Bank of England to test resilience of Britain’s financial system to a major cyber attack

Bank of England along with the finance ministry and the Financial Conduct Authority are slated to run a test today to gauge the resilience of the country’s financial sector against a major cyber attack. Britain’s central bank has disclosed, it will carry out a test on Friday to gauge the ability of the financial sector…

Banks should deepen their commitment to instant payments to avoid alternatives such as Bitcoin: ECB’s Yves Mersch.

Although crypto currencies are yet to go mainstream, the fantastic appreciation of the value of the Bitcoin is pushing many central banks to issue their own digital currency. On Thursday, Yves Mersch, a member of the European Central Bank’s executive board stated, if banks were to speed up the introduction of instant payments it would…

Britain tries to maintain its financial edge by promoting growth of fintech companies

Britain is likely to see an increase in the number of Payment Service Providers in 2018. In a move designed to boost the growth of fintech companies, Britain’s central bank, the Bank of England has widened access to Britain’s interbank payments system to new fintech firms, an area that was previously dominated by the “Big…