CODEL AGREES TO CREATE A WORKING VERSION OF THE DRAGONFLY CORPORATE ACTIONS DATA ASSURANCE SERVICE FOLLOWING SUCCESS OF THE PILOT AND CONSULTATION PHASE JOINTLY RUN BY CODEL/SWIFT
Following the SWIFTannouncement that phase one of the Dragonfly project was successful and its ethusiastic reception by key industry stakeholders, Codel has agreed to create a working version. Dragonfly will provide a web interface with automated service calls so that defined source data elements can be submitted to the Dragonfly repository which will also assign a unique corporate actions identifier (COAF) and provide cross-referencing between other proprietary unique identifiers. Data sets submitted to and stored within Dragonfly will be Codelmarked so that they can be verified and consumed automatically and, if verification fails, Dragonfly can be interrogated to distinguish between ‘good source’ data and other data that may be problematic.
Paul FitzGerald, corporate actions processing and standards veteran has joined the Codel team as an independent consultant to assist Codel in developing and implementing the Codel service to provide certainty to corporate actions information for banks and financial institutions.
As part of Codel's drive to become the standard for notarisation of all things digital it is developing a solution for authenticating the image data produced by CCTV cameras. The use of CCTV images as convicting evidence is tenuous as it is difficult to prove that the images have not been altered. Codel provides independent proof of the provenance of image data throughout the evidential process.
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