Challenges faced by the fintech industry
Regulations
Medici Insights projects that global demand for regulatory services will exceed $118bn by 2020. In this light, fintech companies look for innovative and reliable tools that will guarantee compliance with existing regulations.
Transaction fraud
Transactions remain difficult to track, and this opacity leaves room for fraud and increases distrust from clients. J.P. Morgan found that in the last five years, payments fraud grew by 82% among US companies.
Unbanked population
Millions of US residents can’t get loans, mortgages, or rent apartments. According to CFPB, every 10th adult in the US doesn’t have a bank account, while 19m residents have unscored credit histories.
Slow procedures
From application and credit risk evaluation to transfer of ownership and repayment, modern lending processes are complex and drown in bureaucracy, taking creditors’ time on manual processing.
Expensive remittances
Cross-border transactions involve banks, credit card processors, and other intermediaries, increasing the complexity and costs of the whole process.
Cyberattacks
According to law firm RCP, data breaches reported to FCA jumped 480% between 2017 and 2018, reflecting growing gaps in modern security practices.
Pipe trading platform for p2p-enabled trades on the pipe market
Pipe trading platform is an Ethereum-based solution that covers all the operations, processes, and entities on the pipe trading market. Intuitive interface and well-thought-out back-end and front-end architecture allow for seamless p2p transaction management (from sending to receiving pipes).
Request a demo
Tea exchange platform for tea trading
A tea market trading solution for fast, secure, and tamper-proof deals. Contract signing, payment issuing, and other operations are covered by smart contracts, which guarantees their autonomous execution. Built on Hyperledger, the platform enables permissioned, cryptography-protected operations.
Request a demo
Decentralized trading platform for cryptography-backed trades
Aetsoft shared its technical expertise in the development of a decentralized exchange (DEX) running on top of the BitShares blockchain. The delivered solution offers high network scalability, reaching 100.000 TPS, advanced asset protection via cryptography and 2FA, support of 50+ coins, and 24/7 help desk.
Learn more
DEX mobile wallet: instant and protected access for DEX mobile users
For DEX users who need constant and seamless access to their assets, we developed a mobile wallet app on iOS and Android. It allows securely checking account balance, transaction history, and other relevant data, managing transactions by sending and withdrawing funds and canceling orders, and exchanging assets between users.
Learn more
Blockchain solutions for fintech from Aetsoft
Advanced credit scoring
DLT-based tools can improve credit scoring by arranging a vast universal database for client information, with more credit rating resources, including credit histories, available for banks to analyze.
KYC and AML compliance
Store data about every asset and every performed action on a distributed immutable ledger, providing integrity and validity of financial reports and audits to meet KYC and AML requirements.
Ownership tracking
Track and easily validate every transfer of ownership event, with all actions logged in a permanent ledger protected from outside intrusion, forming trusted audit trails.
Direct remittances
Cut out middlemen and save time, effort, and money on remittances to ensure direct sender-to-receiver money transfers through self-executing, code-dependent smart contracts.
Hack-proof
Use blockchain to build a cryptographic protection layer around your financial data, with entry points distributed among all nodes, and every action — whether legal or criminal — visible.
Fast operations
Get fast, secure, and autonomous financial operations initiated by smart contracts strictly upon meeting pre-defined requirements.
Discuss a project
Tell us about your future blockchain fintech project, and we will get back to you shortly with a free consultation.
Get expert adviceBlockchain applications in fintech
Use case 1. Fast remittances
Currently
Fees, regulations, and fraud risks harden remittances, particularly cross-border ones, and even result in fund theft during transactions.
With blockchain
Provide fast and tamper-proof remittance services for clients, with all transactions taking place on a decentralized, incorruptible blockchain network.
Use case 2. Digital payments
Currently
Customers who make purchases daily with credit cards often deal with the provider’s network issues, bringing slow payment processing and even fraud to the table.
With blockchain
Allow customers to pay in blockchain-enabled assets guaranteeing high transaction speeds along with data security.
Use case 3. Automated securities trading
Currently
Traditional securities trading is a slow and sometimes unreliable process, where buyers should deal with brokers before the exchange, which adds unnecessary friction.
With blockchain
Handle all trading steps, from order to confirmation, automatically by delegating intermediary-dependent tasks to self-enforcing smart contracts.
Explore our solutions for:
Have a project idea? Schedule a call with us!
Shoot us an email with your request, and we will contact you within one business day.
