Bank of England and BIS launch innovation hub in London
The Bank of England and the Bank for International Settlements (BIS) have launched a new London-based center as part of the BIS Innovation Hub program.
The BIS Innovation Agenda aims to foster innovation in technology-driven financial services, striving to identify technology trends that are having an impact and serving as a focal point for innovation in the community. central banking.
It focuses on six areas, including the use of technological innovation in supervision and regulation, next-generation financial market infrastructures, central bank digital currencies, open finance, cybersecurity and green finance.
The launch in London accompanied the opening of centers in partnership with the Bank of Canada in Toronto, the European Central Bank in Frankfurt and Paris, and the four Nordic central banks Danmarks Nationalbank, the Central Bank of Iceland, the Central Bank of Norway and Sveriges Riksbank, in Stockholm.
“As a central bank, we recognize the importance of innovation to the global financial system and seek to support its safe deployment to the extent possible,” said Andrew Bailey, Governor of the Bank of England. “This requires collaboration between public authorities in all jurisdictions, and the BIS Innovation Hub is an important global initiative to achieve this. “
The launch follows a series of regulatory initiatives by the UK government to strengthen the city following the UK’s departure from the EU on December 31 and the loss of some market segments, including stock exchanges in the ‘EU.
“The UK is known for pushing the boundaries of digital finance, so it’s great to have the new innovation hub opening here. His work will help central banks support safe innovation and strengthen our efforts to seize the extraordinary potential of technology, ”said Rishi Sunak, British Chancellor of the Exchequer.