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Blockchain Evolves from Buzzword to Major Benefit for Payments, TD Bank Survey Finds

Thursday, February 14, 2019   (0 Comments)
Posted by: Terri Brustad

A recent survey of 406 treasury and finance professionals, conducted by TD Bank, reports that the risk of payments fraud/cybersecurity tops professionals list of concerns, with 44 percent naming it their top operational challenge, a 14 percent year-over-year increase.

Despite industry uncertainties, the majority of the survey respondents (90 percent) feel that blockchain/distributed ledger technology will have some type of positive effect on the payments industry. The top impact of blockchain/distributed ledger technology is its ability to create strong audit trails (29 percent), respondents said. Additional positive outcomes include:

  • speeding up payment process (22 percent)
  • improving efficiency of cross-border payments (21 percent)
  • reducing payments fraud (18 percent)

Members >> read more about respondents views on the positive outcomes of blockchain.

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