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Major lending institutions are turning to distributed ledger technology and artificial intelligence to prevent collateral double-pledging that caused significant financial losses. These technological solutions create immutable digital records of pledged assets while providing real-time monitoring of lending risks, sources indicate.
Recent high-profile cases in auto lending and corporate finance have exposed a critical weakness in traditional financial systems: the inability to track collateral effectively across multiple lenders. According to reports, subprime auto lender Tricolor allegedly duplicated vehicle identification numbers to secure multiple loans against the same assets, while auto parts manufacturer First Brands reportedly used the same accounts receivable to obtain financing from different institutions. These incidents, sources indicate, demonstrate a systemic vulnerability where borrowers can pledge the same collateral repeatedly without detection.
