Chainlink (LINK) has unveiled a new initiative aimed at transforming the corporate actions processing system, collaborating with 24 of the world’s largest organizations of the broader financial sector.
This is expected to save the global financial industry billions of dollars annually by minimizing processing disruptions, reducing settlement errors, expediting reconciliations, and lowering operational risks faced by financial institutions.
Corporate actions processing currently costs the financial industry an estimated $58 billion each year, with costs increasing by 10% annually and automation rates lagging below 40%.
In the first phase of the initiative, Chainlink, SWIFT, Euroclear, and several financial institutions showcased how large language models (LLMs) — including OpenAI’s GPT and Google’s Gemini — could effectively extract structured data from unstructured corporate action announcements.
Additionally, the Chainlink Cross-Chain Interoperability Protocol (CCIP) enabled the distribution of these records across both DTCC’s blockchain ecosystem and various public and private blockchain platforms.
This initiative not only achieved nearly 100% data consensus among the AI models assessed but also demonstrated multilingual processing capabilities, accommodating disclosures in languages such as Spanish and Chinese.
Looking ahead, the team plans to expand this workflow to accommodate more complex corporate actions, such as stock splits, while increasing global coverage through additional jurisdictions and currencies.
Enhanced privacy and governance controls will also be introduced to meet the operational and compliance needs of financial institutions worldwide. Sergey Nazarov, Co-Founder of Chainlink, stated:
Addressing the data validation challenges of corporate actions through AI Oracle Networks represents a significant advancement, demonstrating that multiple AIs can achieve consensus on critical information within a Decentralized Oracle Network.
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