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Because it takes several days to settle international transactions, trillions of dollars are "in flight" at any time and are at risk if the parties involved default during that time.
New technology, such as blockchains, could accelerate settlement to seconds, making much of this risk disappear.
One major bank loses $500 million a year due to errors processing corporate actions.
$235 billion were lost to fines since the last financial crisis.
No matter what technology you use, no matter which business you are in, you must know: who your customers are, where they are, what products you are offering, and when you've contracted an obligation to them.