The heads of innovation at two of the UK's biggest banks have joined an initiative to boost in-house understanding of technologies like blockchain and artificial intelligence, amid growing concerns about the country's ability to draw in this expertise from outside its borders. 

Michael Harte, Barclays’ global head of innovation, and Kaushalya Somasundaram, HSBC’s head of fintech partnerships and strategy, have joined the board of the Fintech Circle Institute.