Centre for Finance, Innovation and Technology launches to boost UK fintech
The Centre for Finance, Innovation and Technology (CFIT), a new private sector-led body, has officially launched in the UK with the aim to draw on expertise to set national strategy and drive growth in the sector.
Born out of the 2021 Kalifa Review, CFIT will bring together “coalitions of experts” across finance, technology, academia and policy to help support fintech sector growth and the creation of “high-income” tech jobs.
CFIT chair Charlotte Crosswell says: “The launch of CFIT today represents a significant moment for the UK’s fintech sector and our economy more widely.”
The body will also aim to “power up” the UK’s financial innovation sector, maximising economic growth across all regions of the UK and ensuring better outcomes for fintech firms, small and medium-sized enterprises (SMEs) and consumers.
CFIT CEO-elect Ezechi Britton adds: “Given the wealth of talent and innovative ideas in the sector, it is absolutely essential that we provide the right environment for our fintech sector to thrive and reach its full potential.”
Alongside the launch, CFIT will establish financial innovation hubs across the UK’s regions including Wales, Northern Ireland and Scotland, as well as major cities such as Leeds, Manchester, Newcastle, Birmingham and Bristol.
These hubs will enable cross-sector experts with a local focus to input on barriers to growth and ensure solutions benefit the whole of the UK and support the work of existing regional clusters to advance fintech innovation.
CFIT also intends to work with leading universities to give students the opportunity to land placements at UK companies operating in the financial innovation sector.