BIS Innovation Hub Nordic Centre
The Bank for International Settlements (BIS) in cooperation with the Riksbank and the central banks of Denmark, Iceland and Norway, has established a centre for innovation in Stockholm – the BIS Innovation Hub Nordic Centre. The Nordic innovation centre will work to deepen the analysis of technological financial innovations relevant to central banks.
The Centre will serve as a hub for a network of experts in innovation, for research on key financial technology trends of relevance to central banks, and for fostering international cooperation to improve the functioning of the global financial system.
The Centre contributes to increasing Denmark, Iceland, Norway and Sweden’s knowledge of new technologies and how they can be used to improve and further adapt central bank infrastructure services to the needs of the financial sector and to make their work more efficient. It will also contribute to deepening expertise in several areas of financial innovation relevant to central banks.
The Centre opened in June 2021 and Riksbank staff work there together with colleagues from the BIS, Denmark, Norway, Iceland and other countries. The focus of the work has been on technical solutions for cybersecurity, offline payments and more effective anti-money laundering methods.
BIS Innovation Hub
The BIS Innovation Hub was established in 2019 and consists of a network of innovation centres in the Eurosystem (Frankfurt and Paris), Hong Kong, Canada (Toronto), Switzerland (Basel and Zurich), Singapore, Sweden (Stockholm), and the United Kingdom (London). The BIS also has a partnership with the Federal Reserve System’s New York Innovation Center.
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