The Government-backed Centre for Finance, Innovation and Technology has named Charlotte Crosswell as its new Chair.
In Brief:
Crosswell was previously CEO of Innovate Finance and Chair of the Open Banking Implementation Entity (OBIE).
She will step down from OBIE in January 2023.
CFIT was a kay recommendation of the Kalifa Review into UK FinTech and has received £5.5mn in Seed funding from the City of London Corporation and HM Treasury.
What does this mean?
This means that the Competition and Markets Authority (CMA) will begin recruiting for a new Chair, while CFIT’s work can begin in 2023.
Crosswell commented: “I am honoured to take on the position of the first Chair of the CFIT and increase the global scale and impact of the UK fintech sector.
“We have a unique opportunity to capitalise on the considerable progress that has already been made between industry, government and regulators to support this exciting sector, and ensure that its impact is felt up and down the country.”
