Why we are interested in how technology is changing financial services
Developments in financial technologies (fintech), such as artificial intelligence (AI) and distributed ledger technology (DLT), have the potential to fundamentally change the way businesses can provide – and consumers can use – financial services.
In his speech on The Promise of Fintech our Governor, Mark Carney, said “There are clear prospects for new financial technologies to make the financial system more efficient, effective and resilient.”
We take a keen interest in exploring how innovation and developments in fintech might support our mission to promote the good of the people of the UK by maintaining monetary and financial stability.
In particular, we seek to understand what fintech means for the stability of the financial system, the safety and soundness of financial firms, and our ability to perform our operational and regulatory roles.