Interbank cooperative SWIFT announced the successful completion of its blockchain-based solution to reduce the costs associated with corporate actions.
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) announced that it successfully concluded an experimental solution to reduce the costly frictions associated with corporate actions.
In partnership with 6 leading securities players, including @AmericanCentury, @Citi & @NorthernTrust, we’ve successfully trialled an innovative #blockchain solution to reduce costs & frictions in corporate actions. Check out the pilot results & next steps: https://t.co/8PFjKaNZo0 pic.twitter.com/kYO9koXLlN
— Swift (@swiftcommunity) March 23, 2023
Together with six leading securities industry participants, including Citi, Northern Trust and American Century Investments, SWIFT completed a pilot of a blockchain-based solution that could reduce the costs associated with communicating significant corporate events to investors. The cooperative said that its solution could benefit the industry and provide a “clear and consistent” view of the corporate action process throughout the investor ecosystem, along with quickly providing alerts when changes or updates occur.
SWIFT Completes Blockchain Solution to Reduce the Costs Associated with Corporate Actions
When publicly traded companies share news of corporate actions with their investors, they depend on manual processes. The manual process of relaying this information often results in recipients receiving inaccurate or missing data. To address this issue, SWIFT partnered with
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Author: Jana Serfontein
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