FinCEN ‘Innovation Hours’ in September seeks demos of how to preserve privacy in financial services innovation

A special virtual Innovation Hours program on the role of privacy-preserving principles in developing technical solutions that enhance financial services innovation while countering illicit activity and national security risks will be held Sept. 9 by Treasury’s financial crimes enforcement unit, the office said Wednesday.

The Financial Crimes Enforcement Network (FinCEN) said it is encouraging participation by companies developing solutions to privacy issues, such as homomorphic encryption, zero-knowledge proofs, and other technology that balances privacy and financial integrity. “This could include FinTech companies, RegTech companies, venture capital firms, and financial institutions,” the agency said.

“The agency is seeking demonstrations that highlight how the innovative solutions work and how financial institutions or business and retail consumers might use them, or how they may support private- and public-sector efforts to enhance our financial integrity, while protecting national security and personal privacy,” FinCEN said. It said each meeting will last no longer than an hour.

Interested companies should submit a request online no later than July 23 and provide applicable background information about their firm’s business and innovative products.

FinCEN to Host Innovation Hours Program Workshop on Privacy Enhancing Technologies

Submit a request online