Fintech growth quango, the Centre for Finance, Innovation and Technology (CFIT), has appointed the FCA's former head of innovation Anna Wallace as CEO.
Wallace will lead the innovation body into its next phase of work, as it continues to drive progress in areas including smart data, digital ID, financial inclusion, digital assets and AI.
She begins her new role at CFIT on 1 September 2025, joining from the Gates Foundation, where she currently serves as senior program officer for consumer protection and RegTech, with a focus on financial inclusion and spurring regulatory technology.
Previously, she was head of innovation at the Financial Conduct Authority, overseeing functions such as the FCA’s Innovation Hub, Advice Unit and Regulatory Sandbox.
Wallace also has direct experience of working with and investing in scale-up technology businesses, as an early-stage backer of FNA, Proto and Regnology, three companies addressing customer complaints, fraud and regulatory reporting respectively.
CFIT was launched in 2023 with backing from HM Treasury and the City of London Corporation add is seeking to diversify its revenue through a mix of public and privately funded research and development projects.
The organisation has coordinated multiple industry-wide coalitions on some of the biggest themes and emerging technologies in fintech.
In March, CFIT published its blueprint for fighting economic crime through the introduction of Digital Company ID. Three industry-led working groups are building a prototype Digital Company ID, identifying use cases and setting trust and governance standards.
In June, CFIT announced how its next industry-wide coalition, including Mastercard, Lloyds Banking Group and HSBC, will develop tech solutions to close the UK’s SME credit gap.
As CEO, Wallace will draw on her experience as co-founder and funder of the Cambridge Centre for Alternative Finance’s SupTech Lab, which helps regulators and the private sector spin out new minimum viable products.
She says: “I’m excited to drive this work forward by delivering prototype solutions, roadmaps and policy proposals that build on our existing accomplishments, as well as through new coalitions and expanding into solving other fintech challenges including AI, tokenisation and digital assets. CFIT’s success has relied on strong partnerships with government and industry, and I look forward to continuing that very successful collaboration.”