Why fragmentation of the global data supply chain poses risks to financial services

Matthew Osborne and David Bholat

Every minute of the day, Google returns over 3.5 million searches, Instagram users post nearly 50,000 photos, and Tinder matches about 7,000 times. We all produce and consume data, and financial firms are key contributors to this trend. Indeed, the global business models of many firms have amplified the data-intensity of the financial services industry. But potential fragmentation of the global data supply chain now poses a novel risk to financial services. In this blog post, we first discuss the importance of data flows for financial services, and then potential risks from blockages to these flows.

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Temporary pause to Bank Underground

Given our need to reprioritise staff resources towards responding to the Covid-19 pandemic, we’ll be temporarily pausing publishing posts on Bank Underground. We will review this periodically and hope to resume soon.

Belinda Tracey, Managing Editor

If you want to get in touch, please email us at bankunderground@bankofengland.co.uk or leave a comment below.

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Our top 5 posts of 2019

As another year draws to an end, we wanted to take a look back at the blog in 2019. In case you missed any of them the first time round, the five most viewed posts for the year were:

  1. Handel and the Bank of England
  2. Houses are assets not goods: part 1 and part 2
  3. The ownership of central banks
  4. Opening the machine learning black box
  5. What happens when ‘angels fall’?

We hope you enjoyed the blog in 2019. Happy New Year and we look forward to you reading our posts in 2020!

Belinda Tracey, Managing Editor