INTERVIEW: How Blockchain Could Revolutionise The Way Private Banks Store Data

Josh O'Neill

9 May 2017

Private banks could streamline onboarding by creating “digital vaults” underpinned by blockchain technology that safely store clients' details and data, the chief strategy officer of a financial technology giant has suggested.

Because of their association with privacy, private banks tend to be trusted more than their retail or business counterparts by consumers. And they should capitalise on this using enhanced technology systems to store sensitive information and differentiate themselves from competition, says Ben Robinson, , I have met more than 10 clients from the wealth space and not one of them has asked me about blockchain.

“Is it a hot topic on the table right now? It doesn't seem so.”