Branchless CivilisedBank has received a licence from the Bank of England ahead of a planned launch early next year.
Bank of England governor Mark Carney is the latest top banker to have fallen victim to an e-mail prankster, joking with the culprit about the drinking habits of former governor Eddie George.
The Bank of England is to take over the direct running of the UK's Chaps high value payment system as part of a blueprint for a rebuild of its real-time gross settlement platform to accommodate new market entrants and a future-proofed interface to distributed ledger technology.
The UK's Payment Systems Regulator and the Bank of England have agreed a framework for the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme.
The Bank of England is inviting applications for its latest accelerator project with an emphasis on conducting proofs of concept around machine learning and privacy in distributed ledgers.
A London-based start-up claims it is the first shariah-compliant fintech to be given regulatory approval in the UK.
The Bank of England is mulling over whether to jump out of the frying pan and into the fire, replacing the use of animal fat in polymer bank notes with environmentally controversial palm oil.
The Bank of England's fintech accelerator programme has launched a new community forum for innovation talks and two new proof of concept trials exploring the use of AI and distributed ledgers.
Economic arguments that the use of new technologies and artificial intelligence will lead to a reallocation of human labour to more productive tasks could be seriously wide of the mark, argues a staff paper on the Bank of England's unofficial Undergound blog, which holds out the possibility that millions of jobs may be at risk in the forthcoming 'Fourth Industrial Revolution'.
The Bank of England is to maintain production of polymer-based £5 and £10 notes, despite protests from vegetarians and vegans over the use of animal fat in the new plastic money.
© Finextra Research 2017