The Old Lady is launching a financial technology accelerator
The Bank of England is launching a FinTech
accelerator to work with financial technology firms and harness
technological innovations for central banking.
"To its advocates, the wave of innovation
sweeping through the world of financial technology promises
nothing short of revolution. 'FinTech’ heralds the
dawn of narrow banking and portfolio optimisation. It will
change the nature of money, shake the foundations of central
banking and deliver nothing less than a democratic revolution
for all who use financial services. Revolutions are not always
abrupt, and sometimes their origins remain obscure," governor
of the Bank of England Mark Carney said.
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