Bank of England
Central bank is taking a "multiple phase approach" across different Oracle modules, is hiring for support...
The central bank's technology boss on overhauling hosting and ERP, deploying 'DG CIOs', and trying to be 'cloud-smart'.
Change freezes are over, RTGS now operational near 23/7 for some administrative tasks
"Third-party exposure will continue to increase as the complexity of models increases and outsourcing costs decrease"
Bank of England warns that unchecked use of AI poses a risk to the stability of the financial system.
Regulators admit that forcing critical third-party firms to "openly" share vulns would "go against" plan to reduce systemic risk and boost operational resilience.
16% of respondents are using AI for credit risk assessment; 11% are using it for algorithmic trading. The Old Lady wants to keep a watchful eye...
Network configuration, CA and SWIFT issues, and certificate expiration blamed for a series of RTGS outages the past year.