SWIFT, Accenture outline distributed ledger technology path

SWIFT has published a new paper investigating how distributed ledger technologies (DLTs) could be used in financial services. Published in tandem with Accenture, the paper is based on an in-depth technology assessment by SWIFT of DLT usage across financial institutions, highlighting the opportunities as well as the challenges for industry wide adoption.

As a result of the technology assessment, SWIFT and Accenture identified gaps between existing DLT solutions and industry requirements, including eight critical factors that need to be addressed for the technology to achieve industry-wide adoption. The paper also highlights SWIFT’s research and plans to build technical, operational and business capabilities with a view to evolve its platform such that DLT-based services could be offered, when the technology matures and business use cases emerge across multiple verticals.