A new Government-backed body to help UK fintech firms achieve global status has launched in Leeds.
The Centre for Finance, Innovation and Technology (CFIT) aims to harness the success of the UK's fintech sector, which it says is responsible for tens of thousands of jobs and only second to the US in terms of global investment. Economic Secretary to the Treasury, Andrew Griffith, was in the city to announce the move which is in response to the the Kalifa Review.
The report, led by former Worldpay executive Ron Kalifa, called for a range of measures including a fast-track visa system for fintech scale ups and reform of the UK's listing regime to preserve its position as a capital markets hub. The CFIT will establish "financial innovation hubs" which the Government says will benefit places such as Leeds.
