Financial Technology Association

That's a wrap on our third-annual CEO Fly-In! It was terrific to bring our member company leaders to DC for meetings with policymakers and regulators about the future of finance. As our lives become more digital, it’s critical to modernize our financial services and regulations so more people can benefit from responsible innovation. Thank you to all our CEOs and leaders in Congress and the Administration for productive, thoughtful discussions. #PoweredByFintech

Thank you to everyone who attended our live event today with Semafor, "Banking on the Future: The Next Era of Fintech." #Fintech is driving competition that benefits consumers, small businesses, and entrepreneurs. It was terrific to bring together industry leaders, regulators, and policymakers for insightful conversations about the future of finance and digital innovation. Thank you to all our speakers, including Rohit Chopra, Director of the Consumer Financial Protection Bureau, Kenneth Lin, Founder and CEO of Intuit Credit Karma, Jonathan McKernan, Director at the Federal Deposit Insurance Corporation (FDIC), Jennifer Taylor, President of Plaid, Jennifer Kuperman, Chief Corporate Affairs Officer of Chime, Matt Oppenheimer, Co-Founder and CEO of Remitly, Senator Cynthia Lummis, Carl Slabicki, CTP, AAP of BNY, and Guilherme Horn, PhD of WhatsApp. Watch the full event here ➡ https://lnkd.in/d5iJjWY9 Photo Credit: Semafor/Tierney Cross

Thanks to Semafor and the Financial Technology Association for today’s session on Banking on the Future: The Next Era of Fintech, which comes just two days after the FTA’s new policy agenda on the Future of Finance, a blueprint for putting the U.S. on a pathway for innovation. It was wonderful to hear QED portfolio company CEOs Matt Oppenheimer share why speed and price only matter under the wider umbrella of trust and it was great to listen to Kenneth Lin discuss why there needs to be more space for fintechs to innovate in a way where they’re not immediately regulated like a multi-billion dollar incumbent. CFPB director Rohit Chopra discussed the love-hate dynamics of bank-fintech partnerships and why BNPL can be an important competitive offering as long as it’s not built on legal arbitrage, and FDIC director Jonathan McKernan said legacy systems of larger, entrenched incumbents are ripe for creative destruction within the guidelines of safety and soundness and consumer protection. Meta’s head of WhatsApp Guilherme Horn highlighted Brazil’s sophisticated financial ecosystem and WhatsApp’s non-negotiable priority of encryption and security, and Carl Slabicki at BNY discussed the adoption of FedNow and why instant payments for B2B payments, AP and AR will be a long-term game. Plaid president Jen Taylor described open banking as the first step to open finance, and Wyoming Senator Cynthia Lummis said crypto was one use case to protect against the dollar being weaponized and that she expected a greater emphasis on digital assets if the GOP takes control of the House in November. Apologies for the poor photos. My phone is a potato.

Thank you, Zach Warmbrodt and POLITICO, for speaking to FTA's President & CEO, Penny Lee, about our new Future of Finance agenda and our #fintech leaders in town today. READ the Morning Money Q&A below ⤵ Fintech leaders in town — MM caught up with Financial Technology Association CEO Penny Lee as the group’s members gather in Washington this week. The trade represents companies including PayPal, Intuit, Stripe, Block, Chime and Klarna. The association rolled out a new “Future of Finance” policy agenda before with officials from the White House, the Treasury Department, the Federal Reserve, the FDIC and Congress. One of FTA’s priorities on the Hill is laying the groundwork for legislation that would let non-bank firms access Fed services. The group is also trying to get feedback on the issue from the Fed itself. Its pitch is that such a change would reduce costs for customers, enable faster payments and make it easier for consumers and businesses to move money. “That is something we know that will likely require a statutory change,” Lee said. “So we have begun those conversations on Capitol Hill. One, what does the pathway look like? Does it require a payment charter? Does it require certain other statutory changes to be able to allow that to happen?” https://lnkd.in/eri9Y5EP

Fascinating intersection of #fintech policy and innovation at Financial Technology Association Semafor Next Era of Fintech conference! Panel with Chime Jennifer Kuperman and Plaid Jen Taylor discussing the benefits of #openbanking, heading towards #openfinance where consumers are enabled to transact more easily, safely and equitably. Empowering consumers and increasing access is a must. Bravo to Penny Lee Miranda Margowsky Avery Jaffe Bennett Richardson

LIVE NOW: Watch our live event with Semafor, "Banking on the Future: The Next Era of Fintech." Thank you to our sponsors, Intuit and Chime! #PoweredByFintech #Innovation WATCH HERE ⤵ https://lnkd.in/d5iJjWY9

📣 Exciting News: We’re thrilled to welcome Banking Circle Group, a banking and payments leader for the new economy, as FTA’s newest member. Banking Circle Group is a unique combination of a world-class technology company and a fully licensed financial services company, delivering fast, low-cost global payments and banking services by connecting directly to the world’s clearing systems. With roots in Europe, Banking Circle Group recently expanded operations to the United States, gaining a special purpose banking “innovation” charter in the state of Connecticut. “Companies like Banking Circle are powering banks and fintechs with seamless, interoperable solutions to transact across borders,” said Penny Lee, President and CEO of FTA. “We are excited to join FTA’s ecosystem of fintech innovators shaping the future of finance,” said Livia Benisty, Chief External Affairs Officer at Banking Circle Group. “We share FTA’s commitment to ensuring the U.S. remains at the forefront of financial innovation and look forward to working with other leading companies to advocate for modernized financial policies and regulations.” Learn more below 🔗 ⬇️ https://lnkd.in/eBy4e8VU #PoweredByFintech

Can't join us in person tomorrow? RSVP to watch the live stream of Semafor's live event on the next era of #fintech. Hear from Consumer Financial Protection Bureau Director Rohit Chopra, Senator Cynthia Lummis, Federal Deposit Insurance Corporation (FDIC) Director Jonathan McKernan, Intuit Credit Karma Founder & CEO Kenneth Lin, Remitly Co-Founder & CEO Matt Oppenheimer, Plaid President Jennifer Taylor, Chime Chief Corporate Affairs Officer Jennifer Kuperman, and others. RSVP here ➡ https://lnkd.in/eTFdvFsa #PoweredbyFintech #Fintech #Innovation

Thank you, Punchbowl News and Brendan Pedersen, for profiling our Head of Government Affairs, Sarah Mamula, as we officially unveil our new #FutureofFinance policy agenda. Check out this exclusive interview with Sarah in the Sunday Vault, where she discusses her transition to the #fintech industry, our work championing the value of fintech for consumers, small businesses, and entrepreneurs, and our vision for the future of #fintech policy. READ the Punchbowl profile here ➡ 🖇 https://lnkd.in/emYMXCYn CHECK OUT our Future of Finance agenda here ➡ 🔗 https://lnkd.in/euPGB7GR

📣 New speakers announced! Join us this Wednesday, July 10, for our live event with Semafor on the next era of #fintech. We're excited to hear from Rohit Chopra, Director of the Consumer Financial Protection Bureau, Senator Cynthia Lummis, Jonathan McKernan, Director at the Federal Deposit Insurance Corporation (FDIC), Carl Slabicki, CTP, AAP of BNY, and others, including FTA CEOs and leaders Kenneth Lin of Intuit Credit Karma, Jennifer Taylor of Plaid, Matt Oppenheimer of Remitly, and Jennifer Kuperman of Chime. Make sure to RSVP here to save your spot: https://lnkd.in/eTFdvFsa