New York Fed launches fintech advisory group
The Federal Reserve Bank of New York (New York Fed) has set up an advisory group to bring bank leaders together with senior figures from the fintech industry, reports Jane Connolly.
A more complete picture of the rapidly evolving fintech landscape.
Comprised of top representatives and thought leaders from the financial technology space, the group will discuss emerging issues in the industry, how new technologies can be applied and what impact these could have on the market.
Kevin Stiroh, executive vice president and head of the supervision group at New York Fed, says the advisory group would provide the bank with a more complete picture of the rapidly evolving fintech landscape.
“The advisory group will also gather insights that may inform our interaction with market participants and institutions, our training and hiring efforts, and the application of innovative approaches for internal business use,” Kevin says.
The group aims to bring together a diverse range of representatives from across the fintech industry on a rotating basis, including Lee Braine, chief technology officer at Barclays, TransferWise’s head of banking, Andrew Boyajian and Google Cloud’s director of financial services, Ulku Rowe.
