New post for banker
CYBG chief Duffy takes FinTech Envoy role
David Duffy: a critical time for the UK’s FinTech and wider financial services industry
David Duffy, chief executive of Clydesdale and Yorkshire bank owner CYBG, has been appointed the FinTech Envoy for England by HM Treasury.
The announcement was made by the Chancellor at HM Treasury International FinTech Conference 2018, where he launched the Government’s new FinTech strategy, including the appointment of new FinTech Envoys.
The FinTech Envoy roles have been created to ensure the UK’s FinTech sector develops across the whole of the UK and to encourage greater collaboration between FinTechs, banks and other financial services firms.
Mr Duffy’s primary role will be to advocate for the FinTech industry across England, raising its profile and potential, as well as helping to find markets for their products both in the UK and internationally.
Speaking about his appointment, he said: “I’m hugely excited to be taking on this FinTech Envoy role at such a critical time for the UK’s FinTech and wider financial services industry.
“The UK has a fantastic opportunity to be a global FinTech leader. As the Government’s FinTech Strategy rightly identifies, delivering on this potential will require deeper and more extensive collaboration between FinTechs, banks and other financial services firms, as well as a real push to unlock the potential of FinTechs across the UK by helping them access new markets.
“Open Banking has provided banks and FinTechs with a unique opportunity to collaborate for the good of retail and SME customers, and a successful FinTech sector is key to increased productivity and regional growth across the UK. There are countless possibilities that lie ahead to improve choice, cost and convenience to customers.”
John Glen, Economic Secretary to the Treasury and City Minister, said: “David’s extensive experience and passion for FinTech will make him a fantastic envoy for England. It’s vital that every part of Britain benefits from the FinTech revolution, and I look forward to working with him to ensure that happens.”