Fed launches fintech ‘Innovation Office Hours’ series

A series of sessions where banks and companies engaged in emerging financial technologies – or fintech – can meet one-on-one with Federal Reserve staff members to discuss fintech developments and ask questions was announced Tuesday by the Federal Reserve Board.

The first of the Fed’s Innovation Office Hours opportunities (which appear to be formatted similarly to the sessions of the same title long offered by the Office of the Comptroller of the Currency) is slated Feb. 26, 2020, at the Federal Reserve Bank of Atlanta, and registration is open now. The online registration page provides that individual meetings are limited to 50 minutes and can be arranged by appointment only.

These sessions, co-hosted with Reserve Banks, “may be particularly helpful to community banks and their potential fintech partners,” the Fed said.

The Fed on Tuesday also launched a new section of its website specifically focused on fintech innovation. This section “will serve as a central hub of information for stakeholders interested in learning about and engaging with the Board on innovation-related matters,” the regulator said. The section features the latest Federal Reserve Consumer Compliance Supervision Bulletin and other Fed materials. The latest bulletin summarizes supervisory observations regarding fintech and practical steps institutions can consider when engaging in fintech activity.

Register for Feb. 26 Innovation Office Hours session in Atlanta

Fed’s Innovation website section