Swift: Hails results of blockchain pilot for corporate actions data
- Swift has completed a successful blockchain-based corporate actions pilot
- The pilot involved six securities industry participants, including American Century Investments, Citi, and Northern Trust
- The goal was to explore ways to reduce costly frictions associated with communicating significant corporate events to investors
- The testing concluded that the technology could be beneficial for the industry, providing a clear and consistent view of corporate actions
- It plans to explore the tech further with its broader community to assess the requirements for a fully viable
- The system demonstrated the potential to significantly reduce manual effort and errors in corporate action processing
