Bank for International Settlements setting up Singapore innovation hub

Singapore

THE Bank for International Settlements (BIS) has picked Singapore as one of three sites where they will set up its first wave of innovation hub centres.

In an announcement on Sunday, the BIS said the hubs will identify and develop deep insights into critical trends in central banking technology; develop public goods in the technology space to improve the global financial system; and serve as a focal point for a network of central bank experts on innovation.