Mark Carney, governor of the Bank of England, set out a vision of the UK at the forefront of a fintech revolution creating "unbundled" or modular banking this morning - but his boss, the Chancellor of the Exchequer, warned the country would need an open immigration policy to do it.

Both men were speaking at the UK’s first International FinTech Conference, held in Old Billingsgate, London today. In an upbeat speech setting out the Bank of England's agenda on new financial technologies Carney said it could "deliver significant benefits to households and businesses across this country and the world".