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NEW BIS Innovation Hub to Focus on RegTech

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The Bank of International Settlements (BIS) has launched its third BIS Innovation Hub centre in Singapore, following two recently launched centres in Hong Kong and Switzerland. The Singapore branch will focus on two areas: 1) digital infrastructures on identity, consent and data sharing, and 2) the creation of a digital platform to connect regulators and supervisors with digital and technology solution providers. Through the platform, central banks will be able to put up regulatory problems and challenges to source solutions from the FinTech community. “This will help central banks develop innovative solutions and policies for cost-effective regulation and supervision,” says BIS. The hub was launched at the 2019 Singapore Fintech Festival.

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