Tagged: bank of england

March 22, 2018 @ 4:52 pm By JD Alois  |  

Dave Ramsden, Deputy Governor of Bank of England, addressed the topic of Fintech within the Bank in a speech today. The presentation saw the banker announce a new Fintech Hub within the Bank following the success of its internal Fintech Accelerator; “We are now looking… Read More

March 19, 2018 @ 8:48 am By JD Alois  |  

The Financial Stability Board (FSB), the international body that monitors and makes recommendations about the global financial system, has published its assessment of risk in advance of the upcoming G20 meeting which will take place in Buenos Aires today and tomorrow. The FSB is chaired by… Read More

March 16, 2018 @ 6:41 am By JD Alois  |  

The Bank of England, Financial Policy Committee (FPC), is out with their statement from the meeting on March 12th regarding the outlook for UK financial stability risks. Included within the statement is a comment on crypto-assets. The Bank states: The Committee recognises the potential benefits… Read More

March 13, 2018 @ 7:06 pm By JD Alois  |  

Rise of the CBDC Coin? Perhaps. The Bank for International Settlements have added their $0.02 to the discussion in a recently published paper from the Committee on Payments and Market Infrustructure, Markets Committee. The report entitled Central Bank Digital Currencies (or CDBCs) is the work… Read More

March 2, 2018 @ 12:43 pm By JD Alois  |  

As reported earlier today, Mark Carney, the Governor of the Bank of England, delivered a speech today address the rise of cryptocurrencies and the future of money. In Carney’s opinion, cryptocurrencies are “failing as money.” He outlined his opinion why crypto, including Bitcoin, simply does… Read More

March 2, 2018 @ 8:48 am By JD Alois  |  

What is money? In The Wealth of Nations, Adam Smith defines money by the roles it plays in society, in particular, how well it serves as: –  A store of value with which to transfer purchasing power from today to some future time; –  A… Read More

January 1, 2018 @ 7:25 pm By JD Alois  |  

2018 is here and 2017 is in the rear view mirror getting smaller by the minute. In the world of Fintech, the past twelve months have been momentous as new innovations in finance have risen in prominence while others, once promising, have waned. So what… Read More

December 20, 2017 @ 7:39 am By JD Alois  |  

Tandem, a digital challenger bank, has received regulatory approval from the Bank of England’s Prudential Regulatory Authority to acquire Harrods Bank. Tandem’s purchase of Harrods Bank is being described as a major step forward as Tandem will gain access to a full banking license, intrinsic… Read More

October 6, 2017 @ 8:35 am By JD Alois  |  

Andrew Hauser, the Executive Director of Banking, Payments and Financial Resilience from the Bank of England, delivered a speech today explaining why “this time is different.” His statement reflected on detractors who criticize Fintech as more of the same. Sure, ATMs came along and they were… Read More

October 6, 2017 @ 7:58 am By JD Alois  |  

The Bank of England has published an update on their FinTech Accelerator program announcing the latest cohort of proofs of concepts along with a status report. The news shared as part of a speech by Andrew Hauser, Executive Director for Banking, Payments and Financial Resilience delivered… Read More

October 5, 2017 @ 10:02 pm By JD Alois  |  

Late last month, Christine Lagarde, International Monetary Fund Managing Director, delivered a speech in the UK envisioning a future without banks. Now Lagarde did not say banks will no longer exist but she stepped up to the precipice of the death of banking stating there… Read More

September 10, 2017 @ 3:40 pm By JD Alois  |  

Earlier this month, the Bank of England published a staff working paper entitled, “Competition and prudential regulation”. The document is the work of Paul Fisher, former Deputy Head of the Prudential Regulation Authority (PRA) and Executive Director for Supervisory Risk and Regulatory Operations, and Paul A Grout,… Read More

July 19, 2017 @ 7:22 am By JD Alois  |  

​The Bank of England has announced that non-bank payment service providers (PSP) are now eligible to apply for a settlement account in the Bank’s RTGS or Real Time Gross Settlement system. For Fintech firms, holding their own settlement account at the Bank enables direct access… Read More

July 17, 2017 @ 9:47 am By JD Alois  |  

On 16 November, for Future Forum 2017, the Governor, Deputy Governors and Chief Economist will spend the day in and around Liverpool, meeting with a wide cross-section of the public.  We’ll be talking about economics and the economy and explaining to people how the financial… Read More

July 10, 2017 @ 12:39 pm By JD Alois  |  

  The Bank of England has has published summaries of the third round of Proofs of Concept (POCs) completed by its Fintech Accelerator. Launched a year ago, the Accelerator seeks to deploy innovative technologies on issues relevant to the Bank’s mission and operations. The Bank… Read More

June 1, 2017 @ 12:07 pm By JD Alois  |  

The Bank of England is out with some data on the Funding for Lending Scheme (FLS). The FLS seeks to encourage more lending to the UK economy than would have been the case in the absence of the plan.  The current Extension allows participants to… Read More

April 17, 2017 @ 2:00 am By JD Alois  |  

Last week at the International Fintech Conference in London, Mark Carney, Governor of the Bank of England, delivered a speech on what he and the bank is doing to assure that Fintech innovation survives in the world’s leading Fintech Hub. Carney is an early convert… Read More

March 17, 2017 @ 11:35 am By JD Alois  |  

The Bank of England Fintech Accelerator has launched a new community designed to bring Fintech companies and organizations together to engage with the bank.  The community will better allow the Bank to share ideas and insights while the Bank supports the development of the Fintech sector…. Read More

January 25, 2017 @ 11:00 pm By JD Alois  |  

The current Governor of the Bank of England, Mark Carney, has engendered much respect from the land of Fintech. An unabashed supporter of the potential for financial innovation to improve financial services for all, Carney has periodically addressed the subject of Fintech with pointed speeches…. Read More

November 11, 2016 @ 3:26 pm By JD Alois  |  

In a speech this past week by Charlotte Hogg, Chief Operating Office of the Bank of England, she welcomed the launch of the Bank’s Fintech Accelerator while explaining their mission. Hogg stated; “We set up the Bank’s Fintech Accelerator in the Bank, launched in June… Read More