FIN.

BoE reviews FinTech Accelerator progress

Andrew Hauser, Executive Director for Banking, Payments and Financial Resilience, has commented on the work of BoE’s FinTech Accelerator programme since its launch in June 2016. The programme sought to improve BoE’s understanding of FinTech products and firms, and also to give these firms an insight into the questions and needs central banks might have, as policymakers, regulators and operators. 200 firms have joined since the programme’s launch, and in the next year and a half, 13 proofs of concept (PoCs) will have been completed, focusing on distributed ledger technology, large-scale data storage and analysis, machine learning and cyber security.

Hauser noted that deepening connections with firms in sectors beyond the regulatory perimeter has exposed bankers to more agile, experimental ways of thinking and working. Conversely, firms have appreciated insights into the broader application of their technologies.

Finally, the latest cohort of PoCs was announced:

  • Chain
  • NTT DATA and Reportix
  • MindBridge Analytics Inc
  • Digital Reasoning

More information on these PoCs is available on the programme’s website.

FIN. Team