In Symbiosis’s Digital Transformations, we’ve worked closely with clients to understand which digital technologies are exciting them (and worrying them) and what business challenges they hope to solve. Together, we developed new technology code and operational architecture to dramatically improve time-to-market for these initiatives and unlock billions of dollars in operational savings and transform global financial operations. We’ve essentially created a blockchain road map to operational excellence and efficiency.

We then saw an opportunity to take what we’d learned in our Financial Innovation Labs and use it to help other companies accelerate their own blockchain projects - because after all, blockchain by its nature gains strength based on the number of entities using the network.

The Symbiosis Blockchain Accelerators can provide financial institutions with solutions that provide:

Reduced costs and fees

Automation of the extensive manual intervention required in many operational cycles - telephone calls, emails, papers or proprietary user identification systems - eliminate redundant tasks, direct processing costs and human error. Payments transfers using digital currencies dramatically reduce third party fees.

Greater security

Transactions stored on a blockchain are virtually tamper-proof. The distributed database requires that all parties reach a consensus on database contents, so no single party can alter the transaction chain without the permission and knowledge of all other parties.

Increased transparency

Shared access to and validation of transactions increases the trust in the integrity of any individual transaction and its accuracy. All parties using the blockchain network view the same contents, making it impossible for multiple uses (or spending) of a single transaction.

Reduced costs and fees

Blockchain-based systems can eliminate counterparties and create more efficient bilateral settlement relationships. Cycle times are faster because of streamlined workflows and reduced paper processing.

Improved customer experience

When redundant data entry is eliminated and cycle times are faster, customers generally are more satisfied. Financial institutions struggling to make legacy processes easier can find process improvements with the strategic application of blockchain technology.

6 Industry Solutions using Blockchain

Symbiosis’s Blockchain Accelerators are working applications that will show you how blockchain can solve real-world operational problems. They will accelerate your integration and deployment program.

Symbiosis has created process frameworks and application code for six industry and process blockchain accelerator solutions.