Swift, UBS, Euroclear, and over 20 leading institutions have come together to tackle a significant $58 billion annual issue in financial markets by leveraging Chainlink technology to mitigate the risk of AI hallucinations in corporate actions. This collaboration is part of a broader trend among financial institutions to adopt blockchain-based solutions to enhance the reliability and security of data processing in capital markets, particularly in automating and securing corporate actions through an integrated onchain infrastructure.

UBS: UBS is a major global financial services firm providing banking, investment, and asset management services. It participates in industry efforts to modernize capital markets infrastructure. UBS joined the project leveraging Chainlink to mitigate risks in corporate actions processing through AI output validation.
Swift: SWIFT operates as the primary global network for secure financial messaging between banks and institutions. It facilitates standardized communication for payments, securities, and trade. In the recent initiative, SWIFT collaborated with Chainlink and other institutions to apply oracle technology for verifying corporate actions data.
Chainlink: Chainlink is a decentralized oracle network that delivers external data and computations to blockchain systems for smart contract execution. It supports cross-chain and real-world integrations in finance. The network was utilized by the group of institutions to cross-verify AI models and minimize hallucination risks during corporate actions handling.
Euroclear: Euroclear provides post-trade services including securities settlement, custody, and collateral management across international markets. It focuses on efficient processing of financial transactions. Euroclear participated in the collaboration using Chainlink to enhance accuracy and reduce errors in corporate actions workflows.

AI Verification: Oracle networks are being applied to validate outputs from multiple AI models for improved reliability in financial workflows.
Institutional Collaboration: Leading financial institutions are partnering on blockchain-based solutions to address operational challenges in capital markets data processing.
Corporate Actions Processing: Global efforts focus on automating and securing corporate actions through coordinated onchain infrastructure involving major market participants.