In Profile: Christopher Horne, CEO of The Bank of London

There are only six authorised clearing banks in the UK, a group The Bank of London joined in 2023 after completing mobilisation. Unlike traditional banks, it does not lend or invest customer deposits, focusing instead on payments, settlement and clearing. Its platform is built on cloud-based systems designed to handle real-time processing and operational resilience.

In this week’s In Profile, chief executive Christopher Horne shares how his experience in global markets shaped his move into fintech, what it’s been like leading one of the UK’s newest clearers and the opportunities he sees as banking and technology continue to converge.

Tell us more about your company and its purpose
Christopher Horne, CEO of The Bank of London
Christopher Horne, CEO of The Bank of London

As only the sixth authorised UK clearing bank, we offer a purpose-built payment, settlement and clearing platform that is powering the businesses and entrepreneurs of the future. The Bank of London has a distinct business model – unlike traditional banks, we do not lend, invest or leverage deposits, meaning clients’ money is always available on demand.

Our modern, cloud-native technology infrastructure represents a significant departure from traditional banking platforms, enabling us to offer enhanced efficiency, real-time processing capabilities and improved resilience. Our state-of-the-art platform supports key services like deposits-as-a-service and embedded banking, positioning the Bank as a leader in financial innovation.

What are some of your recent achievements you’d like to highlight?

Our single biggest achievement was the exit of mobilisation in February 2023 being licensed as a regulated deposit taking bank able to commence banking activities, thereby becoming only the sixth clearer for the GBP market. The ownership transition in the second half of 2024 evidenced strong belief in our strategy, vision and opportunities providing the capital needed to take the Bank to the next step. We have recently onboarded a new leadership team who have the right mix of backgrounds and capabilities to deliver that next phase of growth.

How did you get into the fintech industry?

In the same way as for many I’m sure, it wasn’t a move I had always seen coming. My time at Credit Suisse taught me how the incumbent and traditional financial systems work at scale but also where they break down. I am interested in how technology can offer better outcomes for clients. Bank of London offered me the chance to gain exposure to a new segment of the financial services ecosystem and enter a part of the industry where the pace of change, particularly in technology, is not only faster but often more meaningful.

What’s the best thing about working in the fintech industry?

In fintech, we get to challenge convention and reimagine the systems that have been in place for a long time. It’s an industry full of energy and ambition and attracts top tier talent from across verticals, bringing perspectives from a range of backgrounds together to solve real world problems and build the next game changing solution.

What frustrates you most about the fintech industry?

At times there is still a bit too much debate and not enough action. It’s easy to talk about the finance revolution but it has to come with a clear understanding of the complexities involved – the regulations and the process of change, for example. Rapid pace of change is best accompanied by a deep understanding of the issues/ variables.

How have your previous roles influenced your career?

Working in corporate finance and global markets at Credit Suisse reinforced for me the importance of scale, client trust and proportionate governance. It’s important to me that I don’t lose sight of the advantages we now have at Bank of London but to balance them with the experiences I have had – so I approach my leadership here as a balance of rigour and boldness, while never forgetting that client are at the centre of everything we do.

What’s the best mistake you’ve ever made?

This isn’t a work-related incident but still relevant for what followed. When applying to University, I did not realise Durham had a collegiate system and so did not specify a preferred college. So they placed me in the college that was closest to chemistry faculty – convenient as it was a matter of minutes to get to a very structured lecture and laboratory programme but, more importantly, I made many friends who remain very dear to me.

What has the future got in store for your company?

We intend to expand our offer beyond our core GBP capability to include international payments and to offer clearing for USD and EUR. Beyond payments, we are focusing on the digital assets sector where we are perfectly placed to be an important enabler. Embedded banking is also a significant growth opportunity for the Bank as we empower businesses with smarter solutions that fuel ambition, remove friction and ensure financial safety and security.

What are the next key talking points or challenges for your industry as a whole?

Firstly, for me it’s the fact that ‘fintech’ and ‘traditional finance’ is converging faster than ever and with that the regulatory perimeter is expanding too. It’s going to challenge many who sit firmly in the fintech camp but it provides an opportunity for responsible innovation. Secondly, any answer these days has to include AI somewhere, so I have to say it’s how we integrate the AI opportunities into risk management, compliance and customer service in a way that everyone still feels safe and secure. Finally, we need, as an industry, to speak louder on financial infrastructure accessibility and how we open up to more people and more businesses but without compromising on financial safety.

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