Bank of England expands fintech focus across AI, DLT and quantum computing
The Bank of England is positioning fintech as a broad driver of change across financial services, as technology reshapes how firms, consumers and businesses use the system. Its work centers on artificial intelligence, distributed ledger technology and quantum computing, with an emphasis on responsible innovation aligned with financial stability and statutory objectives.
Highlights
- Bank of England expands fintech focus to prioritize AI, distributed ledger technology, and quantum computing across the regulated financial sector.
- The Bank and Financial Conduct Authority launched the AI Consortium in May 2025 to gather stakeholder input on AI capabilities, development, and responsible deployment in UK financial services.
- Regulatory work extends to evaluating legal frameworks for DLT adoption and initiating long-term strategies to address quantum computing’s impact on UK finance and the economy.
Technology priorities and regulatory agenda
As reported by Bank of England, citing PRA, the Bank of England defines fintech as technology-enabled financial innovation and says its programme is designed to support responsible adoption across the financial system. The central bank says this work spans three cross-cutting technologies, AI, distributed ledger technology and quantum computing, reflecting a wider push to prepare regulated firms for structural changes in finance.
In AI, the Bank says the technology has the potential to deliver major efficiency gains, raise productivity and transform financial services. At the same time, it says increasingly complex uses of AI can create risks for the safety and soundness of firms, as well as for overall financial stability.
The Bank says it is working proactively to help the firms it regulates, and the wider financial system, use AI safely and effectively. It launched the AI Consortium with the Financial Conduct Authority in May 2025 to gather stakeholder input on AI capabilities, development, deployment and responsible use in UK financial services.
Implications for UK financial services
Beyond AI, the Bank says distributed ledger technology could fundamentally rewire parts of the financial system. Its work in this area includes examining how regulatory and legal frameworks can support responsible DLT adoption, alongside the usability of new forms of digital assets and digital money.
The central bank also identifies quantum computing as a potentially major technological leap for financial services. It says its work on quantum computing marks the start of a longer-term commitment to managing the technology’s transformative potential for the UK financial sector and broader economy.
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