This is a significant milestone for us. The Bank for International Settlements – BIS – often referred to as the central bank of central banks – plays a crucial role in shaping global anti-financial crime strategies, particularly through the work of the BIS Innovation Hub.
The challenge brought together private and public sector firms as well as academic researchers to propose collaborative technology solutions to combat financial crime and simplify compliance.
During the challenge, Evaldas Kazlauskas, representing AMLTRIX, demonstrated the new AML/CFT framework and the opportunities our open adversarial framework creates to drive AML/CFT innovation, and shared our vision for the future of the initiative.
We’re thankful to BIS for the opportunity and the insightful feedback received. We encourage other AML/CFT innovators to take part in future challenges – the experience, dialogue, and expert input are incredibly valuable.
About the challenge
The BIS Innovation Hub invites innovators from around the world to join its challenge, aimed at developing cutting-edge technology solutions to fight financial crime and enhance trust in the global financial system.
With financial institutions facing trillions in losses from fraud and illicit finance, this initiative seeks to harness AI, privacy technology, and data analytics to detect and prevent criminal activity.
Finalists showcase their ideas to central banks and industry leaders in London, with the chance to collaborate with the BIS on real-world applications.
More information about the challenge available here
