BoE Prioritizes Fintech Push But Mindful Of Risk, Official Says

Law360, London (April 30, 2019, 3:58 PM BST) -- The Bank of England stands ready to adopt new emerging technology, a senior figure said Tuesday, while acknowledging the bank would have to keep a close eye on the fast-growing sector to ensure financial activity does not move into unregulated areas.

BoE deputy governor Dave Ramsden, speaking in London at a conference on innovation, said the central bank was “embracing fintech,” which he said has the potential to revolutionize work and commerce, and that adapting to changes in technology is one of the bank’s seven strategic priorities for 2019.

But Ramsden, who heads up the BoE’s fintech hub, warned that emerging...

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