Group items tagged

The Bank for International Settlements (BIS) launched Project Aperta (Latin for "open") to explore how to reduce frictions and costs in global finance by enabling seamless cross-border data portability. The project aims to connect the domestic open finance infrastructures of different jurisdictions. The initial use case to be explored is in trade finance for small and medium-sized enterprises (SMEs), with many more applications to follow. Project Aperta collaborators include the Central Bank of the United Arab Emirates, the Banco Central do Brasil, the U.K. Financial Conduct Authority , the Hong Kong Monetary Authority, and the Global Legal Entity Identifier Foundation.