FinTech Innovation & Regulation Working Group

CFSI’s FinTech Innovation and Regulation Working Group brings together CFSI network members and other stakeholders to help create a regulatory environment that supports innovation while ensuring consumer protection and promoting financial health.

The current regulatory environment in the U.S. presents numerous challenges that make it difficult for innovators to build and scale new products. At the same time, regulators are increasingly seeking to engage with industry stakeholders around issues related to fintech and innovation.

Under this broad umbrella, the working group will explore three key themes in 2017:

  1. How can fintech companies work effectively, and within regulation, across state borders?
  2. How can financial institutions (FIs), aggregators and fintech companies share consumer financial data in a secure and inclusive way that supports innovation?
  3. How can FIs and fintech companies leverage alternative data to increase financial inclusion and financial health, while maintaining consumer privacy, and without potential bias?

2017 Goals

  • The working group will bring CFSI network members together with influential advisors with expertise on these topics to explore promising solutions.
  • The working group will identify key regulatory hurdles that innovators face, inhibiting their ability to offer high-quality financial products and services and explore suggested solutions.
  • The working group will identify strategies to engage with regulators and stakeholders to address these solutions.
  • The working group will hold in-person meetings at CFSI events (EMERGE and Network Summit).
  • Members will benefit from peer learning as they share their own initiatives, products, and research.

Membership Expectations

  • Each member brings a perspective on fintech innovation and regulation, based on their current or previous role within a fintech provider, financial institution, governmental agency, or other stakeholder organization.
  • Members attend working group meetings and contribute to discussions regularly.
  • The working group is made up of a diverse group of financial service providers of all sizes, mission-based organizations, and subject matter experts.
  • Working group members have an equal voice in contributing to the agenda and discussion. Sponsorship does not elevate a member’s influence on the objectives or output of the working group.