The Italian Banking Association has opened a pilot project, using R3's blockchain-based Corda platform, to bring more visibility to interbank transactions, Finextra reports. The work group, composed of 14 participating banks and ABI Lab, is verifying the matching of correspondent accounts and highlighting discrepancies for automated remediation. By restricting use to national banks, the Italian experiment could overcome the issues of scale facing a global provider like Swift. After an initial test phase, it is expected that the pilot will be extended to a larger number of banks.