The Bank of England has raised interest rates 11 times since December 2021 in a bid to curb soaring inflation, which has squeezed living standards. Anil said last month's banking sector turmoil, sparked by the failure of SVB which spooked investors, could contribute to a broad shake-up in the digital finance sector. "The Bank of England looking at the regulations... is the sensible course to do," Sam Everington, senior executive at British digital bank Starling, told the event in London. Digital finance company bosses said they were confident the sector could weather tough economic conditions, but that pressure was building on business models. Lisa Jacobs, CEO of fintech Funding Circle, said much of the digital finance industry had only ever known low interest rates, but she was confident the industry could still show its value.

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