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to explore an innovative operational business model integrated with blockchain technology to enhance operational efficiency, especially in reconciliation across investment banks. Therefore, we have identified a gap based on the previous studies conducted by various authors, i.e. Smart contracts are very promising in terms of removing long-lasting barriers to improve efficiency by eliminating transaction costs, improving processing time and rendering effective financial services to customers ( O'Shields, 2017). ![]() The technical support team must assist issues related to resolutions, operations and business continuity processes ( Hassani, Huang, & Silva, 2018). The bank must have sufficient financial support to test the prototype before actual implementation and to support the additional cost involved in training, accumulation, implementation and maintenance. ![]() INMR SETTING INTEGRAL VALUES SOFTWAREThe information technology (IT) team must render constant support to the management both through infrastructural development and software application, in addition to training end-users, periodical up-gradation, resolution to technical issues, and testing, maintaining and reporting system performance ( Racine & Dancs, 2020). It revolutionizes the stock markets by reducing intermediaries, offering regulatory built-in chips, simplifying post-trade settlements, establishing the market for security tokens and automated regulatory machines, facilitating dividend payments, fund-raising, asset management, token-based micro-investing, e-voting for bond and stockholders, tracking securities lending and blockchain-based mutual funds ( Shah & Jani, 2018). These reasons lead to differences in accounting information between the custodian and the investment bank, which end up publishing their financial results with these discrepancies being carried forward or left unaddressed for a long time this is why they fail to connect in real-time ( Devi, 2018). There are numerous challenges concerned with inter-entity reconciliation, which arise due to many reasons like lack of quality information, reporting deadlines, tight schedules and decentralized communication between counterparties and players in the market. Reconciliation is one of the major activities of these banks at the back end, with tremendous human resources spread across many countries. The mentioned technology has its applications in investment banking in the form of interbank transactions, smart contract enforcement, remittance, regulatory reporting, cryptobanking, record sharing with storage, trade finance, data security, clearing with the settlement, increasing transparency, loan syndication, serving unbanked, know your customer (KYC) and anti-money laundering (AML). Many industries embrace the blockchain technology due to its promising and crucial role in restructuring their business process primarily targeted toward process efficiency, cost-effectiveness and time saving with the potential to operate the business in real-time to curb the pain points of reconciliation at the middle and back-end levels by investment banks. ![]() They often deal with voluminous data at various levels of operations across the globe as an integral part of their banking business. Investment banks play a significant role in the economic development of a nation. INMR SETTING INTEGRAL VALUES FULLThe full terms of this licence maybe seen at. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. ![]() This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Published in Innovation & Management Review. INMR SETTING INTEGRAL VALUES LICENSECopyright © 2021, Vedapradha R and Hariharan Ravi License ![]()
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