Chainlink: Revolutionizing Corporate Actions with AI
Chainlink has just announced a revolutionary initiative in partnership with 24 major financial institutions and market infrastructures, including the Depository Trust & Clearing Corporation (DTCC), SWIFT, and Euroclear. The goal? To standardize corporate action processing and reduce settlement risks.
Currently, the financial industry spends approximately $58 billion annually to manage these processes, with automation rates below 40%. But thanks to artificial intelligence (AI) and distributed ledger technology (DLT), Chainlink aims to radically transform this equation.
The system developed by Chainlink and its partners integrates AI and DLT to provide structured and validated corporate action data in multiple languages. This allows for reducing processing times from several days to just minutes.
Institutions such as UBS, BNP Paribas Securities Services, ANZ, Wellington Management, and DBS Bank have already tested the system and observed near-complete consensus of data from AI models. The architecture has also been designed to support multilingual disclosures, paving the way for potential coverage across multiple jurisdictions.
Toward Massive Adoption in the Financial Sector
This initiative follows a pilot conducted in 2023, where Chainlink, SWIFT, Euroclear, and several banks demonstrated how large language models could analyze unstructured announcements and publish standardized records on the blockchain.
The next phase will involve using the Chainlink Runtime Environment (CRE) to validate AI outputs, convert them into ISO 20022 compliant messages, and then transmit them via the SWIFT network. The Chainlink Cross-Chain Interoperability Protocol (CCIP) will also distribute confirmed records across DTCC’s blockchain ecosystem and multiple networks.
By participating in this initiative, financial institutions and market infrastructures aim to significantly reduce costs associated with corporate actions and improve the overall efficiency of the settlement process. A major transformation in the financial industry worldwide.
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