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The Centre for Finance, Innovation and Technology (CFIT), a government-supported UK fintech body, has appointed a new chair following a boosted funding commitment from the Treasury.

Charlotte Crosswell joins the organisation from previously running Innovate Finance and the Open Banking Implementation Entity (OBIE), which played a key role in the UK’s adoption of open banking technology.

Last year’s Autumn budget, delivered by the now Prime Minister Rishi Sunak, saw the Treasury commit £5.5m in funding to CFIT. The private sector-led body has a focus on supporting UK financial innovation by bringing together experts to identify challenges and opportunities.

Establishing a government-backed fintech body was among the key recommendations made in the Kalifa Review, a Treasury-sponsored review of the UK fintech industry from Ron Kalifa.

“Charlotte will be responsible for advancing its mission and drive the UK‘s leadership as the global leader for financial innovation by seeking out opportunities to accelerate and unblock barriers to grow the fintech sector,” Kalifa said on Crosswell’s appointment as CFIT chair.

“CFIT will be focussed on bringing together the best minds from the ecosystem to drive better outcomes for consumers and SMEs across the UK.”

He added that the appointment gave him “confidence in the next phase for CFIT.”

Read more: Kalifa Review one year on – UK must do more to keep ‘fintech crown’