The Bank of England (BoE) has published a speech given by Charlotte Hogg, BoE Chief Operating Officer, on the progress of the BoE’s Fintech Accelerator.
In her speech, Ms Hogg highlights that the BoE appoints Fintech firms to run short proof of concept (PoC) projects in a number of BoE priority areas, giving those firms the opportunity to test their products in a live environment. At the end of the PoC, the BoE assesses the outcomes, writes case studies and where appropriate, proceeds with an open procurement.
In her speech, Ms Hogg also summarises the key elements of the PoC projects that have been completed or that are currently in progress. In particular, she notes the current work relating to data analytics and visualisation and work on technologies relating to cyber-security intelligence data. The BoE has opened its next call for applications for Fintech firms to apply to be involved in the Fintech Accelerator.
View BoE speech on Fintech Accelerator, 9 November 2016