Blockchain in Banking:
A Simple Guide for You

By Nash Nithi

You’ve probably seen the word blockchain everywhere lately. It’s no longer just about cryptocurrency. Banks around the world are now using it to speed up transactions, improve security and reduce costs. If you’re planning a career in finance or fintech, blockchain is something you’ll want to understand.

So, What Is Blockchain?

Think of blockchain as a shared digital record book.

Instead of being stored in one place, the information lives across many computers. Every transaction is recorded, locked in and time-stamped. Once it’s added, no one can secretly change it. This makes it extremely trustworthy for banking.

Why Blockchain Matters to You

1. Faster Payments

Cross-border payments can take days. With blockchain, they can settle in minutes. That means quicker, cheaper transfers for you and everyone else.

2. Better Security

Because each transaction is encrypted and checked by many computers, fraud becomes much harder. This protects your money and personal data.

3. Full Transparency

Every transaction leaves a clear, traceable trail. Banks, regulators and customers can see what’s happening without confusion or hidden steps.

4. Smart Contracts That Work Automatically

Imagine applying for a loan and having everything verified instantly. Smart contracts can do exactly that. No waiting, no paperwork, no back-and-forth.

Where Banks Are Using Blockchain Now

You’ll find blockchain in:

international payments
fraud prevention
identity verification
trade finance
digital assets and tokenisation

Major banks such as JPMorgan, HSBC and Standard Chartered already rely on blockchain to improve their operations.

How an MBA Helps You Understand A Bit More

Blockchain isn’t only a tech topic. It affects strategy, operations and business decision-making. If you want to lead in the banking or fintech sector, the right qualification will give you a bigger picture.

Veritas University College offers a specialised MBA that will help you understand blockchain better.

MBA in Digital Transformation (ODL)

Why Blockchain Knowledge Makes You Employable

With banks digitising rapidly, employers now value people who understand:

digital payments
blockchain fundamentals
fintech regulations
cybersecurity
financial innovation

Pair these skills with an MBA and you become someone who can lead—not just follow—change in the banking industry.

Blockchain is reshaping how banks move money, protect data and manage transactions. By learning how it works, you stay ahead in a world that’s rapidly turning digital.

References

https://www.ibm.com/topics/blockchain
https://www2.deloitte.com/global/en/pages/financial-services/articles/blockchain-in-banking.html
https://www.pwc.com/gx/en/issues/fintech/blockchain.html