Unlocking wealth: AI and blockchain solutions for unclaimed asset recovery
blockchain technology presents a game-changing alternative. Blockchain guarantees transparency in the context of unclaimed assets at every stage of the transaction, from the first share issuance to the declaration and dividend distribution. The defining feature of blockchain technology, smart contracts, can reduce administrative costs and guarantee regulatory compliance by automating the process of identifying rightful owners and transferring assets based on predetermined criteria.
AI can speed up asset recovery by increasing asset identification efficiency and accuracy through the use of machine learning techniques. Recovering lost money requires the assistance of financial advisors and companies that specialise in unclaimed asset management. In addition to providing end-to-end support services, including managing paperwork, facilitating legal documentation, and liaising with regulatory bodies, these businesses also educate their clients on the importance of maintaining current contact details.
By maintaining constant contact with registrants and businesses, these organisations ensure a smooth and efficient claims process. Financial advisors are also crucial in helping their clients plan forward financially. Advisors who emphasise the importance of account consolidation and routinely update personal information lessen the risk of unclaimed assets.
Another way that financial institutions' strong notification systems ensure that investors take quick action to recover assets is by making sure they are informed about dormant accounts or unclaimed dividends. It's also critical that they understand how to use Blockchain technology to manage unclaimed assets and interpret AI-driven data. Indian unclaimed asset percentage is
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