On 4 April 2022, HM Treasury published the Terms of Reference for the Centre for Finance, Innovation and Technology (CFIT) Steering Committee.

The CFIT was a key recommendation of the 2021 Kalifa Review of UK Fintech.

The CFIT Steering Committee (SteerCo) is being chaired by Ron Kalifa OBE and its membership comprises a range of industry experts, including representatives nominated on behalf of the UK’s regional and national fintech hubs. HM Treasury, the FCA, and the City of London Corporation are also represented. The SteerCo will meet monthly over the Spring and Summer of 2022 to develop a comprehensive proposition for the CFIT. This will include making non-binding recommendations on key strategic points, as detailed in the Terms of Reference. These recommendations will then be considered by the permanent CFIT board and executive, once the CFIT is established.