Bank of England recruits fintech firms to ramp up cybersecurity drive 

  • Claire Sunderland Hay said the Bank of England is working on ways to alert banks and other finance firms about cyberattacks in real time
  • “Fintech is the opportunity to build European champions, which banks have not managed in 300 years.
  • Anthony Olsen from money transfer firm Remitly said he is particularly worried that firms licensed in the UK will lose their EU passporting rights to do business across the bloc.
  • Officials are getting financial technology (fintech) firms into Threadneedle Street to work on ways to use new systems to combat fraud.
  • Bank of England recruits fintech firms to ramp up cybersecurity drive

The Bank of England is working on new ways to warn banks and other finance firms about cyberattacks in real time, so the City of London can put its defences on full alert against online fraudsters and saboteurs, the central bank’s top fintech executive has revealed.
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