SWIFT tests show blockchain has potential for global liquidity optimisation
(WorldNews Belgium)

Brussels, 13 October 2017 - SWIFT has published an interim report on the proof of concept (PoC) for real-time Nostro reconciliation using a SWIFT-developed distributed ledger technology (DLT) sandbox with 33 global transaction banks, as part of its SWIFT gpi service. The PoC is testing whether DLT can help banks reconcile Nostro accounts more efficiently and in real-time, while lowering costs and operational risk. The report provides an overview of the PoC to date, including technical objectives, early findings on the potential business benefits, as well as key challenges that still need to be addressed to achieve industry-wide adoption. Under the current correspondent banking model, banks...