Bank of EnglandRSS

Central banking and fintech: a brave new world?

Christine Lagarde, IMF

This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.

UK to get New Payment Systems Operator by year’s end

PSR calls for more competition in payments

The Payment Systems Regulator (PSR) and Bank of England (BoE) have revealed that the UK will be getting the New Payment Systems Operator (NPSO) by the end of 2017. The duo says that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver what was asked and so with the NPSO […]

Top fintech stories this week – 21 July 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Bank of England opens up RTGS service to fintech competition

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The Bank of England (BoE) is opening up access to settlement accounts in its real-time gross settlement (RTGS) system with the goal to promote fintech innovation and competition. The bank says it’s extending access to non-bank payment service providers (PSPs), offering direct access to the UK’s sterling payment systems. The UK’s Financial Conduct Authority (FCA), […]

Bank of England fintech accelerator goes into third gear

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The Bank of England’s (BoE) fintech accelerator has kept good speed and completed the third round of various proofs of concept (PoCs). As reported last year, BoE launched its own accelerator to harness innovation for central banking. The latest PoCs covered four areas of the bank’s work: analysing large-scale supervisory data sets; executing high-value payments […]

Top fintech stories this week – 12 May 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Bank of England unveils blueprint for new RTGS service

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The Bank of England (BoE) has released its blueprint for a renewed real-time gross settlement (RTGS) service for payments in the UK – with plans to interface with blockchain and deal with APIs. On an average day, BoE says RTGS settles around £500 billion between banks – around a quarter of the UK’s annual GDP […]

Top fintech stories this week – 14 April 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]

Bank of England implicated in Libor rigging by secret recording

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A secret recording that implicates the Bank of England (BoE) in Libor rigging has been uncovered by the current affairs programme, BBC Panorama. Libor (London Interbank Offered Rate) is used by banks to set prices of financial products. Last year, several ex-Barclays workers were found guilty of manipulating the Libor interest rate between 2005 and […]

Bank of England teams with Ripple for cross-border payments

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The Bank of England’s (BoE) fintech accelerator has teamed with Ripple for a cross-border payments proof of concept (PoC). As Banking Technology reported last year, the accelerator was set up to harness innovation for central banking. In this latest development, the PoC with Ripple is intended to demonstrate the synchronised movement of two different currencies […]

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