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Allen & Overy appointed legal adviser and coalition partner to Centre for Finance, Innovation and Technology (CFIT)

Allen & Overy appointed legal adviser and coalition partner to Centre for Finance, Innovation and Technology (CFIT)
Published Date
Jul 14 2023
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Allen & Overy (A&O) is appointed as legal adviser and coalition partner to the first coalition on Open Finance by the Centre for Finance, Innovation and Technology (CFIT). 

CFIT was established as a key recommendation of the Kalifa Review of UK Fintech in 2021. It is intended to be a forum that brings together the Government, regulators and the market to create solutions to financial services issues in the UK.

CFIT’s mission is to unblock barriers to growth for financial technology and positioning the United Kingdom as a global leader in financial innovation. Acting as a central convening force, CFIT brings together time-limited coalitions of experts from finance, technology, academia and policy-making to identify and remove barriers to fintech sector growth, support the creation of high-income tech-based employment across the UK, and enable firms to achieve global scale.

The Open Finance coalition will kick off their programme of work in July 2023. The work of the coalition will be research-led and data-driven, to improve the financial lives of SMEs and consumers. Through opening financial datasets, the coalition will create outputs and new opportunities that will make a real difference to business and consumers across the UK.

James Roe, Partner at Allen & Overy said “we are proud to be a member of CFIT’s first coalition on open finance, bringing together experts to tackle the complex and societally important issues of consumer financial awareness and SME financing. Empowering individuals to better manage their financial health, plan for their futures and support UK businesses to access the capital they need to thrive.”

About CFIT

The Centre for Finance, Innovation and Technology (CFIT) was established in early 2023 following a recommendation in the Kalifa Review of UK Fintech (2021) with the purpose of unblocking barriers to growth for financial technology and positioning the United Kingdom as a global leader in financial innovation. CFIT brings together time-limited ‘coalitions’ of experts from finance, technology, academia and policy-making to drive better outcomes for consumers and SMEs.

CFIT's coalition model is designed to identify and solve complex problems and barriers to fintech growth in the UK. The coalitions will be made up of diverse cross-sectoral industry representatives who will work collaboratively to identify opportunities and create innovative solutions for implementation. The outputs of the coalition's work will have measurable real-world outcomes and benefits that can be referenced by the industry.

CFIT’s CEO Ezechi Britton MBE was appointed in February 2023. Ezechi is a founding member and outgoing CTO of Impact X Capital and was recently appointed as a Trustee for Crisis. Previously he was the CEO and co-founder of Code Untapped, the CTO and co-founder of Neyber Ltd, and also held software developer roles within Credit Suisse.

Charlotte Crosswell OBE, the former CEO of Innovate Finance and Chair and Trustee of Open Banking, serves as CFIT’s Chair. She has worked closely with entrepreneurs, financial services firms, government and regulators on fintech advocacy and strategy. She is passionate about the role of innovation in growing the UK economy.

CFIT was established as a key recommendation of the Kalifa Review of UK Fintech in 2021. It is intended to be a forum that brings together the Government, regulators and the market to create solutions to financial services issues in the UK.

CFIT’s mission is to unblock barriers to growth for financial technology and positioning the United Kingdom as a global leader in financial innovation. Acting as a central convening force, CFIT brings together time-limited coalitions of experts from finance, technology, academia and policy-making to identify and remove barriers to fintech sector growth, support the creation of high-income tech-based employment across the UK, and enable firms to achieve global scale.

The Open Finance coalition will kick off their programme of work in July 2023. The work of the coalition will be research-led and data-driven, to improve the financial lives of SMEs and consumers. Through opening financial datasets, the coalition will create outputs and new opportunities that will make a real difference to business and consumers across the UK.

James Roe, Partner at Allen & Overy said “we are proud to be a member of CFIT’s first coalition on open finance, bringing together experts to tackle the complex and societally important issues of consumer financial awareness and SME financing. Empowering individuals to better manage their financial health, plan for their futures and support UK businesses to access the capital they need to thrive.”

About CFIT

The Centre for Finance, Innovation and Technology (CFIT) was established in early 2023 following a recommendation in the Kalifa Review of UK Fintech (2021) with the purpose of unblocking barriers to growth for financial technology and positioning the United Kingdom as a global leader in financial innovation. CFIT brings together time-limited ‘coalitions’ of experts from finance, technology, academia and policy-making to drive better outcomes for consumers and SMEs.

CFIT's coalition model is designed to identify and solve complex problems and barriers to fintech growth in the UK. The coalitions will be made up of diverse cross-sectoral industry representatives who will work collaboratively to identify opportunities and create innovative solutions for implementation. The outputs of the coalition's work will have measurable real-world outcomes and benefits that can be referenced by the industry.

CFIT’s CEO Ezechi Britton MBE was appointed in February 2023. Ezechi is a founding member and outgoing CTO of Impact X Capital and was recently appointed as a Trustee for Crisis. Previously he was the CEO and co-founder of Code Untapped, the CTO and co-founder of Neyber Ltd, and also held software developer roles within Credit Suisse.

Charlotte Crosswell OBE, the former CEO of Innovate Finance and Chair and Trustee of Open Banking, serves as CFIT’s Chair. She has worked closely with entrepreneurs, financial services firms, government and regulators on fintech advocacy and strategy. She is passionate about the role of innovation in growing the UK economy.

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This content was originally published by Allen & Overy before the A&O Shearman merger

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