What do we do?
The BIS Innovation Hub has a threefold mandate:
- We identify, in a structured and systematic way, critical trends in technology affecting central banking in different locations, and develop in-depth insights into these technologies that can be shared with the central banking community.
- We develop public goods in the technology space geared towards improving the functioning of the global financial system.
- We serve as the focal point for a network of central bank experts on innovation, with regular events to promote exchange of views and knowledge-sharing.
These efforts complement the well established cooperation within the BIS-hosted committees.
Why was the Innovation Hub set up?
- Technology-driven innovation in financial services is accelerating, and will have major consequences for global financial systems and central banks.
- The IT revolution has repercussions in multiple locations simultaneously.
- Central banks can achieve economies of scale by working together.
What are we working on?
The Innovation Hub work programme demonstrates our focus on six key areas as we fosters international collaboration among central banks on innovative financial technology.
In January 2021, the BIS Innovation Hub launched the BIS Innovation Network to support the Innovation Hub priorities, share knowledge about technology projects and discuss innovative answers to problem statements relevant to central banks.
Who are we?
Based in Basel, the BIS Innovation Hub Secretariat supports the Head of the Innovation Hub in the management and oversight of the Hub’s operations. Under the guidance of the Head of the Innovation Hub, it develops policies and procedures governing the Hub’s operations, and prepares background notes for BIS Management and the BIS governing bodies. It leads the development of the Innovation Hub work programme, organises meetings of the Innovation Hub Advisory Committee, coordinates the work of the BIS Innovation Network, and guides the implementation of the Phase II expansion of the Hub. It ensures appropriate oversight of the implementation of projects in the Hub Centres, the preparation and implementation of the Innovation Hub budget, and the continuous development of its IT framework.
Where do we operate?
We have multidisciplinary teams located in Hong Kong SAR, Singapore and Switzerland, and will soon open centres in Toronto, London, Frankfurt/Paris and Stockholm.
The BIS has also formed a strategic partnership with the Federal Reserve System in New York.
The BIS Innovation Hub Centre in Hong Kong SAR was established in 2019. Its current project focus areas are CBDC, open finance and green finance. Read more
The BIS Innovation Hub Centre in Singapore was established in 2019. Its current project focus areas are suptech, regtech, CBDC and next-generation Financial Market Infrastructures (FMIs). Read more
The BIS Innovation Hub Centre in Switzerland was established in 2019. Its current project focus areas are CBDC, suptech and regtech. Read more
BIS Innovation Hub
Bank for International Settlements
CH-4002 Basel, Switzerland
Tel: +41 61 280 8498
Read More: About the BIS Innovation Hub