August 2024: Top five payments stories of the month
FinTech Futures takes a look back at five of the top payments stories in August.
Bank of England
June 2024: Top five fintech partnership stories of the month
FinTech Futures takes a look back at five of the top fintech partnership stories of the month.
BIS and Bank of England team up to evaluate synchronised settlement in FX transactions
The initiative is scheduled to commence towards the end of 2024.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
UBS to pay $388m in fines relating to Credit Suisse’s doomed dealings with Archegos
The US Federal Reserve has fined Credit Suisse $269 million, with the UK’s PRA issuing a further $119 million fine.
Thieves make away with $20m from Revolut following payment flaw
Flaws in its US and European payment systems meant that some declined transactions were wrongly refunded.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
HSBC snaps up beleaguered Silicon Valley Bank UK for £1
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
FinTech Futures: Top five stories of the week – 10 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FinTech Futures: Top five stories of the week – 15 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
2021: Top five movers and shakers
FinTech Futures takes a look back at some of the year’s seminal hires and appointments.
Sibos 2021: Banks must work together to make the most of CBDCs, says panel
Panel says interoperability of CBDCs is necessary to avoid inefficiencies and poor outcomes.
Bank of England apologises for role of former governors linked to slave trade
British taxpayers have been paying off slave owners from 1833 to 2015.
UK banks capable of surviving a “no-deal” Brexit
However, a no-deal situation could leave the UK economy worse off than the 2008 recession.
Top fintech stories this week – 16 November 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Canada, UK and Singapore prep for blockchain-powered payments
Central banks and regulator reveal heightened interest and assesses alternative models.
Top fintech stories this week – 27 July 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Central banking and fintech: a brave new world?
This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilising force for the UK economy, inspiring others in the world of central banking.
Top fintech stories this week – 21 July 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Top fintech stories this week – 14 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Mastercard gets approval to buy VocaLink for $920m Deal expected to close in coming weeks. Bank of England implicated in Libor rigging by secret recording Well, it was secret. FIS sheds Ambit Private Banking business FIS inherited it […]
The Monday mindset: 30 January 2017
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy. Last week, […]
Sibos 2016: central banks must innovate to stay relevant
If central banks want to retain a large share of payments in central bank money, they must innovate, said Andrew Hauser, executive director for banking, payments and financial resilience, Bank of England (BOE). Speaking during the Towards a single platform for all payments session, he said BOE consultation on a refresh of its real time […]
Bank of England to overhaul RTGS service, issues consultation paper
The Bank of England (BoE) has published a consultation paper on the next generation real-time gross settlement (RTGS) service. On the way out is the bank’s legacy 20-year old platform. The BoE is calling on the payments industry specialists to get in touch.
Swift Business Forum London 2016: Blockchain – a reconciliation revolution
Blockchain is a revolution in reconciliation but not in payments, is one of the messages coming out of the Swift Business Forum London 2016. For the sixth edition of the show, more than 1,300 delegates were rammed and jammed into Tobacco Dock, London. This morning’s (20 April) sessions were dominated by warm-up speeches that praised […]
Industry bodies look to harmonise ISO 20022 real-time payment implementation
Global interoperability of real-time payments systems will require harmonisation of market practices and standards. A group of international clearing houses, banks, vendors, payments associations and other parties have proposed setting up an activity to look at how to deliver this under the aegis of the International Standards Organisation – and set an ambitious target of collating an initial variant of ISO 20022 usage guidelines for real-time payments before the summer.
Bank of England CIO: ‘think twice about cost, security, data sovereignty in the cloud’
Firms looking to adopt cloud-based services should consider the security and data privacy implications associated with moving critical systems into the cloud, and not let vendors drive their technology strategies for them, according to Bank of England CIO John Finch.
New CHAPS mechanism reduces intraday liquidity demands on members
A new Liquidity Savings Mechanism for CHAPS clearing members is showing significant improvement in liquidity efficiency after its first two months of operation. Members of the CHAPS Clearing Company, the organisation responsible for the operation of the UK’s same-day high-value payment system, began using the new LSM in April. Developed by the Bank of England, […]
FSA’s swansong opens a fast track for new entrant banks
In future, the possibility of a bank failure will be accepted as a normal market process, and barriers to entry for new start-ups, including a removal of capital requirement obstacles, will be removed, the Financial Services Authority and the Bank of England have confirmed.
