CFIT was set up after the 2021 Kalifa Review of UK Fintech to bring industry, regulators, government and technologists together on problems no single organisation can solve alone. Its coalitions have covered Open Finance, Digital Company ID, SME access to finance, Open Property and, most recently, Supported Payments.
In this In Profile, Anna Wallace, CEO at CFIT, discusses moving good ideas out of pilots and into the market, the cross-sector sandbox that came too early, and the trust questions raised by agentic payments.
The Centre for Finance, Innovation and Technology (CFIT) was established following the 2021 Kalifa Review of UK Fintech to bring together the organisations needed to tackle systemic challenges that no single part of the market can solve alone.
As a neutral convener, we create time-bound coalitions spanning financial services, technology, government, regulators, standards bodies and other relevant parts of the ecosystem. But our role goes beyond convening stakeholders or producing recommendations.
Our coalitions are designed to move from identifying a shared challenge to developing, building and testing practical solutions, including prototypes and minimum viable products, alongside the trust, governance, legal and policy frameworks needed to support their adoption.
We’ve applied that model to Open Finance, Digital Company ID, SME access to finance, Open Property and, most recently, financial inclusion through Supported Payments.
Ultimately, it’s about helping turn good ideas into practical change. By testing solutions with real market participants and generating evidence about what works, we can give industry and Government greater confidence that new approaches are not only technically possible, but trusted, commercially viable and capable of being implemented at scale.
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