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Home > News and Publications > Bank of England FinTech Accelerator launches new community and latest proofs of concept
 

Bank of England FinTech Accelerator launches new community and latest proofs of concept

17 March 2017

​Press release


Our FinTech Accelerator has launched a new community which brings together FinTech-related organisations. 

The community has three aims:

1. To share developments, trends and insights.
2. To make sure the Bank is engaging with different FinTech firms from across the sector.
3. To enable firms with an interest in FinTech to network, supporting the development of the sector.

Community members will be invited to meet us two to four times a year to share updates on trends and developments in the sector. We will also hold quarterly networking and knowledge-sharing events, and publish summaries of the topics discussed.

See a full list of community members and the terms and conditions of membership

Latest FinTech proofs of concept announced

We have also decided on the firms we will be working with for our latest proofs of concept:

MindBridge AI

MindBridge’s AI (artificial intelligence) auditor detects anomalies in financial transactions and reports using data science, machine learning and artificial intelligence. We are using it to explore the benefits of machine learning for analysing the quality of regulatory data input.

Ripple

We are 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.

Our next call for applications to the accelerator will open in Spring 2017. Read more about the accelerator’s work so far.  

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