TD Bank Reported 90% of Financiers Believe Blockchain Will Positively Affect Financial Sector

TD Bank Reported 90% of Financiers Believe Blockchain Will Positively Affect Financial Sector

These data are the result of the survey that has involved 406 finance professionals

On February 6, 2019, American TD Bank published its official press release on the results of the survey among treasury and finance professionals. The survey has shown that 90% of financiers believe blockchain and distributed ledger technology will positively affect the financial sector

TD Bank is America’s Most Convenient Bank and it is a subsidiary of the Canadian Toronto-Dominion Bank. The conducted survey embraced 406 professionals in the payment industry, who attended the 2018 AFP Conference that took place in Chicago, Illinois, November 5-6, 2018.

The survey also revealed that only 14% of the respondents answered that their organization had training strategies for blockchain technology. Furthermore, 45% of the participants stated their organization had training strategies for data and analytics and 26% – for automation and artificial intelligence.

According to the data published, 29% of the respondents believe that the major impact of distributed ledger technology and blockchain is their ability to enhance audit trails. On the contrary, 22% of financial experts suggested the top potential of the technology was speeding up the payment process, 21% said it’s improving cross-border payments, and 18% mentioned reducing payments fraud.

Rick Burke – Head of Corporate Products and Services at TD Bank – expressed an opinion that “the varied responses indicate that the technology’s specific capabilities and implications are still a great unknown for many finance professionals.”

Author: Alena Snezhnaya

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