Bank of England
Fintech Hub
Our work on fintech is wide ranging and looks at how technology is changing financial services.
Related links
Fintech proofs-of-concept
Digital Currencies
Why we are interested in how technology is changing financial services
Developments in financial technologies, such as artificial intelligence (AI) and distributed ledger technology (DLT), have the potential to fundamentally change the way businesses can provide – and consumers can use – financial services.
In his speech on The Promise of Fintech our Governor, Mark Carney, said “there are clear prospects for new financial technologies to make the financial system more efficient, effective and resilient.”
We take a keen interest in exploring how innovation and developments in fintech might support our mission to promote the good of the people of the UK by maintaining monetary and financial stability.
In particular, we seek to understand what fintech means for the stability of the financial system, the safety and soundness of financial firms, and our ability to perform our operational and regulatory roles.
Scales
Understanding how fintech developments may affect systemic stability.
Padlock
Understanding how fintech developments may affect the safety and soundness of firms.
bank
Applying fintech, where appropriate, to enhance our capabilities.
Our Fintech Hub brings together all of our work in this area. Sir Dave Ramsden, our Deputy Governor for Markets and Banking, spoke about the importance of being open to fintech when he launched the hub.
If you would like to get in touch, you can reach us at fintech@bankofengland.co.uk
You can also find out more about our related work on digital currencies.
Working with fintech firms
We started our proofs-of-concept programme in 2016 under our Fintech Accelerator project. We will continue to work with businesses on fintech proofs-of-concept on occasions when it might help us to meet our mission.
Find out about the proofs-of-concept we have worked on.
Fintech firms offering financial services in the UK
If you are a fintech firm thinking of providing financial services in the UK, you may need to be regulated.
The Bank of England is responsible for supervising financial firms such as banks, building societies, credit unions, major investment firms and insurers. And we provide information and support for businesses that are thinking of setting up a new bank in the UK.
We also supervise financial market infrastructure and we act as settlement agent for payment systems.
Financial services in the UK are also regulated by the Financial Conduct Authority and UK payment systems are also regulated by the Payment Systems Regulator.
Fintech publications and speeches
// Speech // Dave Ramsden
Dave Ramsden
22 March 2018
The Bank of England - Open to Fintech - speech...
// Speech // Mark Carney
Mark Carney
02 March 2018
The Future of Money - speech by Mark Carney
// Speech // Jon Cunliffe
Jon Cunliffe
26 February 2018
Looking after our money - speech by Jon Cunliffe
// Prudential Regulation // Consultation paper
CP5/18 - Algorithmic trading
12 February 2018
Algorithmic trading
View more
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This page was last updated 11 April 2018
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