer Software

BI upgrade for ApexSQL

  • SQL
  • Microsoft
  • BI & reporting
  • Custom software development
Learn more

Computer Software

SSAS loader upgrade for ApexSQL

  • SQL
  • Microsoft
  • SSAS
  • Database
  • XMLA
  • Custom software development
Learn more

Computer Software

SourceControl upgrade and Git integration for ApexSQL

  • SQL
  • Microsoft
  • SourceControl
  • Custom software development
Learn more

Computer Software

Always on support integration for ApexSQL

  • SQL
  • Microsoft
  • Custom software development
Learn more

Computer Software

Extended events engine integration for ApexSQL

  • SQL
  • Microsoft
  • Custom software development
Learn more

Computer Software

CI/CD dashboard for ApexSQL

  • SQL
  • Microsoft
  • CI/CD
  • Custom software development
  • DevOps
Learn more

Computer Software

BI loaders upgrade for ApexSQL

  • SQL
  • Microsoft
  • Custom software development
  • Software audit
Learn more

Computer Software

Aggregated reports for ApexSQL

  • SQL
  • Microsoft
  • Custom software development
  • Software audit
Learn more

Banking

Oracle FLEXCUBE modification for bank al Etihad

  • Oracle Database
  • Oracle FLEXCUBE
  • Software audit
  • Legacy application modernization
  • BI & reporting
  • Data warehouse & ETL
  • Oracle
  • Banking
Learn more

Computer Software

Database migration analysis software for NAYA Tech

  • Java
  • Spring
  • Software architecture
  • UI/UX design
  • Custom software development
  • Manual testing
  • Automated testing
  • BI & reporting
Learn more

Retail

E-commerce migration from Hybris to Magento 2 for Palmers Textil

  • Magento
  • Software architecture
  • UI/UX design
  • Web app development
  • Legacy application modernization
  • System integration services
  • Data migration services
  • BI & reporting
Learn more

Automotive

Enterprise resource planning tool for a transport company

  • Angular
  • NET
  • Software architecture
  • UI/UX design
  • Custom software development
  • System integration services
  • BI & reporting
  • Cloud solutions
Learn more

Automotive

Online car auction system

  • .NET
  • C#
  • Vue.js
  • UI/UX design
  • Web app development
  • System integration services
  • BI & reporting
  • Cloud solutions
Learn more

Restaurants

Restaurant rewards platform and apps

  • C#
  • .NET
  • Android
  • iOS
  • Microsoft Azure
  • Xamarin
  • UI/UX design
  • Web app development
Learn more

Computer Software

End-to-end cloud platform – e-commerce, workflow, order management, resource management

  • Angular 8
  • PHP
  • MongoDB
  • Software audit
  • Web app development
  • Custom software development
  • System integration services
  • BI & reporting
Learn more

Insurance

FSA – a self-service benefits management solution

  • AngularJS
  • ASP.NET
  • Microsoft Azure Cloud
  • Visual Studio
  • Software Architecture
  • UI/UX design
  • Custom software development
  • Software support
Learn more

Insurance

RiskVille cloud solution for risk and insurance management

  • Microsoft Azure Cloud
  • C#
  • .NET Core
  • Visual Studio
  • Custom software development
  • Mobile app development
  • UI/UX design
  • Web app development
Learn more

Automotive

Build-a-brand marketing and branding software

  • C#
  • Angular
  • .NET
  • JavaScript
  • Mobile app development
  • UI/UX design
  • Web app development
  • BI & reporting
Learn more

Human Resource

TeamBase HRM solution

  • .NET
  • Angular
  • Microsoft Azure Cloud
  • Visual Studio
  • Mobile app development
  • UI/UX design
  • Web app development
  • Custom software development
Learn more

Insurance

BenefitNet claims management solution

  • .NET
  • Angular
  • Microsoft Azure Cloud
  • Visual Studio
  • UI/UX design
  • Web app development
  • Custom software development
  • BI & reporting
Learn more

Banking

Data aggregation hub for treasury

  • Angular
  • Oracle
  • NodeJS
  • Custom software development
  • Data migration services
  • Data warehouse & ETL
  • Data science
  • Banking
Learn more

Healthcare

Medical research system

  • C#
  • PostgreSQL
  • ReactJS
  • Custom software development
  • Data migration services
  • System integration services
  • Data warehouse & ETL
  • Healthcare
Learn more

Healthcare

Wearable healthcheck tracker

  • .NET
  • Angular
  • Xamarin
  • Custom software development
  • Mobile app development
  • Data migration services
  • IoT
  • Wearables
Learn more

Banking

Customer 360 system for bank

  • Oracle
  • Software architecture
  • Custom software development
  • Data warehouse & ETL
  • BI & reporting
  • Data science
  • Banking
  • Jordan
Learn more

Banking

Siebel to Appian data migration in banking

  • Appian
  • Oracle
  • Java
  • Siebel CRM
  • PL/SQL
  • Legacy application modernization
  • Data warehouse & ETL
  • Banking
Learn more

Computer Software

Subscription management and enterprise functionality in existing web apps

  • ASP.NET
  • MySQL
  • Sitecore
  • Software architecture
  • System integration services
  • Web app development
  • Robotics process automation
  • BI & reporting
Learn more

Banking

Data warehouse for bank

  • PL/SQL
  • Oracle
  • Software architecture
  • System integration services
  • Data migration services
  • UI/UX design
  • Data warehouse & ETL
  • BI & reporting
Learn more

Banking

Robotics process automation for import/export operations

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • United Kingdom
Learn more

Banking

Robotics process automation for anti-money laundering

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • Germany
Learn more

Banking

Robotics process automation for report processing

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • Saudi Arabia
Learn more

Banking

Robotics process automation for cash transactions

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • Ukraine
Learn more

Banking

Robotics process automation for payroll processing

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • Ukraine
Learn more

Banking

Robotics process automation for payment processing

  • UiPath
  • Software architecture
  • UI/UX design
  • System integration services
  • Robotics process automation
  • Banking
  • Ukraine
Learn more

Insurance

All-in-one insurance management system

  • ASP.NET MVC 5
  • .NET Core
  • C#
  • AngularJS
  • Software architecture
  • UI/UX design
  • Custom software development
  • BI & reporting
Learn more

Entertainment

Music event platform for fans and hosts

  • .NET Core
  • Angular
  • Software architecture
  • UI/UX design
  • Web app development
  • Custom software development
  • Manual testing
  • Automated testing
Learn more

Insurance

Insurance applications for cloud software provider

  • Python
  • JavaScript
  • Custom software development
  • Mobile app development
  • UI/UX design
  • Web app development
  • BI & reporting
  • Cloud solutions
Learn more

Frequently asked questions

How is blockchain used in banking?

Blockchain in banking can be used for faster and cheaper money transfers, payments, and smart contracts. Traditional banks adopting blockchain can benefit from getting innovative technology on board and attracting more customers with unique services and products.

What is blockchain in banking sector?

Blockchain in baking sector is an innovative experience banks can present to their customers. Unlike traditional banking solutions, blockchain is cheaper, faster, and securer. We help banks and financial institutions implement blockchain in their operations and service offerings.

Why is blockchain important for banks?

Blockchain is a new technology that can help any bank achieve a competitive edge. Blockchain allows banks to keep transfers transparently, reduce fraud and money laundering activities, improve know your customer (KYC) processes, and attract more customers.

Similar industry

Contact us

    Name

    Email

    Phone

    Become a customer
    How we can help you

    Message

    Thank you! We will contact you soon

    Trusted partner who delivers on scope, on time and on budget

    To top of page
    To top of page