BIS arm calls for global hackathon to solve compliance problems

Singapore

THE Bank of International Settlements (BIS), through its Singapore innovation hub arm, on Wednesday called for private firms to participate in a global "remote hackathon" to solve urgent problems related to regulatory compliance and ensuing supervisory processes.

The initiative, known as the G20 TechSprint initiative, will be hosted on an innovation platform tied to the Monetary Authority of Singapore (MAS). This platform is the API Exchange (APIX), a global marketplace for financial institutions, regulators, supervisors, central banks and fintechs to connect with one another.