Bank of England FinTech Accelerator launches new community and latest proofs of concept
17 March 2017
The Bank of England‘s Fintech Accelerator has launched a new community which brings together fintech-related organisations.
The community has three aims:
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To share developments, trends and insights.
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To make sure the Bank is engaging with different fintech firms from across the sector.
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To enable firms with an interest in fintech to network, supporting the development of the sector.
Community members will be invited to meet Bank of England (BoE) two to four times a year to share updates on trends and developments in the sector. BoE will also hold quarterly networking and knowledge-sharing events, and publish summaries of the topics discussed.
Latest fintech proofs of concept announced
BoE has also decided on the firms we will be working with for our latest proofs of concept:
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MindBridge’s AI (artificial intelligence) - auditor detects anomalies in financial transactions and reports using data science, machine learning and artificial intelligence. BoE is using it to explore the benefits of machine learning for analysing the quality of regulatory data input.
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Ripple – BoE is carrying out a proof of concept with Ripple to demonstrate the synchronised movement of two different currencies across two different real-time gross settlement systems. The aim is to show how this kind of synchronisation might lower settlement risk and improve the speed and efficiency of cross-border payments.
Press release
© Bank of England
