The Bank of Mongolia Wins the Central Banking FinTech RegTech Global Awards: The Pioneer Award
The Bank of Mongolia received “The Pioneer Award” at the “FinTech RegTech Global Awards,” presented by Central Banking Institute, in London on June 14, 2023.
The Bank of Mongolia was named the winner of the award for its pioneering implementation of a big data system that collects statistical data and reports from commercial banks in a unified format at high frequency. The project was implemented with financing from the Asian Development Bank under the “Payment System Modernization Project.”
The installation and development of the big data system was carried out in cooperation with the national company Novelsoft. The implementation of a system for collecting statistical data and reports from banks in a unified format at high frequency was considered a pioneering initiative among central banks globally, qualifying it for the award.
The “Central Banking FinTech RegTech Global Awards” highlight outstanding innovations introduced by central banks, regulatory authorities, and companies offering technology solutions. The 2023 awards recognized winners in 11 categories, including cybersecurity, innovation in central bank digital currency ecosystems, artificial intelligence regulation, and anti-money laundering reforms. These included:
Central banks and regulatory authorities:
- “The Global Impact” Award: Bank of Lithuania
- “The Pioneer” Award: Bank of Mongolia
- “CBDC Initiative” Award: National Bank of Georgia
- “Cyber Resilience Initiative” Award: Central Bank of the Philippines
- “Artificial Intelligence” Award: European Central Bank
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