The Hub will be staffed by a multi-disciplinary team working with central banks across the region to investigate some of the most pressing technology challenges facing the international financial system
Four distinct projects have been defined for the Hub’s input:
The Eurosystem Hub is part of a concerted global effort by central banks to get on top of emerging technologies. It forms part of a network that currently spans Hong Kong, London, Singapore, Stockholm and Switzerland.
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Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioural-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub.
Nubank is doubling down on its AI-first strategy with the acquisition of Silicon Valley-based data intelligence outfit Hyperplane for an undisclosed fee.
Deutsche Bank is setting up an environmental, social and governance (ESG) centre of excellence in Singapore.
Alibaba Group has cancelled its plans to spin-off its cloud division due to uncertainties from US exports on AI chips.