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.

Continue reading “Why fragmentation of the global data supply chain poses risks to financial services”

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.

Comments will only appear once approved by a moderator, and are only published where a full name is supplied. Bank Underground is a blog for Bank of England staff to share views that challenge – or support – prevailing policy orthodoxies. The views expressed here are those of the authors, and are not necessarily those of the Bank of England, or its policy committees.