Former Labour minister Pond to chair financial innovation body

A erstwhile pensions curate nether Tony Blair volition this week beryllium named arsenic the caller seat of a publically funded organisation which aims to cement Britain’s presumption arsenic a planetary person successful fiscal innovation.

Sky News understands that the Centre for Finance, Innovation and Technology (CFIT) volition denote connected Thursday that Chris Pond volition regenerate Charlotte Crosswell arsenic its chair.

Mr Pond, who besides worked for the Financial Services Authority, is present seat of the City watchdog's user sheet and the gambling self-exclusion strategy Gamstop.

His assignment astatine CFIT volition beryllium announced alongside those of 2 different committee members, including Nausicaa Delfas, who runs The Pensions Regulator.

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Vivienne Artz, main enforcement of the FTSE Women Leaders Review, volition besides articulation CFIT arsenic a non-executive director.

CFIT was established to code challenges emerging from the explosive maturation successful the usage of exertion crossed the fiscal sector, by processing argumentation recommendations and jointly creating exertion solutions for wider manufacture adoption.

Set up pursuing a reappraisal of Britain's fintech assemblage overseen by the businessman Sir Ron Kalifa, it has projected initiatives specified arsenic a Digital Company ID programme aimed astatine reducing fraud.

"The interaction of CFIT's enactment to day has been wide felt crossed manufacture and government, and recognised successful the past Budget, the caller Financial Services Growth and Competitiveness Strategy and the National Payments Vision," Mr Pond said successful a connection issued to Sky News.

He added that the organisation was "tackling immoderate of the astir analyzable systemic challenges facing fiscal services and the wider economy".

Collectively, the caller committee members volition enactment with Anna Wallace, precocious appointed arsenic CFIT's main executive.