Bank of England aims to boost fintech sector

Governor Mark Carney highlights importance of financial technology and its potential role in managing economy

The Bank of England plans to encourage innovation in financial technology by collaborating with companies which are designing innovative payment systems and cybersecurity, to further build on Bitcoin's blockchain concept.

Mark Carney, the governor of the Bank of England, had intended to announce the so-called fintech accelerator in his annual Mansion House speech on Thursday. However, he did not deliver the scheduled speech and instead paid tribute to the late MP Jo Cox as a "remarkable person" who "dedicated her life to helping others".