Chainlink Partners with Major Financial Institutions, Including Swift, to Improve Corporate Action Data Reporting Using AI and Blockchain

data provider Chainlink (LINK) and major financial market participants such as Euroclear, Swift, and Franklin Templeton announced on Monday the launch of an initiative to use artificial intelligence and Blockchain technology to make corporate behavior data easier to access and standardize.

The project aims to address long-standing challenges in the financial sector. According to Chainlink's report, the lack of standardization and real-time data on corporate behavior, such as mergers, dividends, and stock splits, is highly fragmented in markets such as Europe. Automating and standardizing this information can help significantly reduce operational inefficiencies, which currently result in millions of dollars in losses for companies each year due to errors and manual data processing, and investors typically use this data.