Blockchain technology has the potential to reduce costs, improve product offerings and increase speed for banks, according to the most recent report from the Euro Banking Association (EBA). Founded in 1985 and supported by the European Commission, the EBA is a practitioner's body for banks and other service providers that promotes a pan-European payment system and business practises. Despite mostly dismissing digital currencies – the report notes they differ from "legitimate fiat currencies" – it asserts their applications are essential for "gaining more advanced knowledge of crypto technologies". These technologies are likely to be integrated with the existing financial system in the next one to three years, the EBA says.

http://www.coindesk.com/blockchain-tech-can-improve-banking-says-eba-report/