Bank of England plans to tap start-up expertise

The Bank of England plans to launch a financial technology accelerator programme to tap the expertise of start-ups as a flurry of innovations reshape finance.

This may be the first time a central bank has employed this approach to R&D, a practice long used in Silicon Valley as a way to incubate young companies.

Governor Mark Carney had planned to make the announcement in his annual Mansion House speech in London on Thursday evening.