Shaping the Bank for tomorrow

innovation

Innovation BIS 2025: the Bank's new medium-term strategy (video, 00:02:58)

General Manager Agustín Carstens discusses Innovation BIS 2025 - what it means, what's being done and what's to come. 

30 June 2019

Innovation BIS 2025 is our new medium-term strategy, designed to position the Bank for the opportunities ahead. It aims to build a stronger BIS that embraces continuous innovation on both the analytical and business fronts, while constantly improving what we do and how we do it, in a dynamic and vibrant work environment.

Our new strategy consists of a set of initiatives to build a forward-thinking and dynamic BIS that continuously deliver added value to our stakeholders and respond to their evolving needs amid rapid economic and technological changes.

In our role as a forum for international cooperation and knowledge-sharing, we will develop on multiple fronts.

  • Maintain a strong engagement with BIS committees and hosted associations in the context of the Basel Process.
  • Broaden our economic analysis and research to include new themes (eg the economic, financial and policy implications of technological innovation; monetary policy frameworks in advanced and emerging market economies).
  • Engage with central banks in the innovation space through a new multidisciplinary hub to explore the practical implications of new technological trends.
  • Develop capabilities in advanced analytics (eg big data) and new online tools for external collaboration, including for the compilation and dissemination of international statistics.
  • Establish new channels of knowledge-sharing among central banks in cyber security practices.
  • Enhance our Financial Stability Institute's work in capacity-building and knowledge-sharing, especially in technology-related topics and financial crisis management, to help supervisory authorities address ongoing and new supervisory challenges.
  • Deepen our global engagement, including through our two representative offices in the Asia-Pacific region and in the Americas.

In relation to our financial operations and the banking services we offer to central banks, we have plans in four key areas.

  • Improve the risk-return profile of our investments, both in terms of funds from our customers and our own capital.
  • Expand our range of products and services, including establishing a new dealing room in our Representative Office for the Americas.
  • Implement an updated financial risk management framework to allow us to maintain our prudent investment approach while diversifying the way we use capital in an efficient manner.
  • Review and upgrade the technology environment supporting our banking services.

To enable all front-line business units to work effectively and in line with the strategy's ultimate goals, we will have major undertakings in three areas.

  • Invest in next-generation technology to build a resilient and future-ready digital workplace for the organisation as a whole.
  • Align our people strategy and human resources management policies and practices with the evolving needs of the organisation.
  • Improve the way we work, emphasising dynamism, efficiency and individual accountability.