UK regulators take aim at banks’ IT failures
The FCA, PRA and Bank of England have published a paper on operational resilience
The FCA, PRA and Bank of England have published a paper on operational resilience
Firms would like to see more guidance around ML regulations.
The new polymer note will be the first to utilise two transparent windows.
It features five key action plans to meet the needs of the digital age.
The bank’s action follows the pan-European incident in June 2018.
However, a no-deal situation could leave the UK economy worse off than the 2008 recession.
The boom in fintech investment should not be taken for granted.
Bank of England says responses to messaging standard were “largely supportive”.
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Central banks and regulator reveal heightened interest and assesses alternative models.
The panel will input into the implementation of ISO 20022.
Readying for resilience in a risky world.
Its “Vision 2030” looks at the future of finance across the nation.
Bank of England chief economist warns against job displacements.
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
DLT-based settlement with central bank money is alive and kicking.
BoE, PRA and FCA call for feedback from firms and financial market infrastructures.
Domestics risks, other than Brexit, remain low.
The central bank digital currency (CBDC) begins to take shape.
First non-bank payment service provider to directly access system.
News revealed at yet another fintech conference in London.
He’s changed his tune.
BoE-ring! Carney joins critical-of-cryptocurrencies crowd.
Resolves technology communications problems following a regular internal IT update.
It’s been a good year for banks as in a first since the launch in 2014, the (BoE) reveals that no bank needed to strengthen its capital position as a result of its latest stress test.
The Bank of England (BoE) has unleashed a cybersecurity challenge for the young at heart as it seeks to maintain monetary and financial stability. It cites recent cyberattacks on high-profile systems and organisations such as the Bank of Bangladesh as something to be wary of. To that end, it’s calling for people to: “Think big. […]
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.
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 […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
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), […]
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 […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
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 […]
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 […]
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 […]
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 […]
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy. Last week, […]
Royal Bank of Scotland (RBS) has failed a Bank of England (BoE) stress test on how it would cope with another financial crisis. Two other banks – Barclays and Standard Chartered – also failed on some measures but do not have to submit revised capital raising plans. The tests were put in place by BoE […]
If central banks want to retain a large share of payments in central bank money, they must innovate, said Andrew Hauser, executive director for banking, payments and financial resilience, Bank of England (BOE). Speaking during the Towards a single platform for all payments session, he said BOE consultation on a refresh of its real time […]
The Bank of England (BoE) has published a consultation paper on the next generation real-time gross settlement (RTGS) service. On the way out is the bank’s legacy 20-year old platform. The BoE is calling on the payments industry specialists to get in touch.