AI and blockchain solutions for unclaimed asset recovery, says Vikash Kumar Jain of Share Samadhan

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MintGenie, Jain said that securities may lie unclaimed due to lack of awareness, change of address, failure to update contact information, death of the shareholder with uninformed heirs, lost documentation, and inactive accounts.Unclaimed shares and dividends are equity shares and their payouts that have not been claimed by their rightful owners even after the declaration of a dividend. Reasons include lack of awareness, outdated contact information, or heirs being unaware of investments.

These shares and dividends if unclaimed for seven years or more are accumulated and transferred to the IEPF Authority as per regulatory requirements.Securities may lie unclaimed due to lack of awareness, change of address, failure to update contact information, death of the shareholder with uninformed heirs, lost documentation, and inactive accounts. These factors contribute to shareholders losing track of their investments, resulting in unclaimed assets.

Also Read: How to claim unclaimed deposits and investments? A step-by-step guideBlockchain can provide a transparent mechanism for tracking ownership and automating transfers of unclaimed assets through smart identification of claimants.

Artificial Intelligence can analyze data to detect unclaimed investments and match them with potential owners by cross-referencing sources like death records and address changes. These technologies can streamline and secure the identification and claims process.Organizations like Share Samadhan and financial advisors play a key role by educating clients, providing end-to-end support services, and maintaining proactive communication with Registrars, Companies, and Authorities.