SWIFT is modernizing global banking by integrating blockchain and artificial intelligence to facilitate secure and efficient transfers of tokenized assets.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has outlined a strategy to modernize global banking infrastructure by integrating emerging technologies such as blockchain and artificial intelligence (AI). This effort seeks optimize efficiency, security and transparency of international financial transactions.
According to the interbank network, the initiative focuses on addressing existing challenges in processing corporate actions and in Facilitate interoperability between traditional financial systems and new digital asset platforms.
GO TO BIT2ME LIFEUntil now, data fragmentation and reliance on manual processes have been among the most significant obstacles to corporate governance. However, SWIFT, with its central position in the global financial system, is taking proactive steps to address these issues and lead the industry's digital transformation. Collaboration with other institutions and the adoption of common standards are key elements for the success of this strategy.
The CALM Project: Maximizing Efficiency with AI and Blockchain
The CALM Project (Corporate Actions Life Cycle Management) exemplifies SWIFT's approach to innovation. This initiative, in collaboration with chainlink and other industry participants, explores the use of AI and blockchain to optimize corporate action processes. The main objective is to reduce manual intervention, ensure real-time data availability, and improve information accuracy.
In the first phase of this project, we demonstrated how AI language models and a decentralized network can revolutionize corporate action management. In this context, AI is used to extract and standardize unstructured data directly from issuers' announcements, making this information accessible on the blockchain. This not only reduces the need for manual intervention but also ensures the availability of real-time data. Furthermore, it represents a significant advancement for the industry, as it includes both digital and traditional assets.
On the other hand, a key aspect of CALM is the solution to data fragmentationBy creating a unified, interoperable ledger that can flow seamlessly between traditional and blockchain networks, both data accuracy and timeliness are improved.
BUY ETHEREUM ON BIT2MEDuygu Kaya, SWIFT's head of capital markets strategy, has featured The organization's commitment to leading this process, not only as a technology provider, but as a strategic partner for the entire capital markets ecosystem. Initiatives like Project CALM demonstrate what can be achieved when working together to innovate and address the challenges of the financial industry.
Interoperability in the future of tokenized assets
One of SWIFT's core objectives is to facilitate the interoperability between different types of assets, including tokenized ones. The ability to transfer these assets efficiently and securely is crucial to the development of decentralized finance (DeFi) and the broader adoption of blockchain technology.
SWIFT is conducting live experiments to test the interoperability of digital asset transactions on its network, with the goal of launching these services by 2025.
SWIFT's vision is to create an infrastructure that allows financial institutions to access and transfer tokenized assets as easily as traditional assets. This involves creating standards and protocols that enable communication and information exchange between different blockchain platforms and existing banking systems.
EXPLORE NEW OPPORTUNITIES – INVITE AND EARNTo achieve its goals, SWIFT is also exploring the use of AI to improve security and regulatory compliance in digital asset transactions. AI can be used to monitor transactions in real time, detect suspicious patterns, and prevent fraud. This is especially important in the context of decentralized finance, where lack of regulation and anonymity can increase the risk of illicit activities.
Solving data fragmentation in corporate operations
As mentioned, data fragmentation is one of the biggest challenges in processing corporate transactions. Information on dividends, mergers, acquisitions, and other corporate events is often scattered across different systems and formats, making it difficult to access and process. This can lead to delays, errors, and additional costs for financial institutions.
However, SWIFT is addressing this problem by creation of a unified and interoperable registry, which relies on blockchain technology to ensure data integrity and transparency. In addition, SWIFT is working with issuers, custodians, and asset managers to establish common standards for information collection and sharing.
The implementation of this unified blockchain-powered ledger will allow financial institutions to access accurate and up-to-date information on corporate actions in real time, reducing the need for manual processes, improving operational efficiency, and minimizing the risk of errors. It will also facilitate regulatory compliance and reporting.
BUY SOLANA ON BIT2METhe impact on global banking and decentralized finance
By modernizing its infrastructure and facilitating interoperability between traditional financial systems and blockchain platforms, SWIFT is paving the way for greater adoption of digital assets and decentralized technologies.This modernization not only streamlines processes and reduces manual intervention, but also minimizes operating costs for financial institutions, enabling more efficient and automated transaction management.
At the same time, the integration of blockchain technology brings a unprecedented transparency, facilitating regulatory compliance and reducing the risks of fraud and corruption thanks to the immutable record of each transaction. Furthermore, interoperability between traditional infrastructures and blockchain networks expands access to financial services, opening new opportunities for underserved populations and promoting greater financial inclusion on a global scale.
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Therefore, SWIFT's advancement in asset tokenization and experimentation with emerging technologies is paving the way for innovative business models, from payment automation to the creation of secondary markets for digital assets.
All of these initiatives, developed in collaboration with major financial institutions and leading Web3 platforms, demonstrate the technology's potential to connect multiple networks and systems and provide a single, secure access point for the global transfer of tokenized value.
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