Tagged: boe

Banking, Fintech Report Highlights UK’s Fast-Growing Financial Tech Space, while Challenges Include Centralized Cloud Providers

Payments specialist Banking Circle notes in a recent update on the payments, banking and Fintech space that there have been record-level investments in the UK’s vibrant Fintech sector, with $5.7 billion of VC invested across 317 deals so far in 2021. Banking Circle‘s CIO, Michel… Read More

Real Estate: UK Housing Prices Up 10.9% YoY in May 2021, the Largest Increase Since Aug 2014, New Report Reveals

The team at UK-based Blend Network, a peer-to-peer lending platform, notes that recent market developments in the United Kingdom have seen investors preparing for expected growth and may also want to watch out for inflation. As mentioned by Blend Network, headlines and concerns regarding inflation… Read More

UK Fintech Modulr Explains how they Helped Direct Lender Moneyboat Enhance its Operations

UK-based Fintech firm Modulr notes that direct lender Moneyboat had been quite frustrated by the limitations of the existing banking system. That’s why Moneyboat decided to leverage certain infrastructural Fintech payments solutions to provide faster onboarding, automated, real-time loan disbursements and “a superior customer experience,… Read More

UK Banks Say they Need to be “Liberated” to Invest in IT to Defend Against Fintech Challengers, Big Tech, US Banks

The Bank of England (BoE) is getting ready for its first major break from European Union regulations with a new proposal that might make bank capital rules a lot more strict in the UK (when compared to other jurisdictions). The European Banking Authority had noted… Read More

Bank of England Payments Policy Team Head Cordelia Kafetz to Join UK’s Digital Bank Starling as Head of Financial Risk

Cordelia Kafetz, who was responsible for helping to launch Bank of England’s (BoE) Fintech hub in 2018 and has also served in key roles as part of the Payments Policy Team, has reportedly decided to join UK’s digital bank Starling. Starling Bank has confirmed that… Read More

Fintech Mergers and Acquisitions May Increase in the UK following COVID, Linklaters Exec Predicts

The United Kingdom has maintained its status as a major global Fintech hub. But will the country be able to capture a significant share of the world’s financial technology business after Brexit and can it retain its dominant status despite the challenges created by the… Read More

CBDCs: New Report Confirms Most Reserve Banks Don’t Want to Use an Actual Blockchain to Issue Digital Currencies

Reserve banks in 46 countries are currently exploring or considering developing a central bank digital currency (CBDC) by using a permissioned (or private) distributed ledger technology (DLT)-based platform. This, according to a recently published survey from UK-based journal Central Banking. The publication is reportedly supported… Read More

Bank of England Says TFSME Will Open Sooner than Originally Announced

On March 10, 2020, the Bank of England, Monetary Policy Committee (MPC) voted to reduce Bank Rate and to introduce a new Term Funding Scheme with additional incentives for Small and Medium-sized Enterprises (TFSME). Today, the Bank is announcing that the TFSME will open for… Read More

Bank of England Is Looking for a Cloud Build Partner to be a Part of its One Bank Service Transformation Strategy

The Bank of England (BoE) is reportedly looking for a cloud build partner, which will be a part of its One Bank Service Transformation strategy. The UK’s reserve bank notes that it is planning to work with “an experienced partner to assist in design, construction… Read More

Bank of England and FCA to Introduce Artificial Intelligence and Machine Learning Forum

The UK’s Financial Conduct Authority (FCA) and the Bank of England (BoE) will reportedly be running a public/private forum that will go into the relevant technical and public policy issues related to bank adoption of artificial intelligence (AI) and machine learning (ML) technologies and software…. Read More

European Central Bank Publishes Paper on Advantages and Risks Associated with CBDCs

CBDCs Could Disintermediate in a Structural Way the Banking System. The European Central Bank (ECB) has published a paper on Central Bank Digital Currencies (CBDCs).  CBDCs are the state form of stablecoins – cryptocurrency based off a single asset like the Dollar, Euro or Pound… Read More

Regtech: NYDFS Is Reportedly Planning to Hire a Director to Help the Regulator Design, Implement, and Manage a Regulatory technology Platform

The New York Department of Financial Services (NYDFS), the financial and digital currency regulator for the state of New York, appears to be to developing regulatory technology (Regtech) solutions in order to enhance its existing oversight and supervising capabilities. The NYDFS is reportedly looking for… Read More

Bank of England Reports that Machine Learning Methods in Financial Services Could Enhance Business Processes

A report from the Bank of England (BoE) notes that the application of machine learning (ML) methods in the financial services sector could enhance routine business processes.  Improved software and hardware and increasing volumes of data have enhanced the pace of ongoing ML development, BoE’s… Read More

Hunt for New Governor of Bank of England Commences

Bank of England Governor Mark Carney is on his way out. Originally, Carney was expected to step down in June of 2019. At the request of the Chancellor of the Exchequer, Carney was asked to extend his term as the UK attempted to manage Brexit… Read More

Bank of England FMI Annual Report: The Growth of Fintech Continues to Have an Impact

The Bank of England (BoE) has published its Supervision of Financial Market Infrastructures (FMIs) – Annual Report. And inevitably buried within there are some interesting comments when it comes to innovations in finance. The Bank regulates FMIs in three broad categories: payment systems, central securities depositories… Read More

Bank of England, Bank of Canada & Monetary Authority of Singapore Join in Publishing Report on Payments and Possible Use of Blockchain

CROSS-BORDER INTERBANK PAYMENT AND SETTLEMENTS: Emerging opportunities for digital transformation Three governmental agencies have collaborated on a report pertaining to payments and settlements seeking to join in a push for a unified approach to this sector of Fintech. The Bank of England, Bank of Canada… Read More

Head of IMF Envisions a Future Without Banks as Fintech Takes Over

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

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