UK appoints former head of innovation at Financial Conduct Authority as new CFIT CEO
CFIT Under New Leadership, Continues Push for Fintech Innovation in the UK
The Centre for Finance, Innovation and Technology (CFIT), a UK government-backed organization, plays a crucial role in driving financial innovation and supporting fintech development in the country. With its focus on fostering partnerships and enabling access to advanced financial technologies, CFIT is dedicated to promoting financial inclusion and sector-wide innovation.
In a significant move, Anna Wallace has been appointed as the new chief executive of CFIT, effective in 2025. Wallace, who previously co-founded and funded the Cambridge Centre for Alternative Finance's SupTech Lab, is described as the ideal candidate to lead CFIT through its next chapter with its newly adopted hybrid model.
Under Wallace's leadership, CFIT is expected to continue its trajectory of driving innovation and fostering collaboration across the fintech ecosystem in the UK. Although specific focus areas under Wallace have not been extensively outlined, her leadership marks a continuity of CFIT’s mission to accelerate fintech adoption and support inclusive, technology-enabled financial services.
In addition to Wallace's appointment, CFIT announced a shift to a hybrid model, where CFIT will simultaneously run publicly and privately funded coalitions. This move is aimed at diversifying CFIT's revenue sources throughout 2025 and beyond.
The UK's fintech sector has seen a mixed performance recently. While funding volumes for fintech remained broadly flat compared to the second half of 2024, the country lost second place in the global fintech investment charts to the United Arab Emirates (UAE).
Despite this, the UK government remains committed to supporting the fintech sector. On 15 July 2025, HM Treasury published the 'Financial Services Growth & Competitiveness Strategy', which includes measures aimed at helping fintech companies and encouraging payments innovation in the UK, including better support for scale-up companies and a 'Wholesale Financial Markets Digital Strategy'.
Ezechi Britton, the outgoing CEO of CFIT, emphasized the importance of key stakeholders from across the entire ecosystem being involved in CFIT's coalitions. He also expressed his belief that the Financial Conduct Authority (FCA), one of the most forward-looking regulators in the world, plays a crucial role in protecting consumers and creating an even playing field for innovation.
CFIT works across coalitions, ecosystems, and partnerships to advance fintech innovation. The organization engages with fintech firms, community banks, and credit unions to address challenges in accessible finance, including using AI to help consumers manage debt and improving services such as car finance.
CFIT complements related institutions like the Centre for Financial Technology and Innovation at Leeds University, which focuses on fintech research and application to improve social equality and financial inclusion.
Thus, under Anna Wallace's leadership, CFIT remains a significant orchestrator of fintech innovation and collaboration, with a focus on inclusive finance and harnessing technology such as AI for practical consumer financial solutions.
- Anna Wallace, the newly appointed CEO of CFIT, will leverage her experience in investing and technology to continue driving fintech innovation and fostering collaboration within the UK's business ecosystem.
- CFIT's shift to a hybrid model, involving publicly and privately funded coalitions, signals a strategic move to accelerate fintech adoption and support technology-enabled financial services in the UK, thereby promoting financial inclusion.
