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.
The Bank of England's new fintech accelerator is already bearing fruit. Following a successful proof-of-concept, one of the participants, Anomali, has been enlisted to help the bank monitor and mitigate cyber threats.
The founder and CEO of online investment manager Scalable Capital has lashed out at the Governor of the Bank of England Mark Carney, accusing him of a "deep miscalculation of priorities" for singling out robo-advisory services as a potential force for future financial instablity.
The UK treasury is set to roll out a new £1 coin in late March which it claims is the most resistant to counterfeiting ever produced.
We are aware of some people’s concerns about traces of tallow in our new five pound note. We respect those concerns and are treating them with the utmost seriousness.
The Bank of England is using its new fintech accelerator to work with startups on developing proof-of-concepts (POCs) in data analytics, information security and distributed ledgers.
Bank of England officials will be sitting on the sidelines as 42 of the UK's most talented amateur cyber security enthusiasts lead the defence against a simulated computer attack on a fictional energy company.
The amount of cash circulating in the UK economy is twice the level of a decade ago, says the Bank of England in a Knowledge Bank primer on the introduction of new plastic banknotes.
© Finextra Research 2017