US OCC names Prashant Bhardwaj to lead new fintech office
The US Office of the Comptroller of the Currency (OCC) has established a new office for fintech and appointed Prashant Bhardwaj to lead the unit as deputy comptroller and chief financial technology officer.
OCC appoints Prashant Bhardwaj to lead new fintech office
The regulator announced it was planning to set up an Office of Financial Technology last year. It says the new fintech-focused unit will help “bolster its expertise and ability to adapt to a rapidly changing banking landscape” and provide “strategic leadership, vision and perspective” for its financial technology activities and related supervision.
Bhardwaj, who has more than 30 years of experience across financial services, will assume the new role on 10 April 2023. He will lead a team analysing and evaluating relevant trends in fintech as well as emerging and potential risks and the potential implications for OCC supervision.
Particular attention will be paid to digital assets, fintech partnerships and other new technologies and business models that are being adopted by banks under the remit of the OCC.
“Financial technology is changing rapidly and bank-fintech partnerships are likely to continue growing in number and complexity,” says acting comptroller of the currency Michael Hsu.
