Tag: Bank of England
Bank of England leads major resilience test to safeguard UK economy
The Bank of England, alongside UK Finance and various other financial authorities including HM Treasury and the Financial Conduct Authority, recently spearheaded a critical simulation known as SIMEX 24.
How digital innovation and sustainability are shaping wealth management
During the third quarter of 2024, the wealth management sector witnessed shifts, heavily influenced by sustainability, digital innovation, and regulatory adjustments.
UK InsurTech funding doubled in 2023 defying global trends
UK InsurTech investment stats in 2023:
• UK InsurTech companies raised a combined $395m in 2023, a 43% increase from 2022
• UK InsurTech deal activity...
Bank of England to assess AI’s impact on financial stability in...
The Bank of England will conduct an assessment next year regarding the risks associated with AI and machine learning in FinTech.
UK-based digital bank Kroo surpasses £1m crowdfunding goal
Kroo, a fully licenced UK bank known for its digital banking services, surpassed its crowdfunding target, amassing over £1 million in investments.
Bank of England and BIS unveil CBDC project
The Bank of England and the Bank of International Settlements (BIS), has successfully completed a collaborative project regarding CBDC.
UK banking licence eludes Revolut amidst financial scrutiny and executive exodus
The Bank of England is reportedly on the brink of dismissing Revolut's persistent bid for a UK banking licence
Bank of England heads simulation to test UK financial sector resilience
The Bank of England has partnered with HM Treasury and the Financial Conduct Authority to undertake a two-day simulation exercise.
Are regulatory constraints hindering machine learning development?
A Bank of England survey has found UK financial companies blame a lack of regulatory clarity and legacy systems for hampering the deployment of machine learning technology.
Bank of England could face showdown with Truss over EU rulebook...
The EU is planning to ease its own Basel rulebook and diverge in certain areas, meaning UK banks could be forced to implement tougher standards, TBC UK has claimed.
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