Home Blockchain Two-Thirds of FI Execs Don't Assume Their Corporations Perceive Crypto and Blockchain Very Effectively – PYMNTS.com

Two-Thirds of FI Execs Don't Assume Their Corporations Perceive Crypto and Blockchain Very Effectively – PYMNTS.com

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Monetary establishments’ (FIs’) blockchain and cryptocurrency implementation roadmaps are, in a way, all around the map. FIs cite 9 various factors as essential drivers of those plans, in response to Cryptocurrency, Blockchain and World Enterprise, a PYMNTS and Circle collaboration primarily based on surveys of executives at 250 multinational companies and 250 FIs. 

Get the report: Cryptocurrency, Blockchain and Global Business 

Among the many most cited components which might be informing FIs’ blockchain and crypto methods are the energy and weak point of present inner infrastructure (26%), the necessity to retain and entice clients (24%) and the potential for higher knowledge safety (23%). 

No single issue emerges as crucial for FIs, though the potential for better operational efficiencies comes closest — 11% of FIs cite it as crucial issue informing their blockchain and crypto methods. 

The limitations blocking the adoption of blockchain and crypto additionally communicate to an absence of readability amongst FIs; simply over 30% of FIs say the profitability of such merchandise is unclear.

The following most-reference barrier was knowledge safety considerations, which 29% cited. One-quarter of FIs cited seven different limitations, together with a lack of awareness blockchain and cryptocurrency providers (27%) and an absence of certainty about demand (27%).

Moreover, vital shares of FI decision-makers lack a agency understanding of cryptocurrency and blockchain applied sciences. Simply 31% of FI executives imagine leaders at their companies perceive the applied sciences “very” or “extraordinarily” nicely. The overwhelming majority — 64% — imagine decision-makers perceive them solely “reasonably” nicely. 

These knowledge factors recommend that there’s a want for sound training and steerage for FIs’ decision-makers so as to resolve these points. If FIs wish to turn into an important on-ramp to blockchain and cryptocurrency providers for company and governmental organizations, their first step is to make sure they’ve the correct training and techniques.

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NEW PYMNTS DATA: AUTHENTICATING IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

About:More than half of U.S. consumers think biometric authentication methods are faster, more convenient and more trustworthy than passwords or PINs — so why are less than 10% using them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception versus use gap and identify ways businesses can boost usage.



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