Home News Banking & finance

BIS Innovation Hub and MAS launch Project Ellipse

Goola Warden
Goola Warden3/31/2022 1:2 PM GMT+08  • 2 min read
BIS Innovation Hub and MAS launch Project Ellipse
BIS Innovation Hub and MAS launch Project Ellipse, an integrated regulatory data and analytics platform
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

On March 31, 2022, the Bank of International Settlements (BIS) and the Monetary Authority of Singapore announced that the BIS Innovation Hub Singapore Centre and MAS have developed a new prototype platform that integrates regulatory data and analytics. Known as Project Ellipse, the platform successfully demonstrates how regulatory and other data, such as articles and news, can be integrated into a single platform to help regulatory authorities identify potential risks to individual banks and the banking system. To enable collaboration, the BIS will launch an Ellipse collaboration community to share, further test, customise and scale this solution across regulatory authorities around the world. The Ellipse prototype is the first to be published on BIS Open Tech, a new platform for sharing statistical and financial software as public goods, thereby promoting international cooperation and coordination.

“Regulators need accurate and timely information to assess emerging risks and to make informed supervisory decisions. Project Ellipse has now developed a potential tool for the global regulatory community to further explore and collaborate on common solutions that can improve the data and analytical capabilities of regulatory authorities It has the potential to be a game – changer by giving supervisors access to more and better data, structured and unstructured, with greater predictive insights than ever before, it can be scaled to provide reatime analysis on a national or cross border supervisory basis,” said Ross Leckow, Acting Head of the BIS Innovation Hub.

“Recent technological advancements have opened up possibilities for supervisors to leverage on more granular, timely and varied datasets to significantly improve supervisory effectiveness. Project Ellipse clearly demonstrates that collection and use of such datasets need not be prohibitive, but can be codified, efficient, cost effective and potentially scalable even on a cross border basis. MAS is adapting the prototype for our own supervisory needs. I hope other supervisors will similarly find it useful and look forward to further joint initiatives to develop common SupTech solutions for supervisors,” said Hern Shin Ho, Deputy Managing Director (Financial Supervision), MAS

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now