Financial Technology Association

⚖️ Fintechs are regulated by state and federal governments and are subject to many of the same regulatory frameworks that govern the entire U.S. financial services industry. They follow laws designed to protect customers and ensure financial institutions operate in a safe and sound way. 🗣️ As leadership shifts in Washington, our industry recognizes the value of clear, appropriate regulations to provide certainty, create guardrails, and foster trust and security. Learn more about FTA’s Policy Roadmap for the #FutureOfFinance ➡️ https://lnkd.in/eFfY_N6k

📢 Today, we responded to the Federal Deposit Insurance Corporation (FDIC)’s proposed rule on custodial deposit accounts. We support the FDIC’s efforts to ensure that custodial deposit accounts are subject to robust financial controls and recordkeeping processes. However, the proposal is overly broad and should be narrowed to only apply to custodial deposit accounts eligible for FDIC pass-through insurance to multiple depositors. 🗣️ “Leading fintech companies reconcile accounts on a daily basis, and we believe that is a best practice for the entire industry,” said Penny Lee, President and CEO of the Financial Technology Association. “Where we differ is in the treatment of certain “for the benefit of accounts” based on the use case. We continue to believe that regulations should be fit for purpose and urge the FDIC to tailor this proposal appropriately.” Read our full response here: https://lnkd.in/ejJGGias #Fintech #Regulation

More and more Americans are turning to Buy Now Pay Later (#BNPL) to split the cost of a purchase into zero-to-low-interest installments with clear repayment terms. A recent PYMNTS report found that nearly two-thirds of BNPL users find it helps them manage finances, and over 75% express high satisfaction with the product. At a time when credit card debt is at an all-time high, BNPL provides a responsible, low-cost alternative that helps people manage their payments responsibly. Notably, BNPL loans have a low default rate (2%) compared to credit cards (10%). Read more in PYMNTS👇  https://lnkd.in/eum4XeQw #PoweredByFintech #ConsumerFinance

🚀 In today’s digital world, #fintech is the norm. 79% of Americans feel confident using it to manage their finances.  🔐 We're proud to represent leading fintech companies that put trust and safety first. They use strong encryption, authentication, and top-notch security measures to keep users safe. Plus, their user-friendly designs and clear terms and conditions emphasize their focus on safeguarding consumers. Check out FTA’s #FutureOfFinance Roadmap to learn more ➡️ https://lnkd.in/eFfY_N6k  

Small businesses are the backbone of the American economy, creating jobs and stimulating economic growth – yet many are underserved by traditional banks. That's where Bluevine steps in. As Co-Founder and CEO Eyal Lifshitz explains in a Q&A with Galileo Financial Technologies, Bluevine provides an all-in-one banking platform tailored for small businesses. By offering products like high-yield interest on checking accounts or benefits like no monthly fees and free ACH transfers, Bluevine helps put more money back in the pockets of small businesses. Hear directly from Eyal Lifshitz himself and watch the Q&A below ⬇️

Fintech companies have long used #artificialintelligence and #machinelearning (AI/ML) responsibly to lower costs, increase efficiency, and expand fairness in the financial system. For example: ✅ Improve #credit underwriting using larger data sets to create fairer outcomes for borrowers ✅ Enhance compliance and #fraud detection by leveraging technology and data insights to identify suspicious activities ✅ Ceate efficient back-office processes by automating and streamlining routine tasks   ✅ Offer personalized services by anticipating needs and offering customized services like savings recommendations, bill pay reminders, personalized cashback offers, and more ✅ Expand investment opportunities by breaking down barriers, making expert financial advice and sophisticated #investment tools available to all Americans Learn more in FTA’s Roadmap for the Future of Finance ➡️ https://lnkd.in/eFfY_N6k #PoweredByFintech #FutureOfFinance #AI #ML

🚨 The deadline is approaching to apply for our upcoming Bank + Fintech Arrangements TechSprint to explore regulatory issues relating to the evolving business models of community #banks, with a focus on relationship models between banks and #fintech firms. The deadline to apply is January 24. 📅 February 24-27, 2025 📍 Orrick LLC • 2100 Pennsylvania Ave NW • Washington, D.C. 20037 🏢 In-person event • Space is limited Learn more and apply now: https://lnkd.in/eTqgts_B This event is being held in collaboration with the New York State Department of Financial Services. Thanks to our supporters of the event: AlixPartners Amazon Web Services (AWS) American Bankers Association Chime DLx Law Financial Technology Association Klaros Group LoanPro Mercury Orrick, Herrington & Sutcliffe LLP Sardine Unit Upgrade, Inc. Zest AI #BFAtechsprint #innovation #technology #techsprint

🚀 Fintech is transforming online payments, making them simpler, faster, and more secure for consumers, small businesses, and startups. Here’s how:  💫 Seamless Integration: Easy for businesses to add to their websites and apps  💫 Faster Transactions: Near real-time payments mean quicker access to goods and services for consumers & faster cash flow for businesses  💫 Mobile Payments: Make payments with your smartphone 💫 Enhanced Security: Advanced tech keeps your money safe  💫 Cross-Border Payments: Easier and cheaper to send money abroad  💫 User-Friendly: Intuitive interfaces make payments easy to complete  Learn more in FTA’s Roadmap for the Future of Finance ➡️ https://lnkd.in/eFfY_N6k #PoweredByFintech #FutureOfFinance #Payments #Remitances 

💪 Fintech fuels small businesses and startups – from that first spark of an idea to managing a growing team and making sales, fintech supports the entire lifecycle of a small business or startup. 💡 Brilliant Idea: Digital access to legal and tax expertise so entrepreneurs can set up their companies in a fast, safe, and easy way. 💰 Secure Capital: Streamline access to capital through innovations like cash-flow underwriting that provide a real-time snapshot of finances. 🤝 Support Employees: Manage equity for employees and offer personalized retirement accounts and financial wellness programs. 💯 Smart Management: Optimize spend management and streamline time-intensive tasks like accounting, bill pay, and expense management. 💸📲 Make Sales: Tools to process customer payments anywhere, anytime – online and on smartphones. Learn more in FTA’s Roadmap for the Future of Finance ➡️ https://lnkd.in/eFfY_N6k #PoweredByFintech #FutureOfFinance #SMB #Startups #SmallBusinesses

We're growing! FTA is hiring a State Government Affairs Director to grow our footprint in the states and advocate for #fintech policy issues. Click below to see more and apply. #PoweredByFintech https://lnkd.in/eWfTrkhp