CYBG’S chief executive David Duffy appointed ‘fintech envoy’

David Duffy, the chief executive of Clydesdale Bank parent group CYBG, has been appointed as the “fintech envoy” for England by the UK government.

The announcement was made by Chancellor Philip Hammond at the HM Treasury International Fintech Conference 2018, where he launched a new strategy for the burgeoning financial technology sector.

The envoy roles have been created to ensure that the sector develops across the whole of the UK and to encourage greater collaboration between fintech businesses, banks and other financial services firms.

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 products both in the UK and internationally.

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. 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.” 0 David Duffy is boss of CYBG, owner of the Clydesdale Bank