BIS announced key personnel appointments to the Innovation Hubs in Singapore and Switzerland. Andrew McCormack, the Chief Information Officer at Payments Canada, will head the Hub center in Singapore while Morten Bech, the Head of Secretariat for CPMI, will head the Hub center in Switzerland. Both appointees bring strong experience in the technology arena and their new roles start in April for three-year terms. The Innovation Hubs constitute a new initiative designed to support central bank collaboration on new financial technology.
The Innovation Hub aims to identify, and develop in-depth insights into, critical trends in technology affecting central banking. It also aims to develop public goods in the technology space geared toward improving the functioning of the global financial system and serve as a focal point for a network of central bank experts on innovation. As part of the initial phase of implementation, Hub centers have been established in Hong Kong SAR, Singapore, and Switzerland. Appointment for the head of the Hong Kong Hub Center will be announced in due course.
Keywords: International, Europe, Asia Pacific, Switzerland, Singapore, Banking, Innovation Hub, Andrew Mccormack, Morten Bech, Regtech, Fintech, BIS
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