The Central Bank of Ireland ("CBI")
inaugurated its Innovation Hub ("Hub") in April 2018
"to enable open and active engagement" with firms and
stakeholders involved in developing financial services technology,
by providing a direct, less formal, line of communication to the
CBI.
We discussed the Hub post launch here. The CBI has recently published its
'Innovation Hub 2019 Update', which
tracks the Hub developments from its establishment through to the
end of 2019. A further progress update is expected in early
2021, which will no doubt be impacted by developments in relation
to COVID-19.
What is the Hub?
The Hub is part of a trend of measures among regulatory
authorities aimed at promoting innovation in financial services,
which range from more or less formalised industry dialogue
programmes to sand-box type environments. The Hub is mutually
beneficial to industry and the CBI. It gives new entrants and
existing operators the opportunity to ask questions and
