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Other initiatives to support new and innovative firms

Lowering barriers to expansion and entry

Tandem Bank (authorised in November 2015) is a digital-only retail bank that will operate a personal finance guide which compares lending options offered by both Tandem and its own competitors. Other innovative banks are in the pipeline for authorisation.

Other initiatives to guide new and innovative firms

The lender of England supports innovation in financial services through its strive to promote innovative research and data analytics in central banking, and enhancing the ability of innovative firms to access Bank of England facilities. The financial institution has additionally embraced new technology in the provision of UK banknotes.

Research and analytics

The lender launched its One Bank Research Agenda initiative in February 2015 to try to understand and develop innovative practice that is best in central banking, taking into account technological, institutional, social and environmental change.

It is designed to facilitate open dialogue between the lender as well as the research community to support innovation and inform the Bank’s work. Continue reading “Other initiatives to support new and innovative firms”