Multi-Party Data Reconciliation for Banking & Custody

Business networks thrive on trust. A neutral, transparent platform for data exchange reduces the need for costly intermediaries and constant manual verification. This trust layer lowers barriers to collaboration, enabling more agile and expansive partner ecosystems.

• Example: The Marco Polo Network for trade finance connects banks, corporates, and logistics providers on a shared platform, enabling trusted, automated transactions like Payment Commitments and Receivables Discounting without repetitive due diligence.

Eliminate costly invoice and shipment disputes by recording every custody transfer on an immutable ledger. Key benefits:

• Automated reconciliation between shippers, carriers, and receivers.
• Real-time audit trail reduces invoice discrepancies by up to 90%.
• Example: Maersk and IBM's TradeLens platform cut document processing time from days to minutes, reducing fraud and errors.
• ROI Driver: Direct cost savings from reduced administrative overhead and faster payment cycles.

Replace days-long correspondent banking with near-instant, atomic settlement. Key benefits:

• Eliminate nostro/vostro accounts, freeing up billions in trapped capital.
• Programmable letters of credit auto-execute upon IoT sensor confirmation (e.g., port arrival).
• Example: J.P. Morgan's JPM Coin settles intraday repo transactions, providing 24/7 liquidity.
• ROI Driver: Reduced capital requirements, lower counterparty risk, and new revenue from 24/7 markets.

Track high-value assets (e.g., aircraft parts, pharmaceuticals) across a consortium of partners with guaranteed data integrity. Key benefits:

• Shared golden record replaces conflicting databases between OEMs, MROs, and lessors.
• Automated compliance for regulations like FAA Part 135 or DSCSA.
• Example: Boeing uses blockchain to create digital twins for aircraft parts, streamlining maintenance logs across airlines and regulators.
• ROI Driver: Increased asset utilization, reduced fraud, and accelerated audit processes.

Streamulate multi-party claims (e.g., marine, cargo) by synchronizing data between insurers, reinsurers, and third-party adjusters. Key benefits:

• Single version of truth for the claim file, eliminating back-and-forth.
• Smart contracts can automate payouts for parametric triggers (e.g., verified flight delay).
• Example: AXA's Fizzy used Ethereum to offer automated flight delay insurance, paying claims instantly without paperwork.
• ROI Driver: Drastic reduction in claims processing costs and time, improving customer satisfaction.

Reconcile complex energy trades and carbon credit issuance across a fragmented ecosystem of producers, grid operators, and regulators. Key benefits:

• Automated Renewable Energy Certificate (REC) tracking from creation to retirement.
• Peer-to-peer energy trading with transparent, automated settlement.
• Example: WePower platform connects green energy producers directly with corporate buyers, using blockchain to verify and settle REC transactions.
• ROI Driver: Unlocks new markets, reduces transaction friction, and provides an auditable trail for ESG reporting.

Manual reconciliation of shipment data between shippers, carriers, and receivers leads to invoice disputes and delayed payments. A permissioned blockchain creates an immutable, shared ledger of events (e.g., temperature, GPS, customs clearance).

• Real Example: Maersk & IBM's TradeLens reduced document processing time by 40% and cut costs associated with document handling by up to 15% by providing a single, trusted view of shipping data.
• ROI Driver: Faster settlement cycles, reduced administrative overhead, and elimination of reconciliation labor.

Cross-border payments involve multiple correspondent banks, each maintaining separate ledgers, leading to delays, high fees, and operational risk from mismatched records. Blockchain enables atomic settlement where payment and asset transfer are simultaneous and final.

• Real Example: J.P. Morgan's JPM Coin System provides real-time, 24/7 settlement for institutional clients, reducing the traditional multi-day process to minutes.
• ROI Driver: Lower liquidity requirements, near-elimination of nostro account reconciliation, and reduced failed transaction costs.

Complex claims involving multiple insurers (e.g., auto accidents with multiple parties) require lengthy investigation and manual data sharing, slowing payouts. A shared ledger automates claims validation and subrogation (recovery from at-fault parties).

• Real Example: B3i (Blockchain Insurance Industry Initiative) prototypes showed potential to cut claims processing time from months to weeks by providing all parties with a single, auditable record of the claim and policy data.
• ROI Driver: Accelerated cash flow, reduced fraud, and lower administrative costs per claim.

Paper-based Letters of Credit (LCs) require manual verification by exporters, importers, and their banks, creating a 5-10 day delay prone to errors and fraud. Smart contracts can automate LC issuance and payment upon verification of digital shipping documents.

• Real Example: HSBC and ING executed the first commercially viable blockchain-based LC for a shipment of soybeans, reducing processing time from 5-10 days to 24 hours.
• ROI Driver: Drastically reduced working capital cycles, lower processing fees, and minimized risk of documentary fraud.

Reconciling patient data across hospitals, labs, and insurers is slow and error-prone, hindering care and research. Blockchain provides a patient-centric audit trail where data sharing is permissioned and verifiable.

• Real Example: MediLedger Network creates a secure, interoperable record for drug provenance and chargeback reconciliation in the pharmaceutical supply chain, ensuring compliance with the US Drug Supply Chain Security Act (DSCSA).
• ROI Driver: Reduced compliance costs, faster patient onboarding for trials, and elimination of manual data reconciliation between entities.

Tracking the origin and trade of Renewable Energy Certificates (RECs) and carbon credits involves manual verification and complex multi-party accounting. A blockchain ledger creates a tamper-proof certificate of origin and automates settlement.

• Real Example: WePower platform uses blockchain to facilitate peer-to-peer green energy trading, allowing producers and consumers to trade directly with transparent, automated settlement of energy and RECs.
• ROI Driver: Reduced transaction costs for REC trading, increased market liquidity, and guaranteed auditability for sustainability reporting.