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NEWS ABN Amro expands blockchain knowledge
University of Technology, based in Holland, to develop blockchain technology that can deal with large amounts of data and users, with the goal of creating working applications over the next six months. ABN Amro staff members will also attend blockchain-related seminars and workshops at the university.
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The applications will be based on previous work done at TU Delft on blockchain, which was recently amalgamated within its blockchain lab. TU Delft has been working on the technology since 2007. All of the code developed will be open source. Arjan van Os, head of ABN Amro’s innovation wing, says: “We are delighted to be able to work with an expert partner like TU Delft. This offers us an excellent opportunity to expand our knowledge and gain a deeper understanding of the ways in which blockchain applications
BN Amro is working with the Delft
can be used. The fact that it is being approached from a scientific perspective makes it especially interesting.”
ABN Amro is also a member of the Linux Foundation- led Hyperledger project and an investor in blockchain startup Digital Asset Holdings.
Scott Thompson Brits steer clear of mobile banks
banks springing up in the UK, Brits are among the least likely in the world to use them. That’s according to the Nielsen Mobile Shopping, Banking and Payment Survey, which polled more than 30,000 online respondents in 63 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America.
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63% of Brits are wary of mobile-only banks, due to security reasons and a reluctance to let go of the High Street branch. Only four countries – France, Belgium, Hungary and New Zealand – are less keen than the UK. People in India are the most likely to get onboard (46% say they’re highly likely to do so) followed by Indonesians (37%). Even though there is much work to do in the UK, the 10% who expressed an interest, “still gives mobile-only banks a potential customer base of around 4.6 million British adults,” according to Stuart Tagg, Nielsen Europe’s financial services leader.
espite the large number of mobile-only
“The reality is that mobile-only banking is most likely to take off in developing countries where the majority of the population
don’t have bank accounts or easy access to physical branches,” says Tagg. “However, there’s still a good opportunity in Britain, particularly if banks can overcome the general unease about sharing financial information digitally by convincing people that mobile banking is as secure as going into a branch. It’s then that the sheer convenience of mobile banking could make many reconsider.” He adds that an “easy-in-theory” win for mobile-only banks is giving higher interest rates, this increases the number of people likely to use them by nearly 2.5 times, “after all, banking is about money.”
Scott Thompson
www.ibsintelligence.com © IBS Intelligence 2016
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