Bank of England Makes TransferWise The First Non-Bank To Become Member Of Faster Payments

In the fast-moving world of FinTech, announcements are made daily about this new universe, not least the cities and countries that are trying to position themselves as FinTech hubs.

Currently, London and Singapore are probably the two territories that are scrambling to be FinTech Royalty, not least by investment in startups, but also by environments that encourage speedy innovation.

The Bank of England is one institution that is putting its considerable weight and history behind the FinTech future.

It clearly has form and tradition behind it. Established in 1694, it’s the world’s second oldest bank, behind the somewhat less-well known Sveriges Riksbank.

Nicknamed the Old Lady of Threadneedle Street (where it is based in the City of London), this Old Lady means business and this morning embraced the somewhat younger FinTech world.

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