The Accelerator-run proofs of concepts allowed us to change our mind-set to be less bound by convention in terms of how we run the Bank of England, as an infrastructure provider, a payment systems operator and a regulator. We are now looking to build on the success of the Accelerator by integrating its key approaches into our business as usual activities. So today I can announce that we have set up a new Fintech Hub that will sit at the heart of the Bank, to consider both how the Bank understands and how it applies fintech, relevant to its mission. It is important that we continue to do this with our doors firmly open. So the Hub will be a central point of contact for the fintech sector to engage with the Bank, and will play an active role in the new HMT/FCA/Bank taskforce. And it will engage with you to understand and apply these developments to support the next wave of innovation in finance, and ensure that the UK has the right infrastructure to support that into the future. Being open in our minds and approach are important steps in embracing and supporting new technology. But we also need to be open to change to fulfil our mission and keep pace with an evolving financial sector. Open to change  Change is already afoot.
With its open approach of considering, adapting to, and applying fintech across the breadth of its mission, including through its own investments, the Bank will play its part. 14 15  Bank of England (2017b) The proof of concept connects firms to a specifically built, offline version of RTGS so that the live RTGS system is protected.