Designated central banking field or a central bank area that is related to the topic of the course. Our level I courses in 2019 – Banking supervision within the Basel framework – Course level I – Financial stability, systemic risk and macropruden-tial policy – Course level I. Protect the things you have and the people you love.
Our work on fintech is wide ranging and looks at how technology is changing financial services.
Why we are interested in how technology is changing financial services
Developments in financial technologies (fintech), 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.
Understanding how fintech developments may affect systemic stability.
Understanding how fintech developments may affect the safety and soundness of firms.
Applying fintech, where appropriate, to enhance our capabilities.
Our Fintech Hub brings together all 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 [email protected]
You can also find out more about our related work on digital currencies.
Future of finance
In his Mansion House speech in June 2018 our Governor, Mark Carney, outlined that “a new economy, a new world and new demographics demand a new financial system” and that the Bank is creating the new hard and soft infrastructure that the new finance will require.He has appointed Huw van Steenis to lead a project on the future of finance, exploring what the financial system of tomorrow might look like, including fintech developments, and what it means for the Bank of England’s priorities now and in the future.
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Working with fintech firms
We started our proofs-of-concept programme in 2016 under our Fintech Accelerator project. We'll continue to work with businesses on fintech proofs-of-concept whenever this may help us fulfil 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.