Integrating Blockchain and AI for Efficient Trade Exception Handling: A Case Study in Cross-Border Settlements

Abstract

The paper explores the use of blockchain and artificial intelligence (AI) to enhance trade exception handling in international settlements. Why is this important? Manual interventions, data inconsistencies and delays make conventional settlement processes inefficient. Why? The framework under consideration aims to improve exception handling, reduce processing time, and enhance efficiency of operations by employing blockchain's distributed ledger for openness and AI-based analytics for detecting anomalies. To provide support for the approach, a case study with empirical evidence, technological summary and experimental environment is discussed here. These results point to major decreases in expense as well as in time to solve anomalies.