17 SEPTEMBER 2019

Dave Ramsden speaks about the importance of new technology in the financial services industry and launches the bank’s new Fintech Hub.

The Bank of England launches a new Fintech Hub

March 22, 2018

Dave Ramsden speaks about the importance of new technology in the financial services industry and launches the bank’s new Fintech Hub.

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.

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.

To find out more, please visit: digital currencies

Source: Bank Of England