Lowering barriers to expansion and entry

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

Other initiatives to guide new and innovative firms

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

Research and analytics

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