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Swift: Hails results of blockchain pilot for corporate actions data | Fintech InShorts: Latest fintech news, analysis by experts

Swift: Hails results of blockchain pilot for corporate actions data

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

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