<p><span style="text-align: justify;">Explore the PCI DSS requirements checklist and check what businesses are obliged to comply with this security standard.</span></p>

Explore the PCI DSS requirements checklist and check what businesses are obliged to comply with this security standard.

PCI Compliance Checklist: Check Requirements | Agilie

<p dir="ltr" style="text-align: justify;">In 2024, the fintech industry will gather at numerous events worldwide, each providing a unique perspective into the future of finance and technology. These conventions will be devoted to various topics such as digital advances, customer engagement, blockchain, AI and machine learning, process improvement, and many others. The collection in key financial centers around the globe will be quite profitable for learning, networking purposes, and showcasing the newer demos in fintech. They are intended to upgrade the sector.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, as a software development expert in the fintech industry, is excited to tell you about the top events this year to attend. Let&rsquo;s explore them.</p>
<h2 dir="ltr" style="text-align: justify;">Finovate Europe</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940295831.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 27-28 February</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Intercontinental O2, London</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &pound;2,199.00 + 20% VAT &pound;439.80</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">FinovateEurope is a leading fintech conference focused on cutting-edge financial technology innovations and networking opportunities for accelerated growth in the sector. With a turnout of over 1000 influential individuals, boasting more than 500 representatives from the financial industry, and showcasing over 35 fintech demos, this event offers valuable insights. Topics include sustainable finance, generative AI, financial literacy, AML regulations, identity authentication, and personalization. This gathering provides senior personnel from banks to investors with the perfect opportunity to engage in discussions centered around the future of finance while fostering connections.</p>
<h2 dir="ltr" style="text-align: justify;">FiNext</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940192060.webp" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 28-29 February</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Dubai</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $1,199</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The FiNext Conference gathers various professionals in the finance industry. It allows tech startups, SMEs, investors, and incumbent providers to share experiences and forge partnerships. The main topics of this event are banking security, corporate cash management strategies, and cloud IT platforms.</p>
<h2 dir="ltr" style="text-align: justify;">MoneyLive Summit</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940514207.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 6-7 March</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: QEII Centre, London</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;1,899.00 + VAT</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The MoneyLIVE 2024 Summit delves into key banking and payments topics: the global economy, changes related to artificial intelligence and Web 3.0, innovative payment solutions, open finance initiatives, lending strategies, digital currencies, and the future of the CBDCs member countries' payment infrastructure. The summit also explores fraud prevention and using digital identifiers and anti-money laundering. Overall, it is a comprehensive event highlighting macroeconomic forecasts and presenting the latest developments in the industry.</p>
<h2 dir="ltr" style="text-align: justify;">The Financial Brand Forum</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940763182.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 20-22 May</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Las Vegas, NV (Aria Hotel Resort)</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $2995</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The Financial Brands Forum is aimed at banking and financial services professionals specializing in marketing, CX, data analytics, and digital transformation. The event provides valuable insights into achieving growth through the newest strategies, trends, and technologies in financial services.</p>
<h2 dir="ltr" style="text-align: justify;">Money 20/20 Europe</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708940923052.png" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 4-6 June</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Amsterdam</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;3,295 + sales tax 21%</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Money20/20 Europe is a notable fintech event made up of innovations in the area of human and machine collaborations. The conference highlights the transformation of consumer and business interactions via technology, which aims to boost efficiency and experience anew in the financial domain. It attracts about 8,500 visitors, 390+ sponsors, and 350+ speakers from more than 100 countries, symbolizing its worldwide reach and source of various opinions and ideas to the fintech industry, which is essential for understanding <a title="how to develop a fintech app" href="https://agilie.com/blog/how-to-build-a-fintech-app" target="_blank" rel="noopener">how to develop a fintech app</a>.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;">Insurance Tech &amp; Innovation Conference</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941203815.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 12-13 June</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Chicago, USA</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $899</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The Insurance Tech Innovation Conference highlights improving customer experiences using modern engagement models such as chatbots, omnichannel assistance, and other innovative solutions. Attendees will explore how digital changes have disrupted traditional insurance processes using analytics, blockchain technologies, and cloud systems. It also covers process transformation through RPA, legacy system modernization, automated compliance, and developing a roadmap for claims transformation and virtual claims handling.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;">Fintech Devcon</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941450043.png" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 7-9 August</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Austin, Texas</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $995</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Fintech DevCon is an esteemed gathering for developers in the fintech field. The event equips attendees with practical tools, best practices, and insider information from experienced current practitioners while strictly adhering to a no-sales pitch guideline. This conference strives to provide comprehensive insights into technical elements of fintech development through informative sessions that delve deeper into rising technologies, new methodologies of development, and inventive solutions pertaining specifically to this domain.</p>
<h2 dir="ltr" style="text-align: justify;">FinovateFall</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708941822353.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 9-11 September</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: New York</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $2,698</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">FinovateFall focuses on the forefront of financial technology innovations, featuring over 70 product demos on a wide array of financial services technology, including blockchain, digital banking, and AI. It highlights 100+ innovators addressing the current financial climate, offering insights to navigate future challenges. The event is a hub for meaningful connections, with over 50% of attendees from financial institutions, including representation from the top 10 US banks. It's an essential conference for staying updated on fintech advancements and networking within the industry.</p>
<h2 dir="ltr" style="text-align: justify;">European Blockchain Convention (EBC)</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942002220.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 25-26 September</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Barcelona</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: &euro;1,999 + 10% VAT</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The European Blockchain Convention covers digital assets and finance, including tokenization and CBDCs; Web3 technologies such as the metaverse and NFTs; infrastructure developments like smart contracts and DApps; policy discussions on regulation and standards; and blockchain enterprise applications in supply chain and identity. It gathers industry leaders to discuss the future of blockchain in various sectors.</p>
<h2 dir="ltr" style="text-align: justify;">Money 20/20</h2>
<p style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942228750.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 27-30 October</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: Las Vegas</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Price: $3,999</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Money20/20 is a major event that seeks to bridge the gap between humans and machines in the financial sector to transform consumer and business interactions. It gives a podium to the top sector leaders and the outcasts to elaborate on the future of money, including digital currencies, payment innovation, and fintech solutions. The event provides a platform for the participants of the global money ecosystem, such as banks, financial services, and financial tech startups, to explore new ways of collaboration and innovation.</p>
<h2 dir="ltr" style="text-align: justify;">Fintech Talents Festival</h2>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708942390810.jpg" width="1200" height="600" /></p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Date: 11-12 November</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Place: London</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Fintech Talents Festival covers innovation in financial technology, including discussions on digital banking, payment technologies, regulatory challenges, and the impact of emerging technologies like blockchain and AI on the fintech industry.</p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">2024 is rich with leading fintech events around the world. For experts who desire to be abreast of the latest developments in the fintech area, these knowledge databases offer a new level of detail as regards new technologies, strategic plans, and networking. Agilie, as a fintech industry&nbsp;<a href="https://agilie.com/expertise" target="_blank" rel="noopener">software development expert</a>, has prepared a list of the most significant events in this sector that will provide companies with information on trends and news to innovate each enterprise.</p>
<p style="text-align: justify;"><br /><br /></p>

<p><span style="white-space: pre-wrap; font-family: Arial, sans-serif; font-size: 14.666667px;">Explore the top fintech events 2024 to learn the latest trends and upgrade businesses with Agilie.</span></p>

Explore the top fintech events 2024 to learn the latest trends and upgrade businesses with Agilie.

Top Global FinTech Events in 2024 | Agilie

<p dir="ltr" style="text-align: justify;">Welcome to the forefront of the digital revolution, where accessibility is no longer just a requirement but a pathway to inclusivity. In this era of dynamic transformation, the European Accessibility Act 2025 takes a central place. It encourages digital businesses to meet the needs of all consumers. Ensuring EAA compliance is a strategic step that can improve or redefine the brand's relationship with a significant part of the European market and beyond. We will show how to turn compliance into a competitive advantage.</p>
<div id="form-description" class="form-description" style="text-align: justify;" data-title="Key Takeaways" data-text="The EAA  applies to all businesses that provide digital products and services.
Compliance with the Act's requirements allows businesses to enter new markets, attract a new segment of users, and provide a competitive advantage.
Giving priority to accessibility builds customer trust and loyalty and strengthens brand confidence.
Compliance with the Act's requirements protects businesses from legal consequences by reducing the risk of lawsuits and fines and facilitates international transactions using a standardized approach. 
An important issue for every company is finding a reliable development partner to help its digital products and services meet the Act's requirements.">
<div class="form-description-title">Key Takeaways</div>
- The EAA applies to all businesses that provide digital products and services.&nbsp;<br />- Compliance with the Act's requirements allows businesses to enter new markets, attract a new segment of users, and provide a competitive advantage.&nbsp;<br />- Giving priority to accessibility builds customer trust and loyalty and strengthens brand confidence.&nbsp;<br />- Compliance with the Act's requirements protects businesses from legal consequences by reducing the risk of lawsuits and fines and facilitates international transactions using a standardized approach.&nbsp;<br />- An important issue for every company is finding a reliable development partner to help its digital products and services meet the Act's requirements.</div>
<h2 dir="ltr" style="text-align: justify;">What Is the European Accessibility Act 2025?</h2>
<p dir="ltr" style="text-align: justify;"><a href="https://ec.europa.eu/social/main.jsp?catId=1202" target="_blank" rel="noopener">The European Accessibility Act (EAA) 2025</a>&nbsp;is an EU law that requires that some everyday goods and services be accessible to people with disabilities. It aligns with the EU's commitments following the ratification of the&nbsp;<a href="https://www.un.org/disabilities/documents/convention/convoptprot-e.pdf" target="_blank" rel="noopener">United Nations Convention on the Rights of Persons with Disabilities</a>.</p>
<p dir="ltr" style="text-align: justify;">The European Accessibility Act will make life easier for&nbsp;101 million&nbsp;Europeans.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1707834367177.png" width="1200" height="600" /></p>
<p dir="ltr" style="text-align: justify;"><strong>Imagine this:</strong>&nbsp;people with visual impairments or musculoskeletal problems can use mobile apps, websites, or ATMs without issues.</p>
<p dir="ltr" style="text-align: justify;">The EAA&nbsp; aims to standardize accessibility requirements across European countries, promoting a consistent and inclusive online environment. This act applies to both public and private organizations within the European Union. It goes beyond the surface level, delving into the very architecture of digital products. They must be intuitive, reliable, and customized for users of all abilities. Let's find out what products and services are affected by this law.</p>
<h3 dir="ltr" style="text-align: justify;">The products and services affected by the EAA</h3>
<p dir="ltr" style="text-align: justify;">The scope of the European Accessibility Act covers a wide range of digital products and services to ensure inclusivity for people with disabilities. Here is a&nbsp;<a href="https://ec.europa.eu/social/main.jsp?catId=1202" target="_blank" rel="noopener">list</a>&nbsp;of products and services covered by the EAA:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Websites;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Mobile applications;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Online banking and financial services;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">E-commerce platforms (e.g., online stores and their applications);</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">E-government services;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Communication services (e.g., instant messaging, push notifications, email, and video conferencing platforms);</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Online educational platforms and resources;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Standard content on broadcasters' websites;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Transportation services with websites and applications;&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Interfaces of ATMs and ticket machines;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">The purchases of information and communication technology (ICT) products and services by public sector organizations.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The EAA touches on various aspects of the digital world to create a more inclusive and accessible environment for people with disabilities. So, what are the critical requirements for businesses to meet?</p>
<h3 dir="ltr" style="text-align: justify;">Key provisions and requirements</h3>
<p dir="ltr" style="text-align: justify;">It is essential to understand the main provisions and requirements of the EAA, which provide the basis for a more inclusive digital future.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1707834889898.png" width="1200" height="600" /></p>
<h4 dir="ltr" style="text-align: justify;">1. Acceptability</h4>
<p dir="ltr" style="text-align: justify;">Information and user interface components must be perceived and understood. This means alternative text for images, adapted text size, and voice commands for visually impaired people. It also applies to people with mobility disabilities. For people with hearing problems, it means textual accompaniment.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;">2. Efficiency</h4>
<p dir="ltr" style="text-align: justify;">The accessibility of the keyboard ensures that users can easily interact with and navigate digital content.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;">3. Clarity</h4>
<p dir="ltr" style="text-align: justify;">User interfaces should be clear and consistent and avoid any unnecessary complexity. Intuitive design ensures that users can understand and navigate digital platforms without obstacles.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;">4. Reliability</h4>
<p dir="ltr" style="text-align: justify;">The EAA requires that digital products will remain accessible and interoperable with the development of technology.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;">5. Harmonization in the European Union</h4>
<p dir="ltr" style="text-align: justify;">One of the innovative aspects of the EAA 2025 is the commitment to harmonize accessibility standards across the European Union. This simplifies compliance for businesses operating in multiple countries. It also promotes an inclusive user experience for people with disabilities, regardless of their location within the EU.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;">6. Applicable to both the public and private sectors</h4>
<p dir="ltr" style="text-align: justify;">The EAA obliges every business to be accessible and participate in developing the digital ecosystem.</p>
<p dir="ltr" style="text-align: justify;">Agilie's team knows how to meet the requirements of this Act and is delighted to share this information.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Fintech example.</strong>&nbsp;According to the EAA, neobanking services have to provide, for example:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">navigation with voice commands;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">alternative text for graphs, charts, and financial data;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">interface with keyboard navigation and connectivity with assistance technologies;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">adaptability to evolving technologies and remain accessible over time;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">harmonization of accessibility standards across different financial platforms within the European Union.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Therefore, the app and website should provide such functions for successful growth.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/7-profitable-fintech-app-development-fields-for-starting-a-business" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px; float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1707838639713.png" width="100%" height="100%" /><span class="incut--text">Are you interested in profitable Fintech app development fields for starting a business? Let's discover them!</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Unlocking Opportunities: Why the European Accessibility Act Should Shape Business Vision</h2>
<p dir="ltr" style="text-align: justify;">The implementation of the European Accessibility Act goes far beyond essential compliance. What opportunities are there for businesses?&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Market expansion and inclusivity</h3>
<p dir="ltr" style="text-align: justify;">Businesses gain access to a market segment often overlooked by ensuring that digital products and services are accessible to people with disabilities. This inclusivity fosters a welcoming attitude and significantly expands a customer list.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Competitive advantage&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Demonstrating a commitment to inclusivity is about more than just social responsibility. It's a strategic move that differentiates companies from competitors.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Brand credibility and corporate image building&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">Customers value brands that prioritize accessibility. This approach builds trust and loyalty, creating long-term relationships with the customers. People appreciate businesses that go beyond just profit reasons. This is an opportunity to become a favorite brand!&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Legal compliance and risk management&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">EAA compliance protects businesses from legal consequences. It reduces the risk of potential lawsuits and fines, providing a solid foundation for long-term operations.</p>
<h3 dir="ltr" style="text-align: justify;">Innovation and focus on the future</h3>
<p dir="ltr" style="text-align: justify;">Complying with accessibility standards, companies essentially protect their digital position. They will remain relevant and usable as technology evolves.</p>
<h3 dir="ltr" style="text-align: justify;">International operations and standardization</h3>
<p dir="ltr" style="text-align: justify;">Harmonizing accessibility standards across the European Union makes it easier for businesses to operate in multiple member states. It promotes a standardized approach, streamlining compliance efforts. Therefore, doing business in several EU countries or planning to expand this is an excellent opportunity.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">So, every company that offers any digital product or service should include this significant government requirement in its business development strategy.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Picture this:</strong>&nbsp;a digital landscape where products and services are up-to-date and accessible to everyone, regardless of their abilities. Sounds great, right? It may seem challenging to implement. But don't worry! We know the solution - find a reliable partner who can efficiently and effectively make it happen.</p>
<p dir="ltr" style="text-align: justify;">Are you searching for a trustful partner who can provide the necessary developer services to prepare all your products for these governmental requirements?</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1707838750458.png" width="100%" height="100%" /><span class="incut--text">We are ready to help you! Get to know us.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Partnering for Success: Agilie's Expertise in Aligning Development with Regulatory Needs</h2>
<p dir="ltr" style="text-align: justify;">Agilie delivers exceptional software development services and provides unique solutions to meet all potential needs while companies meet the requirements of the EAA. Agilie is a trusted partner in unlocking the full potential of this Act. We specialize in creating solutions that match accessibility standards, transform the user experience, and become&nbsp;<a href="https://agilie.com/success-stories" target="_blank" rel="noopener">success stories</a>. From seamless navigation for everyone to immersive interfaces that break through barriers, we don't just meet expectations; we exceed them. It's more than accessible design. It's elegance, innovation, and lasting impact.</p>
<p dir="ltr" style="text-align: justify;">We understand that every business that provides digital products and services must comply with the requirements of the Act. Fulfill them quickly and effortlessly with the Agilie team.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Here is a brief overview of the process:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Consultations and documentation review.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Prototyping.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Development of a Software Requirements Specification (SRS) to define the project's purpose and scope.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">UI/UX design.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Planning phase: searching, creating a detailed outline, managing time, budget, human resources, and potential risks.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Architecture creation.&nbsp;&nbsp;</p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Contact Agilie today and let us begin a journey where your business not only complies with the standards but sets them. Leave your contact details in our form, and a business development manager will contact you.&nbsp;</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1707838871079.png" width="100%" height="100%" /><span class="incut--text">Your vision, our experience - let&rsquo;s create the future together! Contact us.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Final Thoughts&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">Finalizing our research on the European Accessibility Act 2025, we concede that accessibility is not just a requirement but a transformative path to inclusivity. The products and services affected by the EAA cover a wide range of digital offers, from websites and mobile apps to e-commerce platforms, online banking, and more. In this dynamic era of digital evolution, the EAA:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">takes center stage, inviting businesses to meet the diverse needs of all consumers;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">provides an opportunity to redefine brand identity and enter new markets;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">is a strategic step that can change the brand's relationship with a large part of the European market and beyond.&nbsp;</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Market expansion, competitive advantage, increased brand trust, regulatory enforcement, and a focus on future innovation are the paths to growth and sustainability.</p>
<p dir="ltr" style="text-align: justify;">In this landscape of possibilities, Agilie is your partner, your guide to the challenges of EAA compliance. Our services go beyond mere software development; we specialize in delivering exceptional compliance solutions. Step into the future with Agilie.</p>
<p style="text-align: justify;">&nbsp;</p>

<p><span style="color: #0d0d0d; font-family: S&ouml;hne, ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Ubuntu, Cantarell, 'Noto Sans', sans-serif, 'Helvetica Neue', Arial, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; white-space-collapse: preserve; background-color: #ffffff;">Explore the growth of opportunities for businesses with the implementation of the European Accessibility Act 2025.</span></p>

Explore the growth of opportunities for businesses with the implementation of the European Accessibility Act 2025.

Navigating the Invention of the European Accessibility Act 2025 | Agilie

<p dir="ltr" style="text-align: justify;">Explore what the discovery phase of a project means, its importance, and tools for implementation.&nbsp;</p>

Explore what the discovery phase of a project means, its importance, and tools for implementation.

Project Discovery Phase: Updated 2024 Guide + [Checklist] | Agilie

<p style="text-align: justify;"><span id="docs-internal-guid-76ba37c4-7fff-9330-4019-e803d0a42d73">Analyze the essence of Agile methodology, its implementation, pitfalls, roles, advantages, and disadvantages.</span></p>

Analyze the essence of Agile methodology, its implementation, pitfalls, roles, advantages, and disadvantages.

Agile Software Development: Hype or Working Practice? | Agilie

<p>In our digital era, companies need technologies on board, no matter their size or industry. That is why, oftentimes, they are one of the main business investments and thus they must be taken care of properly. That is when IT (information technology) support comes into play.</p>

 Read the article to know what IT support is, why you need IT support, how it functions, and what IT support consists of.

What Is IT Support? Types and Tools | Agilie

<p dir="ltr">If you own an IT business, you probably know how difficult it is and how long it takes to recruit in-house IT specialists. Especially those with a Middle or Senior level of expertise or some with very rare tech skills. This could become a real nightmare if your project needs experts just right now.</p>
<p dir="ltr">What to do in such a case?&nbsp;</p>
<p dir="ltr">The smartest move you can take is to opt for a staff augmentation model that helps expand your team for a specific project extremely fast. Still don&rsquo;t know what this helpful model is? In this article, we will explain to you what staff augmentation really is, when it is best to use it, as well as give you all the cons of this model.&nbsp;</p>
<p dir="ltr">But let&rsquo;s start with some basics.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Staff augmentation is a flexible and cost-effective solution for companies that need to scale their workforce quickly. By extending their existing team with external talent, companies can access a wide range of skills and expertise without committing to the long-term costs associated with hiring full-time. 
There are different models of staff augmentation, including time and material, fixed-price, and dedicated team models. These models offer varying degrees of flexibility and control, allowing companies to choose the model that best suits their needs.
Staff augmentation enables companies to access the skills and expertise they need to complete projects more quickly, ultimately leading to improved business outcomes and success.
Among the most popular cases of team augmentation use are when a company needs to meet a tight deadline, requires specialized skills, or wants to maintain its core team's stability. By leveraging staff augmentation, companies can quickly access the talent they need to meet their business objectives, without the long-term commitment of hiring full-time employees.
By adopting a staff augmentation model, companies can access a pool of skilled talent, reduce costs, and remain agile and responsive to changing market conditions, ultimately leading to improved business outcomes and success.">
<div class="form-description-title">Key Takeaways</div>
Staff augmentation is a flexible and cost-effective solution for companies that need to scale their workforce quickly. By extending their existing team with external talent, companies can access a wide range of skills and expertise without committing to the long-term costs associated with hiring full-time. <br /><br />There are different models of staff augmentation, including time and material, fixed-price, and dedicated team models. These models offer varying degrees of flexibility and control, allowing companies to choose the model that best suits their needs. <br /><br />Staff augmentation enables companies to access the skills and expertise they need to complete projects more quickly, ultimately leading to improved business outcomes and success. <br /><br />Among the most popular cases of team augmentation use are when a company needs to meet a tight deadline, requires specialized skills, or wants to maintain its core team's stability. By leveraging staff augmentation, companies can quickly access the talent they need to meet their business objectives, without the long-term commitment of hiring full-time employees. <br /><br />By adopting a staff augmentation model, companies can access a pool of skilled talent, reduce costs, and remain agile and responsive to changing market conditions, ultimately leading to improved business outcomes and success.</div>
<h2 dir="ltr">What is Staff Augmentation?</h2>
<p dir="ltr">When you first hear about IT staff augmentation services, many people would immediately think of an augmented human from a modern cyberpunk movie. Are you one of them? That is understandable.&nbsp;</p>
<p dir="ltr">In reality, IT staff augmentation is not about it at all. The word augment itself means to make something larger &mdash; in size, number, strength, etc. Augmented in the IT sphere means a bigger team. But having bigger teams doesn&rsquo;t mean becoming more effective. It can sometimes be quite the opposite, as bigger teams are quite difficult to manage. Staff augmentation can help you enlarge your team while ensuring that this staffing remains efficient.&nbsp;&nbsp;</p>
<p dir="ltr">To put it simply, staff augmentation is an outsourcing hiring strategy where a business temporarily hires one or several outsourcing IT experts for a certain project.&nbsp;</p>
<p dir="ltr"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676407005789.png" width="2001" height="1401" /></p>
<p dir="ltr">Wait, so is it that simple? And you won&rsquo;t need to pay for time-consuming recruiting or consulting services?&nbsp;</p>
<p dir="ltr">Yep, you can find numerous staff augmentation providers that will do the job instead of you and hire excellent temporary engineers for your project very fast. Besides, skilled talent is hired to cover only the necessary positions temporarily, permanently, or on-demand. The hires are added to the in-house team and collaborate with them on a specific project which enhances the capacity of your team and organization.&nbsp;</p>
<h3 dir="ltr">Why is staff augmentation so popular?&nbsp;</h3>
<p dir="ltr">Staff augmentation has become a widely used practice worldwide with <a href="https://www2.staffingindustry.com/site/Research/Research-Reports/Americas/Global-Staffing-Forecast-May-2019" target="_blank" rel="noopener">$490 billion</a> of revenue annually. One of the main sources for staff augmentation is freelancing, which has become very popular recently due to the rise of numerous freelance platforms. Just imagine, in the US solely, about <a href="https://www2.staffingindustry.com/site/Research/Research-Reports/Americas/The-US-Gig-Economy-2019-Edition" target="_blank" rel="noopener">34% of workers</a> are freelancers, and this number grows each year.&nbsp;&nbsp;</p>
<p dir="ltr">But why has staff augmentation become so popular?&nbsp;</p>
<p dir="ltr">It is obvious. Many companies today choose IT staff augmentation for a bunch of situations, including talent shortage, high cost of IT professionals, and many more. This model helps businesses minimize operational costs while skyrocketing their efficiency. It also helps quickly scale your IT department once you need it and add more employees to keep up with the demand.&nbsp;</p>
<p dir="ltr">Staff augmentation can, undoubtedly, help you enhance both the quality and speed of your projects, because by hiring professionals in various fields, you get the expertise that your in-house developers may lack. This could be extremely helpful if you have complex IT projects and you need a senior level of expertise.</p>
<p dir="ltr">Last but not least, staff augmentation service can present your workers with excellent training opportunities. Your in-house staff can share the experience with your in-house team, allowing them to learn and grow throughout the whole development process.</p>
<h3 dir="ltr">Types of staff augmentation</h3>
<p dir="ltr">Today, IT staff augmentation can be divided into three main types, each with its own peculiarities:</p>
<p dir="ltr"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676407019595.png" width="2001" height="1001" /></p>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Core augmentation</p>
</li>
</ul>
<p dir="ltr">This type of augmentation is long-term with a full-time contract. All the resources of the business are shared with another company and the core team works full-time at the hired company while paralelly working in their own company. The roles and responsibilities of the core team are stated in the contract.</p>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Temporary augmentation</p>
</li>
</ul>
<p dir="ltr">This type of augmentation is short-term with temporary staff for a specific project. Usually, companies prefer the temporary augmentation model if they lack the resources for covering all their projects. Temporary augs can increase the number of people to handle multiple projects.</p>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Functional augmentation&nbsp;</p>
</li>
</ul>
<p dir="ltr">This type of augmentation involves contracted employees working temporarily on a specific project. The main difference between core and functional augmentation is that the latter doesn&rsquo;t have an indefinite duration.&nbsp;&nbsp;</p>
<h3 dir="ltr">Use cases of staff augmentation</h3>
<p dir="ltr"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676407086168.png" width="2001" height="1201" /></p>
<p dir="ltr">Before applying this cooperation strategy, it is crucial to know its best use cases. Here are some of the most common uses when you should consider opting for staff augmentation:</p>
<ul>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Reinforcing your in-house team: yes, you may already have a developer team that works in-house. However, when you launch new projects or release new products or services, it is better to improve your expertise by augmenting your existing IT team with temporary personnel. This way, you will get a better outcome.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">When you have short deadlines: the process of recruiting new employees is a complex process with lots of stages. But if you don&rsquo;t have time and patience for it, you can take advantage of staff augmentation. You can get programmers from any part of the world very fast and meet the needs of your project, no matter if it is short- or long-term.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">If you need specific expertise: if you need to get a specialist with a certain skill set over a short period of time, this cooperation method will help you out.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">If you need to bridge a gap: you can always hire temporary workers for short-term projects while looking for permanent candidates.</p>
</li>
</ul>
<h2 dir="ltr">The Difference between Staff Augmentation and Delivery Teams</h2>
<p dir="ltr">When learning about staff augmentation, you may also come across the term delivery teams. These two terms can even be misused sometimes.&nbsp;</p>
<p dir="ltr">But what is the difference? And is there any?&nbsp;</p>
<p dir="ltr">As we already found out, staff augmentation is the process of hiring one or more temporary tech specialists. So, when you have more demanding projects that need constant support through all their stages of development, staff augmentation might not be a good fit for you.&nbsp;</p>
<p dir="ltr">In this case, you need a delivery team that usually consists of a skilled project manager, several software developers, and quality assurance specialists. Such teams work on projects autonomously and need little or no supervision from your side.&nbsp;&nbsp;</p>
<h2 dir="ltr">Benefits of IT Staff Augmentation</h2>
<p dir="ltr">Just like with any other cooperation strategy, staff augmentation comes with a bunch of pros and cons. Here is the list of some of the benefits you can get when opting for this model:</p>
<p dir="ltr"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676407045860.png" width="2001" height="1101" /></p>
<h3 dir="ltr">1. Reduction of the time for recruiting</h3>
<p dir="ltr">Organizing a well-functioning recruiting process takes time and energy. You need to create job descriptions, place them on the job portals, interview candidates, and do many other necessary steps. And even all of them do not guarantee fast and successful hiring.&nbsp;</p>
<p dir="ltr">But what if we say that staff augmentation will eliminate all these stages, especially if you get help from a staff augmentation company? It will do everything instead of you and staff your business very fast with new full members of your team.&nbsp;</p>
<p dir="ltr">Besides, having temporary workers will help you fight another issue called overstaffing. When you have already delivered the project, you may not need the same number of workers anymore. And with staff augmentation, you won&rsquo;t face the problem of firing gifted tech talent.&nbsp;</p>
<h3 dir="ltr">2. Access to a talented pool of experts</h3>
<p dir="ltr">When you need a candidate with a certain technical skill set, the staff augmentation company will offer you good fits without wasting your time. Besides, you can select experts from any part of the world to meet your business goals if you do not have matches in your region.&nbsp;</p>
<p dir="ltr">With staff augmentation, you can use both internal and external resources while saving your time on onboarding and training of the new employees.&nbsp;</p>
<h3 dir="ltr">3. Enhanced flexibility and scalability</h3>
<p dir="ltr">This model is extremely flexible and scalable. With IT staff augmentation, you can easily both upscale or downscale your development team, which is more comfortable than hiring full-time employees. What is more, when the project ends, you can end the partnership with temporary staff or revive it in the future if you need help again. This won&rsquo;t ruin your brand image like firing your employees.&nbsp;</p>
<h3 dir="ltr">4. Quality on a budget</h3>
<p dir="ltr">If your business has a limited budget and payroll, staff augmentation is just for you. You don&rsquo;t need to pay any extra costs as you do with full-time staff. However, you can always add some bonuses to improve their happiness and performance.&nbsp;</p>
<p dir="ltr">Moreover, small businesses benefit a lot from temporary placement on a short-term basis with no long-term commitment as you do not need to pay taxes or insurance.&nbsp;</p>
<p dir="ltr">But does this mean that the quality is lower, too? Of course, not. Staff augs deliver the same quality and quantity of work just like your full-time employees.&nbsp;</p>
<h2 dir="ltr">How to Succeed with Team Augmentation</h2>
<p dir="ltr">If done the right way, staff augmentation can significantly improve your bottom line and enhance productivity. Here is a step-by-step guide on how to successfully implement this strategy in your business:&nbsp;</p>
<p dir="ltr"><img style="display: block; margin-left: auto; margin-right: auto;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1676407061994.png" width="2001" height="1701" /></p>
<h3 dir="ltr">Identify which skill or expertise your company needs</h3>
<p dir="ltr">The first step of staff augmentation adoption is identifying which tech expertise you currently need by conducting a detailed analysis of your business operation. You can also assess your projects requirements and your personnel audit outcome and find out which gap you have and whether the acquisition of the temporary employees will help you out.</p>
<h3 dir="ltr">Search for staff augmentation provider</h3>
<p dir="ltr">When you are looking for a staff augmentation vendor, you should always keep in mind your requirements as different staff augmentation companies have different approaches to recruiting. Conduct the research, assess their credentials and offers, and track records. Make sure to find someone who aligns with both your corporate and operational cultures.&nbsp;</p>
<h3 dir="ltr">Compare and choose one</h3>
<p dir="ltr">You don&rsquo;t need to choose only one staff augmentation provider as each of them has unique offers to consider. Try to multisource, select several of the most suitable vendors, compare them, and select the one that is the best fit for long-term cooperation.</p>
<h3 dir="ltr">Foster a healthy relationship between in-house and remote teams</h3>
<p dir="ltr">No matter if you work with in-house or remote teams, you need to force a healthy environment in which everyone is happy to work. How? You need to communicate with everyone and ensure that each of the teams is in sync. For example, when you are holding a meeting, ask about your team&rsquo;s interests or hobbies to figure out what they have in common. This will also help in building a healthy relationship in the team.&nbsp;</p>
<h3 dir="ltr">Make sure the communication is clear</h3>
<p dir="ltr">Did you know that your bottom line can be improved with the help of clear communication? How so? It is obvious. Your entire team needs to understand your business vision and mission as well as all project requirements. It is also very important to ensure clear communication so that everyone who takes part in the development and administration process can contribute to it and buy into decisions.</p>
<h3 dir="ltr">Master useful technologies</h3>
<p dir="ltr">Always master technologies and tools that might be helpful for you. Such team collaboration tools like CRM system, Slack, JIRA, task management system, or Basecamp help to share comments from team members as well as project statuses. Be careful as the lack of communication may result in miscommunication. And this can affect your entire project negatively. Many modern tools can do the contrary; they enhance the communication and collaboration within your team.&nbsp;</p>
<p dir="ltr">Conclusion&nbsp;&nbsp;</p>
<p dir="ltr">Undoubtedly, a staff augmentation strategy allows you to focus on your core business objectives and stay competitive in this fast-paced world. By adopting this cooperation solution, you get several benefits, like decreasing time and cost for recruiting and employment, improved efficiency of your team, and extreme flexibility and scalability.&nbsp;</p>
<p dir="ltr" style="line-height: 1.9871999999999999; margin-top: 0pt; margin-bottom: 10pt;">If you often need employees for short-term projects, then IT staff augmentation is surely a must for your firm. And the abundance of staff augmentation providers on the market will ensure that you hire only skilled developers whenever you need them and won&rsquo;t spend too much time and money on recruiting. <span id="docs-internal-guid-38677343-7fff-dfcf-7319-998567c0d35d"></span></p>

<p>Explore what is staff augmentation, its types, and how it differs from the delivery team.</p>

Explore what is staff augmentation, its types, and how it differs from the delivery team.

What is Staff Augmentation and How it Works | Agilie

<p style="text-align: justify;">Learn about the essence of the dedicated team outsourcing model, its benefits, and cases when it works and doesn't.</p>

Learn about the essence of the dedicated team outsourcing model, its benefits, and cases when it works and doesn't.

Dedicated Team Model: What It Is, Pros & Cons for Your Project | Agilie

<p dir="ltr" style="text-align: justify;">The rise of crypto wallets represents&ensp;a significant innovation in fintech. Those wallets can be very useful for businesses because, with them, many people can have access to funds depending on roles and permissions.</p>
<p dir="ltr" style="text-align: justify;">Depending on the type, cryptocurrency wallets also help in managing digital assets and allow businesses or individuals to control funds without banking, as they retain the full autonomy of&ensp;funds, or even trade assets without manual transfers. In this article, we are going to see what is the difference between a custodial and non-custodial wallet.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="The custodial wallet requires identity verification, breaching the user&rsquo;s anonymity, while the non-custodial wallet is pseudonymous. 
Since non-custodial wallets operate independently of centralized exchanges (CEXs), transaction speed depends on blockchain network conditions, leading to delays in crypto operations. 
Although the custodial wallet relies on the Know Your Customer policy, the risks of cyber security attacks arise because of the required identity verification.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">The custodial wallet requires identity verification, breaching the user&rsquo;s anonymity, while the non-custodial wallet is pseudonymous.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Since non-custodial wallets operate independently of centralized exchanges (CEXs), transaction speed depends on blockchain network conditions, leading to delays in crypto operations.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Although the custodial wallet relies on the Know Your Customer policy, the risks of cyber security attacks arise because of the required identity verification.</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;"><strong>Foreword: The Essence of Private Keys</strong></h2>
<p dir="ltr" style="text-align: justify;">Hold on! Why is it important to discuss the private key and how it comes with the custodial and non-custodial wallets? Let&rsquo;s define this cryptographic element and analyze its functions and importance for crypto wallets.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The crypto wallet generates a private key, which represents an alphanumeric code consisting of a large string of letters and numbers. The primary functions of a private key include enabling the users to authorize transactions and prove ownership of their assets.</p>
<p dir="ltr" style="text-align: justify;">This alphanumeric cipher matters to any crypto wallet type as it generates a digital signature. A private key is used to sign the transaction, which is transmitted to the blockchain, but prior to being added to the block, it requires verification. The computers operating the blockchain check the user&rsquo;s public key to verify the digital signature, and if it is correct the transaction is approved and recorded permanently on the blockchain.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The private and public keys are paired, which ensures the transaction&rsquo;s security due to the resistance to tampering and the impossibility of making any changes on the block. Hence, private keys are central elements of a crypto wallet, so let&rsquo;s discuss their essence in custodial and non-custodial wallets.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>What Is a Custodial Wallet?</strong></h2>
<p dir="ltr" style="text-align: justify;">The custodial wallet meaning can be defined as a wallet in which a third party, such as an exchange or bank, holds the private keys of the users. This means that the client is not in full control of their funds, as they rely on the custodian who secures and manages their transactions.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">There are the following features of the custodial wallets:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Simplified Usability</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The custodial wallets represent an opportunity for beginners to trade their crypto assets without managing private keys.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Options for Account Recovery</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">If users lose access to their accounts, they will be able to recover their funds as the custodian holds their private keys on the centralized server. The users will only have to verify their identity.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Support Opportunities</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">A central unity manages the client&rsquo;s wallet, providing them with support like undoing the transaction.</p>
<p dir="ltr" style="text-align: justify;">Some of the best custodial wallets to consider are: Coinbase, Gemini, BitMex, BitGo, Binance, and Bitfinex.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>What Is a Non-Custodial Wallet?</strong></h2>
<p dir="ltr" style="text-align: justify;">When analyzing the non-custodial vs custodial wallet, the first one provides clients with full ownership of their private keys and funds, respectively. This autonomy defines the non-custodial wallet meaning that no third party will handle the user&rsquo;s funds and operations. This excludes issues like account freezing and withdrawal restrictions. There are the following distinctive features of the non-custodial wallets:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>User&rsquo;s Full Ownership</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets function within the decentralized ecosystem, meaning that no centralized unity will manage the wallet.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Direct Blockchain Interaction</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">A non-custodial wallet does not require an intermediary; transactions occur directly on the blockchain.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Increased Privacy</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The users don&rsquo;t have to abide by the Know Your Customer policy and verify their identity in the non-custodial wallet. This crypto wallet type preserves pseudoanonimity.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/digital-wallets-types-ideas-and-future-of-such-products" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740483774764.png" width="100%" height="100%" /><span class="incut--text">Gain insights into the essence of e-wallets, their benefits, and examples.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Difference Between Custodial and Non-Custodial Wallet</strong></h2>
<p dir="ltr" style="text-align: justify;">Based on the aforementioned analysis of two crypto wallet types, their meaning, advantages, and disadvantages, it would be essential to provide a short summative recap, as well as additional details on the differences between the custodial wallet vs non-custodial wallet, focusing on the following metrics.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Security</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">The custodial wallet is less secure than its non-custodial counterpart, considering its vulnerability to cyberattacks. Hackers can attack the centralized servers and obtain access to multiple accounts.</p>
<p dir="ltr" style="text-align: justify;">Credential harvesting is a phishing type of cyberattack which aims to steal a user&rsquo;s login and password so that the attacker can access their account. The attackers send the falsified site links, almost identical to the real ones, via SMS or email, so by entering their credentials, the victim provides them with access to their funds.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets depend on the private keys owned by the users, which decreases the risks of theft. Nevertheless, attackers can obtain the key due to malware attacks, which can infect the computer or smartphone as in the case of clipboard hijacking malware attack.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The malware functions, so to say, silently in the device, monitoring the clipboard. When the user copies the wallet address, the malware substitutes it with the attacker&rsquo;s one, so the victim sends them their funds unintentionally.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Ownership of Private Keys</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">In the custodial wallet, it&rsquo;s the custodian&rsquo;s responsibility to hold the user&rsquo;s private keys, which limits the latter&rsquo;s control over their funds. This is one of the most significant disadvantages of the custodial wallets for the following reasons:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Lack of Client&rsquo;s Full Ownership Over Their Finances.</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The client has access to accounts but relies heavily on the custodian&rsquo;s controls over the transaction&rsquo;s approval.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Withdrawal and Transaction Restrictions</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The custodian can delay or block the transaction based on governmental policies, which can limit the fund movement.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">In the non-custodial wallet, the user holds the private keys by themselves, which is simultaneously convenient and requires a decent level of responsibility not to lose them.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>No KYC Compliance</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The non-custodial wallet does not rely on the KYC policy, so the user doesn&rsquo;t have to verify their identity to proceed with the transactions, showing their full ownership over their funds.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Ease of Use&nbsp;</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">Custodial wallets are easier to use as the client does not have to know the precise details of the exchange work. If the user wants to undo the operation, customer support can help with that.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">Non-custodial wallets require decent knowledge about the work of blockchain and smart contracts, as minor mistakes can lead to the loss of funds with no refund option, representing one of the core challenges of this wallet type.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/top-7-crypto-wallet-apps" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740483930529.png" width="100%" height="100%" /><span class="incut--text">Check out 7 potential crypto wallets you might use.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Choosing the Right&nbsp;Wallet&nbsp;for Your Business Needs</strong></h2>
<p dir="ltr" style="text-align: justify;">You might be interested in how to choose the right wallet type per business needs. It's time to discuss the most suitable cases to use custodial and non-custodial cryptocurrency wallets.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Custodial Wallets</strong></h3>
<p dir="ltr" style="text-align: justify;">The custodial wallets are a valuable option for businesses that need an insured and regulated service. For instance, Greyscale, a leading crypto asset manager, utilizes Coinbase Custody, which improves its scalability and contributes to success due to alignment with NYC banking laws as the wallet is regulated by NYDFS, one of the most prominent financial regulators in the world.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallets</strong></h3>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets are best suited for businesses that manage crypto without third-party integration, and those companies with DeFi projects and NFT platforms. For instance, Open Sea, a web3 marketplace for NFTs, applies Meta Mask, which improves its scalability and success by integrating Layer 2 support like Polygon network for lower fees and faster transactions.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Who We Are</strong></h2>
<p dir="ltr" style="text-align: justify;">Agilie is a European IT outsourcing organization that crafts custom digital products for businesses and startups in fintech, real estate, healthcare, and marketing domains. By providing our clients with three outsourcing models, like the dedicated team, staff augmentation, and project-based outsourcing, Agilie elaborates on tech-savvy software relevant to&nbsp;<a href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener">fintech</a>,&nbsp;<a href="https://agilie.com/expertise/fintech/payment-solutions" target="_blank" rel="noopener">payment solutions</a>, and&nbsp;<a href="https://agilie.com/expertise/fintech/mobile-banking" target="_blank" rel="noopener">mobile banking</a>.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">When it comes to the&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain software development services</a>, Agilie can help you craft:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Cryptocurrency</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Crypto Wallets</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Blockchain</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Smart Contracts</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">NFT</p>
</li>
</ul>
<h2 dir="ltr" style="text-align: justify;"><strong>Conclusion</strong></h2>
<p dir="ltr" style="text-align: justify;">The article analyzed the features, advantages, disadvantages, and differences of custodial vs non-custodial crypto wallet types. Both introduce unique approaches to handling finances, such as the client&rsquo;s full ownership of the private keys versus the custodian&rsquo;s. Nevertheless, when choosing a wallet type, you have to take into account the elements of security, anonymity, and tech knowledge to make your trade or transactions secure and minimize risks.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740484028707.png" width="100%" height="100%" /><span class="incut--text">Are you eager to craft a personalized crypto wallet? Then contact us to get a consultation!</span></a></p>

<p>Explore the differences between a custodial wallet vs non-custodial wallet, their features, and use cases.</p>

Explore the differences between a custodial wallet vs non-custodial wallet, their features, and use cases.

Custodial vs Non-custodial Wallet: Explained & Compared | Agilie

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-ffc04ced-7fff-1c27-71a8-06f1b85a7b1f">Blockchain has become a paradigm shift that changes the operations of different industries. Nevertheless, like any other disruptive technology, a lot of myths and misconceptions have appeared. We should differentiate between fact and fiction to use blockchain technology effectively and responsibly. We can better understand what blockchain is (and isn&rsquo;t), how it functions, and the varied applications it holds besides cryptocurrencies by clarifying these misconceptions.</span></p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Blockchain is not just about Bitcoin; it is the technology that can transform different fields. 

Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.

Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Blockchain is not just about Bitcoin; it is the technology that can transform different fields.&nbsp;</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.</p>
</li>
</ul>
</div>
<h2 dir="ltr" role="presentation">&nbsp;Myth 1: Blockchain and Bitcoin Are the Same</h2>
<p dir="ltr">Among the most common myths about blockchain technology is the confusion between the blockchain and Bitcoin. Blockchain and Bitcoin were created simultaneously, so they are widely believed to be the same thing. However, we must understand that blockchain is a much broader term. It is the technology that created Bitcoin. While Bitcoin is indeed the first and most famous application of this technology, equating the two is like saying that Google is the Internet.</p>
<p dir="ltr">Blockchain is a decentralized digital ledger technology (DLT) that records transactions across multiple computers so that the records cannot be altered retroactively, without the alteration of all subsequent blocks and the consensus of the network.</p>
<p dir="ltr">This makes blockchain a naturally secure and transparent method of data and transaction recording.&nbsp;</p>
<p dir="ltr">Bitcoin is a type of digital currency based on blockchain technology and used for secure, anonymous, and decentralized financial transactions. The blockchain of Bitcoin acts as a public ledger for all the transactions in the Bitcoin network, thus, it is possible to transfer digital currency securely without the use of intermediaries like banks or governments.&nbsp;</p>
<p dir="ltr">Blockchain technology can be much broader than purely financial transactions. It can be used in different industries with various aims. <span style="text-align: justify;">Nowadays, many businesses are studying how <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise blockchain development</a> can </span>improve their operations.</p>
<p><span id="docs-internal-guid-472b7e6f-7fff-cc7f-585e-96d452017ac3"></span></p>
<p dir="ltr">Here are a few examples:</p>
<p dir="ltr"><strong>Healthcare:</strong> Blockchain can guarantee the safety of medical records storage and sharing. Thus, they are only available to authorized personnel and patients and lead to quicker diagnosis and treatment.​</p>
<p dir="ltr"><strong>Financial Services:</strong> Blockchain is a viable solution for international payments, real-time settlements, and improving transaction transparency and security.</p>
<p dir="ltr"><strong>Digital Identity:&nbsp;</strong> Blockchain can correct identity theft and fraud by adding digital identities that cannot be changed. For example, Estonia's e-Residency program is the first of its kind, a government-issued digital identity that allows entrepreneurs from anywhere in the world to operate and conduct business online in the EU.</p>
<p dir="ltr" style="text-align: justify;"><strong>Real Estate:</strong> Blockchain can simplify property transactions such as sales, leasing, and financing by reducing paperwork and improving transparency.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/the-evolution-of-blockchain-from-bitcoin-to-business-applications" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280829344.png" width="100%" height="100%" /><span class="incut--text">Learn more about the evolution of Blockchain from Bitcoin to business applications.</span></a></p>
<h2 dir="ltr">Myth 2: Blockchain Transactions Are Always Anonymous</h2>
<p dir="ltr">A frequent mistake people make about blockchain technology is that it is automatically anonymous to its users. However, the truth is more nuanced. Blockchain transactions are not strictly anonymous but pseudonymous.</p>
<p dir="ltr">Pseudonymity means that a user's identity is not directly tied to their blockchain transactions but rather to a digital pseudonym, typically a public key or a blockchain address. These addresses are like a sequence of letters and numbers, giving privacy but not total anonymity.</p>
<p dir="ltr">In contrast, anonymity would mean that the transactions are entirely disconnected from any identity, even a pseudonym, making them untraceable to the user. Blockchain does not usually provide this level of anonymity because the transaction history of each blockchain address is visible to anyone who accesses the blockchain.</p>
<p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">Most blockchains are open ledgers, meaning that all transactions are visible to anyone who wishes to view them. This level of transparency ensures that while users' identities are not directly exposed, their transaction histories and patterns can be analyzed.<span style="font-size: 11pt; font-family: Roboto, sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span id="docs-internal-guid-c8674fbb-7fff-173a-3f3d-9882e492f23a" style="text-align: start;"></span></p>
<p dir="ltr" role="presentation"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280901953.png" /></p>
<p dir="ltr">While basic blockchain transactions offer pseudonymity, several enhancements and tools can increase privacy:</p>
<p dir="ltr"><strong>1. Mixing Services:</strong> Services like CoinJoin allow multiple users to combine their transactions into a single transaction with multiple inputs and outputs. This mixing blurs the traceability of any single coin, making it more difficult to link wallets with identities.</p>
<p dir="ltr"><strong>2. Privacy-Focused Cryptocurrencies:</strong> Some cryptocurrencies, like Monero and Zcash, are designed specifically to enhance privacy. Monero uses ring signatures and stealth addresses to hide the transactions&rsquo; origins, amounts, and destinations. Zcash allows users to shield transactions completely through its zk-SNARKs technology, which enables transactions to be verified without revealing the sender, receiver, or amount.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-f6cb6e39-7fff-8fd8-9fd0-26fe5c883950"><strong>3. Use of Multiple Addresses:</strong> Users can increase their privacy by using multiple wallets or addresses, dispersing their transactions across several points, which makes it more challenging to link them to a single identity.</span></p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/blockchain-tech-trends-how-to-stay-ahead-of-the-curve" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280997458.png" width="100%" height="100%" /><span class="incut--text">Explore key blockchain technology trends and stay ahead in its innovation with insights and practical examples.</span></a></p>
<h2 dir="ltr">Myth 3: Blockchains Are Unhackable</h2>
<p dir="ltr">The idea that blockchains are completely unhackable is a frequently held misconception that can cause a dangerous level of complacency in security measures. While blockchain technology does offer robust security features, it is not immune to vulnerabilities. Knowing the security features employed and the situations in which breaches happen is very important for anyone who wants to use blockchain for their business.</p>
<p dir="ltr">Blockchain technology secures data through several mechanisms:</p>
<p dir="ltr"><strong>Cryptography:</strong> Every transaction on a blockchain is secured using cryptographic algorithms, which ensure that data can neither be altered nor read without the appropriate cryptographic key.</p>
<p dir="ltr"><strong>Decentralization:</strong> By distributing copies of the ledger across a network, blockchain reduces the risk of a single point of failure that could compromise the entire system.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-b11010c4-7fff-1a1a-ce63-614d99637ccb"><strong>Consensus Protocols:</strong> Blockchains use various consensus mechanisms, like Proof of Work (PoW) or Proof of Stake (PoS), to agree on the validity of transactions. These protocols prevent a malicious actor from changing even a single aspect of the blockchain.</span></p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281102044.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<p dir="ltr">Despite these security measures, there are scenarios where blockchains can and have been compromised.</p>
<h3 dir="ltr">Scenarios Under Which Breaches Have Occurred</h3>
<p dir="ltr"><strong>51% Attacks:</strong> This type of attack happens when a single entity gains control of more than 50% of the network&rsquo;s mining hash rate or stake, allowing them to manipulate transactions and potentially double-spend coins.&nbsp;</p>
<p dir="ltr"><strong>Code Vulnerabilities:</strong> <a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">Smart contracts</a>, which are self-executing contracts with the terms directly written into code, can contain vulnerabilities. One of the most famous incidents is the DAO attack on the Ethereum network. Hackers exploited a vulnerability in the DAO (Decentralized Autonomous Organization) smart contract code to siphon off one-third of the DAO&rsquo;s funds.</p>
<p dir="ltr"><span id="docs-internal-guid-7785ebac-7fff-06ee-6f06-69621bbdcfd6"><strong>Phishing and Social Engineering:</strong> End-user security is often the weakest link in a blockchain system. Phishing attacks can allow attackers access to blockchain assets, bypassing network security measures, to steal private keys or wallet credentials.</span></p>
<p dir="ltr" role="presentation"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281254703.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr">The blockchain technology is often seen as highly popular and muddled at the same time.&nbsp; Falsified myths are only part of the misconceptions that can mislead such a fantastic technology. Similarly, proper professional knowledge and strategy can help blockchain perform to its potential in various fields.&nbsp;<span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"><a href="https://agilie.com/blog/your-own-cryptocurrency-from-scratch-everything-you-need-to-know-to-create-your-cryptocurrency" target="_blank" rel="noopener">Building your own cryptocurrency</a> can be a strategic move for businesses seeking to innovate and tap into new digital markets.</span></p>
<p dir="ltr">At <a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, we understand that dealing with a complex environment is also a significant challenge. This is why we create powerful blockchain systems and wish to educate our clients regarding the breadth of blockchain-utilizing services. Therefore, such solutions can be tailored to your industry's concrete necessities and problems.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281316627.png" width="100%" height="100%" /><span class="incut--text">Contact us to find out how our blockchain development services can help you achieve your goal.</span></a></p>

<p><span style="text-align: justify;">Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.</span></p>

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

Blockchain Myths Debunked: Separating Fact from Fiction | Agilie

<p style="text-align: justify;">Learn about the cost of building a banking app based on its features, dev process, UX/UI design, and wireframe.</p>

Learn about the cost of building a banking app based on its features, dev process, UX/UI design, and wireframe.

Banking App Development Cost | Agilie

<p style="text-align: justify;">Analyze the latest fintech software development trends. Clarify what impact the evolving digital technologies have on the industry.&nbsp;</p>

Analyze the latest fintech software development trends. Clarify what impact the evolving digital technologies have on the industry. 

Fintech Software Development Trends in 2025 | Agilie

<p style="text-align: justify;"><span style="text-align: justify;">Explore a step-by-step way of building a property management system from scratch, its features, and challenges.&nbsp;</span></p>

Explore a step-by-step way of building a property management system from scratch, its features, and challenges.

How to Create a Property Management System | Agilie

<p dir="ltr" style="text-align: justify;">Nowadays, blockchain reshapes the functionality of the fintech industry, invoking a significant interest in institutions that work with financial operations directly. We&rsquo;re talking about accounting, which starts integrating blockchain technology to its daily operations.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Accounting is a noticeable area for blockchain innovation due to the significant improvements it can present. Businesses experience growth of interest in secure financial operations. The elimination of a single-point failure and cryptographic encryption can reduce the dependency on the centralized intermediary and protect financial transactions by improving security and economizing protection costs simultaneously. The article analyzes what is blockchain used for in accounting and its benefits.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>How Blockchain Is Transforming Accounting</strong></h2>
<p dir="ltr" style="text-align: justify;">As a distributed and public ledger, blockchain benefits versatile fintech and business branches due to its possibility to record transactions that cannot be altered. The impact of blockchain in accounting is significant as it eliminates manipulations with records and minimizes human errors. We&rsquo;re going to focus on fraud prevention and error detection capabilities of blockchain in accounting.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/the-role-of-cryptography-in-blockchain-security" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370419274.png" width="100%" height="100%" /><span class="incut--text">In this article you can learn how cryptography makes blockchain safe and the consensus mechanisms its work is based on.</span></a></p>
<h3 dir="ltr" style="text-align: justify;"><strong>Fraud Prevention</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain undermines the pain point of fraudulent actions through immutability and security.&nbsp;</p>
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<p dir="ltr" role="presentation"><strong>Immutability</strong></p>
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<p dir="ltr" style="text-align: justify;">As stated above, the transaction is recorded, while the record is immutable. This is important for accounting to fraud prevention because it makes it difficult for fraudsters to manipulate revenue or conceal expenses.</p>
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<p dir="ltr" role="presentation"><strong>Safety</strong></p>
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<p dir="ltr" style="text-align: justify;">Authorized parties can access a real-time ledger, proving that blockchain can reduce the likelihood of fraudulent reporting. The auditors can cross-check the transactions in real-time, which greatly reduces the risk of any manipulations in the financial statements.</p>
<p dir="ltr" style="text-align: justify;">Moreover, with triple-entry accounting, the blockchain makes it hard&ensp;to commit double-entry fraud. Transactions are cryptographically linked and recorded in the distributed&ensp;ledger, making identifying fraudulent actions easier.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Error Detection and Overcoming</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain helps to identify common human-factor mistakes and helps overcome them via smart contracts and AI integration.&nbsp;</p>
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<p dir="ltr" role="presentation"><strong>Human Errors within Data Entry</strong></p>
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<p dir="ltr" style="text-align: justify;">Blockchain helps resolve issues like incorrect figures or duplicate entries. Multiple parties validate the transduction cryptographically prior to recording. Smart contracts will automate the transactions, minimizing human input.&nbsp;</p>
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<p dir="ltr" role="presentation"><strong>Duplicate Transactions</strong></p>
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<p dir="ltr" style="text-align: justify;">Blockchain can help prevent accidental duplication of invoices, expenses, or payroll payments based on the correct realization of smart contracts or transaction control systems. The chances of record duplication are reduced as each transaction gets a unique cryptographic signature. Blockchain&rsquo;s task is to ensure a real-time reconciliation by underlining the duplicate entries.&nbsp;</p>
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<p dir="ltr" role="presentation"><strong>Transaction Misclassification</strong></p>
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<p dir="ltr" style="text-align: justify;">Another human error in accounting is assigning the wrong category for revenue, expenses, or&ensp;liabilities, which results in erroneous financial statements. Smart contracts and AI analyze transactions and mark inconsistencies, while the immutable ledger ensures proper classification.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Key Benefits of Blockchain in Accounting</strong></h2>
<p dir="ltr" style="text-align: justify;">Accounting organizations can optimize their record processing, minimize fraud, and economize financial input by integrating blockchain technology. Let&rsquo;s analyze the advantages of blockchain in accounting into the following categories.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Transparency</strong></h3>
<p dir="ltr" style="text-align: justify;">The blockchain works on the distributed ledger that instantly&ensp;records any transactions and displays them to authorized users. The immutable ledger eliminates the possibility of changes and is deleted once the finance-relevant operation is recorded. Finally, one of the key benefits blockchain brings to accounting is the absence of dependency on centralized units. All the required stakeholders and auditors are independent in verifying transactions.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Security</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain and accounting are intertwined based on security intensification. Now, let&rsquo;s analyze how exactly blockchain helps accounting improve the security of its operations.&nbsp;&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Blockchain assists accounting services in preventing and reducing fraudulent activities due to the cryptographic security mechanisms that protect against unauthorized access. Another way of supporting safety in accounting is securing financial data through advanced cryptographic encryption. Blockchain can prevent unauthorized alterations in the transactions via the consensus mechanisms that verify and record those operations.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Finally, as in blockchain, there is no need to rely on a third party; decentralized storage minimizes the risks of cyberattacks. For instance, Deloitte relies on machine learning in blockchain that helps check, mark anomalies, and set a risk rate for the transaction.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Nevertheless, it is important to remember the existing threats of cyber attacks on the users&rsquo; non-custodial wallets, smart contracts, and network nodes. The intermediary can store data in a centralized server, making it vulnerable to a single-point attack, while in the blockchain, decentralized storage eliminates this single-point failure and reinforces tamper resistance, making the records immutable based on the blockchain hashing.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Efficiency</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain in accounting applies smart contracts that automate financial transactions. Manual intervention and processing are not required. The ledger facilitates real-time financial reporting, so&ensp;there are no delays in data processing. The distributed nature of the ledger allows auditors to determine if the transaction was legitimate. Overall, blockchain improves the efficiency of accounting services by minimizing the need for repeated data entry, which minimizes human errors.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Cost Savings</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain minimizes overhead and manual transaction processing by excluding the dependency on third parties and eliminating the need to perform manual audits.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Blockchain favorably affects compliance costs by ensuring automatic alignment with accounting regulations. Finally, blockchain minimizes costs associated with error corrections and fraud detection.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>How Can Blockchain Be Used in Accounting?</strong></h2>
<p dir="ltr" style="text-align: justify;">Indisputably, the organization specializing in accounting can benefit significantly from integrating a decentralized ledger due to improved security, optimized time, and efficiency in verifying and operating transactions. But what are the practical examples of blockchain in accounting? Let&rsquo;s clarify.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Auditing and Assurance</strong></h3>
<p dir="ltr" style="text-align: justify;">Traditional accounting depended on third-party confirmations to check and verify whether the financial record was legitimate. Audits were time-consuming due to manual proceeding and verification. Blockchain functionality is based on the smart contract, which benefits audit compliance. It is possible to pre-program specific financial processes to follow audit rules automatically. Auditors don&rsquo;t have to wait for periodic reports. Instead, they can access data in real time.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Tax Compliance</strong></h3>
<p dir="ltr" style="text-align: justify;">Traditional manual tax management faced the challenges of income misreporting or purposeful dedication, which led to tax evasion and non-compliance. Here on, tax audits can be time-consuming to complete.</p>
<p dir="ltr" style="text-align: justify;">Integrating blockchain into accounting can eliminate invoice falsification. Smart contracts can automate the process of invoice verification in real-time prior to processing the tax claim. However, the correctness of data depends on the source information checked by the accountants. The immutable ledger ensures no record can be altered, eliminating the manipulation of tax-relevant data. Finally, due to the integration with the API of tax offices, smart contracts can calculate and file tax automatically based on recorded transactions.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Payroll Management</strong></h3>
<p dir="ltr" style="text-align: justify;">Payroll management encountered the dilemma of ghost employees who could divert and manipulate funds. Implementing blockchain technology in accounting can eliminate potential fraudulent actions in the following ways. Smart contracts can contribute to payroll automation by the automatic proceedings over the salaries only when the predefined conditions are met. Secondly, in blockchain, the payments will be analyzed only when the ID of the verified worker matches with the work records. The next point is that blockchain ensures the records are tamper-proof, meaning that no insider can manipulate the payroll records.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Supply Chain Finances</strong></h3>
<p dir="ltr" style="text-align: justify;">The accounting organizations faced the problem of delayed payments from suppliers. The issue emerged because of the prolonged manual invoice verification. Moreover, manual reconciliation between vendors and clients delayed accounting processing. As blockchain provides real-time reconciliation, it can be integrated to eliminate the presented problems. This translates to real-time transaction recordings, removing the need to carry out manual reconciliation. One of the examples of blockchain in accounting is EY&rsquo;s blockchain analyzer reconciler applied to reconcile and match transactions. The approval of received items stimulates automated payment processing, which eliminates data manipulations, providing accounting with real-time financial tracking.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Agilie, Your Reliable Partner</strong></h2>
<p dir="ltr" style="text-align: justify;">Agilie is a European IT outsourcing organization that crafts from scratch and optimizes software solutions that align with our clients' boldest ideas. Specializing in fintech, mobile banking, and payment solutions, our software benefits multiple industries, including fintech, marketing, logistics, healthcare, real estate, etc. We aspire for client-centricity by aligning with the client&rsquo;s unique needs and embedding them into effective and time-preserving SDLC-based product development.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Our&nbsp;<a title="blockchain software services" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain software services</a>&nbsp;include:&nbsp;</p>
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<p dir="ltr" role="presentation">Blockchain Development</p>
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<p dir="ltr" role="presentation">NFT Crafting</p>
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<p dir="ltr" role="presentation">Smart Contract Development</p>
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<p dir="ltr" role="presentation">Decentralized Finance Development</p>
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<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370581892.png" width="100%" height="100%" /><span class="incut--text">Gain insights into the versatility of our tech experience with Agilie Success Stories.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Conclusion</strong></h2>
<p dir="ltr" style="text-align: justify;">The article answered the question of how is blockchain used in accounting by demonstrating its advantages and use cases. Blockchain technology excludes the reliance on intermediaries and streamlines efficiency by minimizing manual reconciliations and ensuring security and cost-effectiveness.</p>
<p dir="ltr" style="text-align: justify;">Smart contracts automate the transaction verification process, can prevent data falsification, and, by operating on decentralized storage, will make sure that no single entity will have control over the financial records and operations. Therefore, it is important to collaborate with skilled IT professionals who can integrate blockchain technology into your system to ensure the security and integrity of your accounting processes.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370637771.png" width="100%" height="100%" /><span class="incut--text">Don&rsquo;t hesitate to contact us if you want to integrate blockchain into your accounting services.</span></a></p>

<p style="text-align: justify;">Delve into the cases of how is blockchain used in accounting, including its benefits and examples.&nbsp;</p>

Delve into the cases of how is blockchain used in accounting, including its benefits and examples.