Future Forum | Bank of England


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Jon Cunliffe, Deputy Governor for Financial Stability, and Tom Mutton, Director of Fintech, discuss the opportunities and risks of fintech in our new podcast.


 You can listen to the podcast here.  


Our governor and deputy governors will talk about the future of money at the Future Forum closing event on Monday 28 Jan. You will be able to watch it live here.

What do you think about fintech? Tell us in the comment section below.

The answer: They are used as currency in some countries.

Discover the surprising and sometimes odd history of money on our timeline:

How has money changed over time?

What's your preferred form of payment? And how do you feel about the increasing digitalisation of how we pay? Tell us in the comments section below. 

The Blurred Transaction

Posted by Future Forum (Admin) 2 months ago

By Sonia Sedler

Our relationships with money are rapidly evolving as money changes hands in less tangible ways: cashless has evolved into contactless, transactions are in turn becoming frictionless – so what comes next? If over-the-counter spending is rapidly being replaced by a click on a third party app, how do businesses maintain engagement with their customers when the touch points have completely blurred?

We have given this emerging trend a name: The Blurred Transaction.

The rapid evolution of our payment and spending behaviours will affect every corner of business, which in turn will affect every one of us as consumers. We are as likely today to get our financial services from supermarkets as we are from banks – so how will these and other businesses’ roles continue to evolve as these relationships continue to blur? Certainly they will all have to work harder to meet the challenge of maintaining customer loyalty.

We have been exploring these ideas, and the transformations that have been occurring all across society – from how we travel, to how we shop, to how we communicate, to how we manage our finances, and how digital technology is fusing all this together and putting the empowered customer at the heart of the blurred transaction.

In this connected age, there has been a power shift: the customer really is king now. We have more choice than ever before; of where we shop or where we bank, and with the power of our personal data we can demand the best ever experience and service from those we choose to place our money with.

The blurred transaction is already happening all around us, and the youngest in our society are already playing their part. For example, children recommending brands to their friends on social media can be more powerful than a TV ad campaign and some digital brands are more interested in the customer’s social clicks than the pound in their pocket – so we need to make sure the digital native generation are kept safe and understand the value of their money, their digital identity and their data.

This is why I am extremely excited to support the Bank of England’s latest Future Forum. I believe the Bank of England plays a vital role in keeping our financial system safe – which means helping everyone in that system to be better informed and responsible with the money they earn and spend.

Ultimately, this starts with education. The UK still needs to do more to teach every citizen, from the earliest years all the way through lifelong learning, to better understand financial literacy. And we in the private sector have an important role to play – as employers and providers of products and services, it is our ethical responsibility as well as the key to the sustainability of our businesses and the economy.

If we are to expect long-lasting stability and prosperity, we need to ensure that, from the youngest age, future generations are taught the basics of earning, saving, budgeting, investing and sustaining money. The impact of this cannot be underestimated: it will help us better to manage social issues from climate change, to health and wellbeing, to supporting a population with an increasing life expectancy. And it all starts with education.

That’s why I’m so pleased the Bank of England is playing its part through its new education resources and programme of school talks. I look forward to supporting the next stage of the Bank’s education work in 2019 and beyond.

Sonia Sedler is EMEA Managing Director of Sutherland Global

Sonia Sedler


We are delighted to be working with the British Youth Council for this session. Ben is keen to hear young people's views on the future of money. How do you view the future of cash? What are your concerns on moving to a cashless society, cyber-security or climate change? What actions would you like to see the financial sector take to limit the risks caused by these? 

 Ben would like you to share your thoughts and questions on the future of cash, payments and savings. He will be answering as many questions as possible at 9:45am on 6 December 2018.

While this session is of particular relevance to young people, all are welcome to submit their questions.


Our shopping and banking habits have changed. With more money being spent online, high street shops are struggling to compete. But where there were once bank branches and pubs, other businesses are taking over.

Discover how the High Street is changing.

1. We’re spending more money online


2. Poorer regions are hit harder by store closures


3. People increasingly bank online

4. And if you want to visit a physical bank branch, it’s not as easy as it once was…


5. But at least, if you need a quick shave or a manicure, you’re in luck


How has your local high street changed? And how do you feel about it? Share your thoughts in the comment section below.

The Governors will be taking part in live Q&A sessions on the platform.  





14 November


Dave Ramsden

Money, Money, Money

16 November


Sam Woods

Banking on a new world

27 November


Jo Place

Bank to the future

06 December


Ben Broadbent

Youth Forum

13 December


Jon Cunliffe

Banking on a new world

09 January


Mark Carney

Overview of all discussions so far

28 January


All Governors

Culmination event

Take part in our poll

Posted by Future Forum (Admin) 3 months ago

We're interested in learning about how you pay for things, what services you use and what you think the future of money will look like.

Take part in our poll now.  


Cash vs cashless challenge

Posted by Future Forum (Admin) 3 months ago

Help us to understand how and why you make payments the way you do!

Banknotes will remain a central form of payment for some time but as we look to the future, we want to know what you think money will be like and what this could mean for you.

To help us understand this we are tasking the people of the UK to undertake our Cash vs Cashless Challenge for a week. 

How can I take part?

• It's simple...If you usually pay with cash, we're asking you to go cashless (this can include debit/credit cards, Apple/Android Pay, cheque etc.);

• and for those who are usually cashless, we challenge you to use only cash for a week.

• We would like you to log your experiences of the week, and then please share them with us by commenting below.

What would we like know? 

• Why do you choose to make payments the way you do?

• How easy/difficult was it to make payments in the opposite way to normal?

• What/where were the main challenges or benefits?

• Has the experience changed or cemented your views on how you will make payments in the future?

Please share any key examples with us too! We'll be reviewing all of the feedback received to help us understand any trends in the way people choose to make payments, and how this might help shape the future of money.

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