Brazil: Central Bank Announces Launch of 12 Financial Innovation Prototypes

On January 10, 2019, Banco Central do Brasil, the country's central bank, announced 12 prototypes of financial innovations that will be presented in March 2019. The prototypes have been designed by the Financial and Technology Innovation Laboratory (LIFT), which was originally launched by the central bank in May 2018 to promote innovative financial solutions while minimising the costs and increasing efficiency of the National Financial System (SFN).

From the design and development stage, only 18 out of 79 submitted projects were selected, which were related to blockchain technology, artificial intelligence and cybersecurity tools, among others.

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