BIS Innovation Hub Centre - Eurosystem

The BIS Innovation Hub Eurosystem Centre is a joint effort by the BIS and all Eurosystem central banks and will open in the first half of 2023. The Centre will have offices in Frankfurt and in Paris, hosted and supported by the Deutsche Bundesbank and the Banque de France. The European Central Bank will coordinate the interactions of the Eurosystem with the Centre. The Centre's project focus areas will be decentralised finance, wholesale CBDC, cyber security and green finance.

Our Centre

6 Feb 2023

Raphael Auer, Head of the Innovation Hub Eurosystem Centre, discusses plans for the centre's projects and priorities, and explains how its unique setup and interactions with the Eurosystem will foster innovative thinking.

Collaboration is encoded into Europe's DNA. The Eurosystem comprises the central banks of the euro area countries, plus the European Central Bank. Thanks to this unique setup, the innovative forces of the entire euro area can be melded with those of the BIS Innovation Hub's global network of Hub centres. The Eurosystem Centre will be situated in two of Europe's most important financial hubs, Frankfurt and Paris.

  • Frankfurt, the "city of the euro", is the only city in the world that is home to two central banks. The Eurosystem Centre office will be located at the Trianon, next to the Bundesbank's "InnoWerk", allowing it to leverage the innovative potential of the central banks as well as the financial sector.
  • Paris is a global economic metropolis that hosts significant research and development centres and major tech companies. The city is home to a plethora of significant financial institutions as well as a thriving startup ecosystem. The Eurosystem Centre Paris office will be next to "Le Lab", the open innovation hub of the Banque de France.  

The BIS Innovation Hub Eurosystem Centre can be reached at EurosystemCentre@bisih.org.


Our team

From top to bottom, left to right: Marina Sanchez del Villar (Senior Fellow), Jan Paulick (Adviser), Calin Simon (Adviser), Angela Dupont (Adviser), Raphael Auer (Centre Head), María Molero (Adviser) and Mona Mathieson-Nanavati (Administrative Officer).

Not on the picture: Timothy Aerts (Adviser), Jonas Arnold (Administrative Officer) and Nina Gonschorreck (Adviser).


Our projects

 

Project Leap: Quantum-proofing the financial system

Project Leap will investigate and test cryptographic solutions that can withstand the vastly improved processing power of quantum computers. The goal is – together with Banque de France and Deutsche Bundesbank, the project partners within the Eurosystem – to test use cases in various payment systems and examine how the introduction of new quantum-resistant cryptographic protocols will affect their performance.

 

Project Gaia: Increasing the transparency of climate-related disclosures

Project Gaia explores the use of state-of-the-art technologies, such as natural language processing, optical character recognition and machine learning, as applied to the extraction of climate-related data from non-standardised, publicly available and self-reported corporate reports in a structured form. This project will develop an open-source database of corporate reports, as well as a full-text search engine to identify sustainability-related disclosures and data visualisation tools to facilitate climate and environmental risk assessments. The project partners within the Eurosystem are Banco de España and Deutsche Bundesbank.

 

Project Atlas: Mapping the word of decentralised finance

The collapse of many stablecoins and decentralised finance (DeFi) lending platforms has highlighted the difficulty of assessing the risks and economic potential of DeFi. Together with the project partners within the Eurosystem (Deutsche Bundesbank and De Nederlandsche Bank), this project will create an open-source market intelligence platform to shed light on market capitalisations, economic activity and risks to financial stability.

The Eurosystem Hub Centre will be a key part of our growing project portfolio and expanding geographical footprint. It will enable the Hub to work on more projects in a broader range of subject areas.

Agustín Carstens, General Manager of the BIS

Our work relies on diverse, multi-tasking and flexible teams driving different projects. We collaborate with IT partners and different stakeholders to develop applied solutions. Our contribution to enhancing the functioning of the financial system using cutting-edge technologies really motivates me and makes me proud to be part of the BIS Innovation Hub family.

María Molero, Adviser, Eurosystem Centre