The Bank for International Settlements (BIS) is launching Project Inuksuit, which aims to explore whether AI-enabled analysis of approved public and open source data can give supervisors earlier or complementary visibility into risks affecting payment service providers (PSPs).
The project is a collaboration between the BIS Innovation Hub Toronto Centre and the Bank of Canada.
Project Inuksuit aims to test whether governed analysis of publicly available information can support supervisory monitoring of payment service providers between formal reporting cycles.
PSPs are increasingly central to retail payments. Their operating models are digital-first and highly visible through apps, websites, registries and partner ecosystems, and aspects of their risk profile can change quickly. Relevant developments are often first observable in public sources – official status pages, customer notices, app store listings, public registries and partner disclosures – but that information is fragmented, unevenly reliable and difficult to consolidate across firms.
The project will develop a bounded proof of concept that retrieves approved public sources, detects material change and produces structured evidence packs showing provenance, corroboration and calibrated uncertainty for analyst review. It will examine four domains grounded in retail payment supervision mandates: authorisation status and public representations, safeguarding and access to funds, operational disruption and publicly observable dependency concentration. Because the workflow operates on public content, it will also test how the system handles information that is inaccurate, misleading or designed to manipulate automated analysis.
Project Inuksuit is designed as an early indication and prioritisation layer supporting analyst judgment, not a substitute for verified supervisory findings.