CENTRE FOR FINANCE, INNOVATION
AND TECHNOLOGY
Unlocking financial innovation and economic growth
CFIT is leading the drive to enhance the UK’s position as a global leader in financial innovation by bringing together the best minds from across the UK to identify key challenges faced by industry and to create financial solutions that benefit individuals, business and the wider-economy.
How we foster financial innovation in the UK
CFIT unlocks innovation and drives market development by bringing together leading experts from government, regulators, technology hubs, and financial institutions to co-design financial solutions to the key challenges facing industry and the economy. These CFIT ‘coalitions’ test solutions and strategic initiatives ahead of the formal rollout of our data-driven reports and findings.
- Improve policy outcomes with direct industry insight
- Accelerate adoption via real-world validation
- De-risk innovation through early research, prototyping and user testing
- Drive innovation that is commercially viable and policy-ready
- Reduce market risk by aligning with government direction
- Gain policy clarity to guide investment decisions
Our coalition approach
At the heart of CFIT’s approach is the coalition model, a dynamic and purpose-driven collaboration of industry experts focused on driving meaningful change in the financial technology sector. Through research-led initiatives, these coalitions tackle complex challenges and develop innovative solutions that deliver real-world impact for UK consumers and the wider economy.
Digital Verification Coalition
CFIT’s recent coalition focused on tackling economic crime through digital verification. Working across the industry, the Coalition developed a Digital Company ID designed to combat economic crime and support the widespread adoption of secure digital identities. According to the UK Government, this could deliver an annual economic boost of £600 million.
Key Findings
Digital Verification Blueprint Report
Our Blueprint outlines how a Digital Company ID can help tackle economic crime. This transformative approach has the potential to revolutionise UK business by enhancing efficiency, strengthening security and trust, and saving billions each year in lost revenue. It highlights the opportunities identified by the coalition and presents the proof of concept for implementation.
The opportunity for the UK Economy
CFIT convened over 70 leading organisations to design and develop Digital Company ID – a unique digital representation of a business entity for the purpose of digital verification. Digital Company ID is a scalable, transformative solution to fighting economic crime. By addressing systemic vulnerabilities, Digital Company ID paves the way for a fairer and more resilient economic system that benefits businesses, consumers, and society and helps foster economic growth.
Find out more about joining a coalition
Interested in joining a CFIT Coalition? Select your Coalition of interest and enter your email below, and a member of our team will be in touch with more information.
Discover more about our other coalitions
Explore our other coalitions to see how CFIT is bringing together industry leaders to address some of the most pressing challenges in financial innovation. From unlocking access to finance for SMEs to accelerating the adoption of open finance, each coalition is focused on delivering practical, data-driven solutions with real impact. Discover how these initiatives are shaping the future of financial services across the UK and beyond.
Our Financial Innovation partners
CFIT is partnering with some of the world’s leading financial institutions, fintech companies and industry bodies in our drive to scale financial innovation.
Our impact on financial innovation
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