CFIT’s Coalition Model

Driving global innovation in financial technology

What is a CFIT Coalition?

A CFIT Coalition is a dynamic and purpose-driven collaboration of industry experts committed to driving tangible change in the financial technology sector. Through a research-led approach, these coalitions bring together the brightest minds and thought leaders to tackle complex challenges and unlock innovative solutions that have a real-world impact.

Our coalitions operate on a time-limited basis, harnessing the collective expertise and diverse perspectives of our members to explore and address key issues facing the fintech and wider financial services industry. By leveraging cutting-edge research, data-driven insights, and collaborative ideation, CFIT Coalitions strive to push the boundaries of what is possible in fintech.

What sets CFIT Coalitions apart is their focus on generating tangible outcomes. We go beyond theoretical discussions and aim to deliver practical solutions that drive meaningful change in the industry. Whether it’s developing minimum viable products (MVP’s) for groundbreaking technologies, shaping regulatory frameworks, or fostering strategic partnerships, CFIT Coalitions are at the forefront of innovation, making a lasting impact on the fintech landscape.

Coalition Partners and Working Group Members

In our CFIT ecosystem, coalition partners play a vital role by providing additional resources and expertise to support the working group members who actively engage in executing the work within the working group program.

While coalition partners contribute their resources, such as funding, technology, and industry insights, working group members are the driving force behind the implementation and execution of the program’s objectives.

They dedicate their time and effort to tackle the challenges and deliver tangible outcomes. Together, coalition partners and working group members form a collaborative and synergistic network, combining their strengths to achieve the collective goals of the CFIT coalition

Working Group Principles

A working group operates as a branch of a coalition. The purpose of a working group is to identify tangible solutions related to the overarching research goal. These groups work to narrow down the scope of the problem and then develop prototype user experiences (UX) and policy recommendations to address or enhance the research goal.

Smaller groups input

Able to focus on building prototypes and deliver reports on how to expand and scale on their findings

Region-led

Organisations can self-organise and create output based on specific requirements in their area

Increased resource

Groups can use their own regional resources and draw on central CFIT help and input

Greater focus

Groups have the freedom to focus on key areas within a coalition where they see the best opportunity to find solutions to financial innovation challenges

We connect,
you build.

Join our CFIT coalition, where we unite top talent from financial innovation, including fintechs, insurtechs, regtechs, academics, banks, government and more. Interested in generating data-driven policy recommendations and impactful outcomes?

Reach out to our team to discuss how you could participate.

Get in touch

Key Principles of a CFIT Coalition

Each coalition is created around key principles designed to ensure alignment with CFIT’s mission of creating tangible outcomes that drive financial innovation and technology-led UK growth. These include:

Time-bound duration

Agile operation mode

Solving a specific problem

Prototypes deliverable within 9 months

Scalable

Have regional input and impact

Contribute to UK growth

Linked to the financial services ecosystem

Coalition Life Cycle

The coalition life cycle works as part of the discovery and development process, with a coalition moving from formation, to solution design and build, before moving to an announcement and demo day.

Road Map

Stages of Development within a CFIT Coalition

All coalitions will be set up, launched and developed within specific stages that are designed to ensure the gathering of the brightest minds and delivery of outcomes in a timely manner:

Stage 1 – Analyse coalition objectives and evaluate core opportunities

Defining the challenge statements – research will identify and define three challenge statements for coalition partners to assess and evaluate.

Identify prospective coalition partners – a list of 50-60 highly qualified/strategic coalition partners will be identified, drawn from all sectors of the financial technology ecosystem, including industry, investors, academics, and regulators.

Stage 2 – Outreach, recruitment, and resource alignment

Developing the proposal – CFIT will outline proposals to prospective coalition partners, providing an overview of the working group assignments, vision, objectives, and resource requests.

Stage 3 – Devise coalition objectives and actions

Devise coalition schedule – working groups will be identified and a workshop schedule will be devised to meet the objectives. Key deliverables for each group will also be outlined, including documenting requirements, cost estimates, project plans and recommended technical architecture and implementation approaches.

Stage 4 – Convening and communicating with the coalition working groups

Convene the coalition – a call will be put out to, and the structure put in place for, the coalition and its working groups to start all activity.

Workshops and ongoing comms – workshops will be limited to 2 hours for each member. These will be run on a bi-weekly basis. Follow up comms will be sent providing next steps, guidance, and an outline of tasks to complete before the next workshop.

Stage 5 – Building momentum and feeding back on progress

Providing updates and feedback – CFIT will regularly assess a coalition’s progress and updates and feedback will be provided to all partners. Reviews will also identify any opportunities to evolve the objectives and strategies based on the feedback of coalition partners.

Stage 6 – Demo day: Promoting the deliverables and mobilising industry

The demo day showcase – CFIT will host a ‘demo day’ to showcase coalition findings to wider industry stakeholders. Comms and marketing collaboration will be set up to promote the opportunities that have arisen from the coalition’s work and the real-world impact it will have.

Outcomes of a CFIT Coalition

All coalitions must meet strict outcome objectives for both the UK economy and CFIT.

Outcomes for the UK economy

Develop UK financial innovation by solving the challenges that are barriers to growth

Identify future use-cases that can be implemented to drive growth

Drive adoption of coalition solutions in other sectors where cross-sectoral applications exist

Position the UK as a global leader in financial innovation

Outcomes for CFIT

Establish the organisation within the ecosystem of financial innovation

Define future areas of work for CFIT

How a Use Case Works

Phase 1
Setting the foundations of a use case
Phase 2
Use case development
Phase 3
Delivering the outcomes of a use case

Defining the opportunity statement – CFIT defines an opportunity statement that is sent to all coalition members with a request for feedback on the expected size of the opportunity and the viability of achieving its purpose.
Research – research is conducted by CFIT on the opportunity statements. This may include desk-based research as well as consultations and interviews with industry and the broader fintech ecosystem. All research and data insights will be provided to the coalition partners.
Refinement – the opportunity statement is refined by CFIT, with further input from the coalition (as required).

Prototype/s – built to encompass various components of the use case focus and sandboxes are utilised to facilitate testing and experimentation.
Project management – overseen by the core coalition and supported by CFIT project managers, a core use case team is composed of pledged resources (talent and technology) to lead this process.
Outputs – the final output will consist of prototypes such as UI/ UX wireframes, backend specifications, data flow system designs, visualisation demos, draft agreements, API standards or sandboxes. Additionally, a document will be prepared to specify any necessary policy and regulation changes, whether they involve introducing new elements or making edits to existing ones.

Launch – the use case and wider coalition findings will be delivered in a ‘demo day’ with attendees from government, academia, industry and investors.

Find out more about CFIT’s first coalition to find innovative solutions to unlock the potential of Open Finance

Find out more

CFIT’s Coalition Model

Driving global innovation in financial technology

What is a CFIT Coalition?

Coalition Partners and Working Group Members

Working Group Principles

We connect, you build.

Join our CFIT coalition, where we unite top talent from financial innovation, including fintechs, insurtechs, regtechs, academics, banks, government and more. Interested in generating data-driven policy recommendations and impactful outcomes?

Reach out to our team to discuss how you could participate.

Key Principles of a CFIT Coalition

Coalition Life Cycle

Road Map

Road Map

Stages of Development within a CFIT Coalition

Outcomes of a CFIT Coalition

How a Use Case Works

Find out more about CFIT’s first coalition to find innovative solutions to unlock the potential of Open Finance

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We connect,
you build.