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complete and secure transaction records, updated and large impact on the structure of trade finance or
verified by users, removing the need for a central derivatives trading, especially more bespoke contracts,
authority. These technologies allow for direct peer-to- and could also be integrated into Robo-advice wealth
peer transactions, which might offer benefits, in terms management services.
of efficiency and security, over existing technological
solutions. The major benefits of this technology are Y E-Aggregators
reduced cost; faster settlement time; reduction in E-Aggregators provide internet-based venues for retail
counterparty risk; reduced need for third party customers to compare the prices and features of a
intermediation; reduced collateral demand and latency; range of financial (and non-financial) products such as
better fraud prevention; greater resiliency; simplification standardized insurance, mortgages, and deposit
of reporting, data collection, and systemic risk account products. They can also provide services that
monitoring; increased interconnectedness; and privacy. allow users to aggregate and analyse their data on their
One of the best-known applications of Blockchain payment patterns, across separate accounts and
technology at the present time is bitcoin. products. E-Aggregators also provide an easy way to
switch between providers and may become a major
Y Peer-to-peer (P2P) lending: distributor for a variety of financial products (e.g.
Peer-to-peer (P2P) lenders connect lenders and PolicyBazzar, Bankbazzar, Paisabazzar, lendingkart,
borrowers. The technology is designed to increase the bestloandeal etc.)
efficiency and reduce the time involved in access to
credit. While P2P lending originally involved direct Y Cloud computing
matching of individual lenders and borrowers on a one- Cloud-based IT services can deliver internet-based
to-one basis, it has evolved into a form of marketplace access to a shared pool of Computing resources that can
lending where institutional and high net worth individual be quickly and easily deployed. Infrastructure, Platform,
investors lend into a pool that borrowers can access. Service and Mobile backend as a service is offered under
The principal benefit of P2P lending for borrowers is the cloud based services. The use of these services is an
fast and convenient access to funding, while for investors important enabler for new entrants to the financial
it is the potential for high returns. services arena to set up quickly and with low start-up
cost, with easy options to expand their capability as the
Y Smart contracts firm grows.
Smart contracts are computer protocols that can self-
execute, self-enforce, self-verify and self-constrain the Y Wearables
performance of a contract. Development of smart Wearable, such as smart watches are poised to become
contracts in relation to financial services could have a the future of the retail banking experience. Overall,
consumer behavior and smart device trends are steering
banking technology advances in the direction of
convenience. An increasing number of remote
technologies will allow customers to interact with the
bank right from the palm of a hand and from email inbox
to visiting an actual branch; customer can expect to
encounter a whole new customer experience, perhaps
even sooner than thinking. According to Samsung
Insights, one example is that banks could use Bluetooth
beacons to push personal greetings to customers' smart
watches when they enter a banking location.

Y Robo advice
"Robo-advice" is the provision of financial advice by
automated, money management providers, thereby

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