Financial Technology Association

This morning, we filed a motion to intervene in the lawsuit brought by the Bank Policy Institute (BPI) and Kentucky Bankers Association challenging the Consumer Financial Protection Bureau’s Section 1033 open banking rule. By moving to intervene, we seek to preserve consumers’ right to securely access and control their financial data in the digital age, helping ensure ongoing innovation and U.S. global competitiveness. Consumers must have the right to control their financial data. Strong consumer data rights are critical to America’s digital economy and are core to how Americans manage their money today. By suing to prevent consumers from exercising these rights, the nation’s biggest banks are trying to prevent competition and limit consumers’ ability to use the apps and services of their choice. We stand with consumers’ right to control their personal financial data and urge the Trump Administration to uphold this measure to promote innovation and competition. Read more here 🔗 ⤵️ https://lnkd.in/egG9jZqJ #OpenBanking #PoweredByFintech #Innovation #ConsumerDataRights

We’re looking forward to this year’s Fintech Meetup! The agenda is packed with FTA member companies. Mark your calendar for these insightful sessions ⬇️ 💥 Luke Voiles, CEO, Pipe History Repeats itself: How Fintechs Are Seizing Business Lending Opportunities From Banks Monday, March 10th @ 3:15 PM PT 💥Roy Ng, EVP, Chief Business Officer - Platform & Enterprise, FIS Winning Partnership Models in BaaS Tuesday, March 11th @ 8:30 AM PT 💥 Tim Hong, CPO, MoneyLion Unleashing Open Finance's Transformative Potential for Banking and Payments Tuesday, March 11th @ 8:30 AM PT 💥Lookman Olusanya, CFO, Square Overcoming Economic Hurdles and Woes With the Payments Processors Tuesday, March 11th @ 8:30 AM PT 💥Camilla Matias, COO, Brex Is Software Eating the World, or is Fintech Eating Software? Tuesday, March 11th @ 9:15 AM PT 💥Jason Lee, Chief of Chime Enterprise, Chime Acquire, Exit, or IPO: Expansion Opportunities for Scaling Fintechs Tuesday, March 11th @ 1:00 PM PT 💥Sarah Kirshbaum Levy, CEO, Betterment Keynote Tuesday, March 11th @ 2:00 PM PT 💥Eyal Lifshitz, Founder & CEO, Bluevine Panel: Creating Value & Driving Loyalty in Small Business Banking & Finance Wednesday, March 12th @ 9:15 AM PT 💥Penny Lee, President & CEO, Financial Technology Association Successful Applications of AI in Lending Wednesday, March 12th @ 9:15 AM PT 💥Eric Sager, COO, Plaid Reinventing Credit: Responding to New Lending Models Wednesday, March 12th @ 9:15 AM PT 💥Jack Connors, Head of Global Shopify Business, Stripe Everything You've Ever Wanted to Know About Enterprise GTM Strategy Wednesday, March 12th @ 9:15 AM PT 💥Nate Starrett, Global Head of Financial Services Partnerships, Stripe The Future of Consumer Banking: Navigating Digital Transformation and Evolving Expectations Wednesday, March 12th @ 10:00 AM PT 💥Michael Tsung, VP, Global Ecosystem Risk & Solutions, PayPal Tackling the Complexities of Modern Payment Fraud Thursday, March 13th @ 10:15 AM PT 💥 Kelly Beatty, Chief Performance Officer & Head of Global Solutions, FIS Global Learn more ➡️ https://fintechmeetup.com/

We applaud the selection of former National Credit Union Administration (NCUA) Chairman Rodney E. Hood to serve as Acting Comptroller of the Currency. Acting Comptroller Hood brings a wealth of experience to the role, including a strong appreciation of the positive impact of financial innovation and bank-fintech partnerships. We look forward to working with him on our shared goals of promoting financial competition, choice, and inclusion. Read more ⤵️ 🔗 https://lnkd.in/drgNeiWx

We are excited to welcome White & Case LLP as FTA’s newest Legal Affiliate! Their expertise in financial technology issues – including #ArtificialIntelligence, digital payments, consumer finance, data privacy, and more  – will be invaluable as we work to shape the future of finance. We look forward to collaborating with Rachel Rodman, Pratin Vallabhaneni, and the talented team on various #fintech issues. Visit our Join Us page to learn more about FTA affiliate membership → https://lnkd.in/eSSinGj4. #PoweredByFintech #Innovation #FinancialServices

🚀 We’re proud to represent the innovative #fintech companies driving the future of finance. Congratulations to the FTA CEOs and founders recognized by FinTech Magazine: ⭐️ Patrick Collison, CEO of Stripe ⭐️ Nik Storonsky, CEO of Revolut ⭐️ Kristo Käärmann, CEO of Wise ⭐️ Chris Britt, CEO of Chime ⭐️ Sebastian Siemiatkowski CEO of Klarna ⭐️ Henrique Dubugras, Co-CEO of Brex ⭐️ Zachary Perret, CEO of Plaid Read the article ➡️ https://lnkd.in/eEHtWuKD #PoweredbyFintech

We look forward to working with Secretary Bessent in his capacity as Acting Director of the Consumer Financial Protection Bureau and advancing our shared goals of promoting financial innovation, competition, and consumer choice. As Secretary Bessent takes on this role, we urge him to prioritize withdrawing harmful, overreaching rules that impede innovation, including rules governing digital payments, Buy Now Pay Later, and earned wage access products. Reversing these deeply flawed rules is a first step toward embracing innovation and charting a path forward that harnesses the benefits of digital financial services for all Americans. Learn more ⤵️ 🔗 https://lnkd.in/efzv67ks

🤝Register now for virtual Demo Day at the Bank+Fintech Arrangements TechSprint → https://bit.ly/BFADD! 📅 Thursday, February 27, 2025 🕘 9 am-2 pm ET 🆓 Free and open to the public virtually Featured speakers include: Adrienne A. Harris, New York State Department of Financial Services Michael Barr, Federal Reserve Board Jonah Crane, Klaros Group Jo Ann Barefoot, AIR Randy Repka, AIR After the insightful opening program, participating #TechSprint teams will present their prototypes to a panel of judges who will determine award winners. Featured judges include: Laurent Domb, Amazon Web Services (AWS) Nicole A. Elam, Esq., National Bankers Association Brian Graham, Klaros Group Kabir Kumar, Flourish Ventures Penny Lee, Financial Technology Association Tony Salazar, State of Maryland #BFAtechsprint #techonology #innovation #finance

📣 Sarah Kirshbaum Levy, CEO of Betterment, joined Bloomberg TV to discuss how Secure 2.0 is expanding retirement access and participation, especially through auto-enrollment and auto-escalation for small businesses. These commonsense, bipartisan measures help employees save for retirement without needing to opt in manually. But there is more to be done. To improve retirement savings, Levy suggests:  1️⃣ Expanding Secure 2.0 provisions to include all retirement plans, not just new ones.  2️⃣ Reducing friction that keeps employees from accessing their retirement funds when they leave jobs, avoiding high-fee accounts. Betterment plays a key role in supporting retirement readiness. By offering low-cost, automated retirement solutions, personalized advice, and investment strategies, Betterment helps individuals maximize their retirement savings and navigate economic uncertainty. Levy goes on to share that short-term economic anxiety, like rising prices, is impacting retirement savings, but with common-sense reforms and tools like Betterment, more hardworking Americans can save for the future. #PoweredByFintech #RetirementReadiness 📺 WATCH the full interview 👇 https://lnkd.in/ewvqA2W6

Innovative financial tools power the full life cycle of a small business – from accessing #capital to managing #expenses, streamlining #payroll, handling retirement benefits, or accepting digital #payments. We applaud Senators Todd Young, Jacky Rosen, Tedd Budd, and Jeanne Shaheen for introducing the Small Business Technological Advancement Act. This common sense legislation will make it easier for small businesses to access the digital financial tools for success. Learn more 🔗⤵️ https://lnkd.in/ehBbWMnM #SmallBusiness #PoweredByFintech

Fintech innovation is transforming how people interact with financial services. However, The Wall Street Journal's recent editorial misses the mark on a rule that allows consumers to take advantage of these digital services. As Penny Lee told the WSJ, "In 2024 the CFPB finalized a rule on #openbanking, which protects consumers’ rights to access and share personal financial data. The rule raises the bar for safety and security, moving the industry away from “screen scraping” toward secure interfaces that give consumers more control and transparency." "Thousands of institutions have access to and are adopting open banking. Without it, legacy financial institutions could block access to consumer data, curbing innovation and limiting consumer choice. It is a measure that helps consumers, promotes competition, and fosters free markets." Read Penny's full letter to the editor here ⤵️ 🔗 https://lnkd.in/egAKqeew