Innovate Finance and OnDeck set up Transatlantic fintech policy group

Innovate Finance and OnDeck set up Transatlantic fintech policy group

The UK's Innovate Finance and US marketplace lender OnDeck have launched a Transatlantic Policy Working Group (TPWG) to share and exchange information on regulatory and policy issues impinging on the emerging fintech scene.

The two organisations say the TPWG will respond to cross-sector fintech issues, from the use of data and open APIs in banking, to encouraging a competitive environment in payments infrastructure, as well as issues pertaining to financial inclusion and the growth of automated investment advice.

The Group has held its first talking shop at Google's Washington DC headquarters, to discuss US and UK approaches to policy and regulation in the fintech space, with representation from The Milken Institute, PayPal, Seedrs and Hogan Lovells.

Daniel Morgan, head of policy and regulation at Innovate Finance says: " The transatlantic policy working group represents a great opportunity to share key insights, best practices and knowledge between US and UK fintech stakeholders, and will help drive real change in the public policy arena when it comes to the development and growth of a vibrant fintech sector that promotes transparency and competition in financial services."

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