New York Fed launches fintech advisory group

New York Fed launches fintech advisory group

The Federal Reserve Bank of New York has set up a fintech advisory group, bringing together expertise from the worlds of financial services, technology, academia and non-profits.

The group, which will hold its first meeting on 1 April, is designed to give Fed leaders a clear point of contact with senior representatives and thought leaders from the fintech sector.

The group will give its views and perspectives on emerging fintech issues, the application and market impact of new technologies, and the potential impact on the New York Fed’s ability to achieve its missions.

Among the members are Barclays CTO Lee Braine, TransferWise head of banking Andrew Boyajian, MIT's Gary Gensler, DTCC CEO Michael Bodson, and Beek Center for Social Impact and Innovation executive director Sonal Shah.

Kevin Stiroh, head of the supervision group at the New York Fed, says: "The Fintech Advisory Group will provide the New York Fed with a more complete picture of the rapidly evolving fintech landscape."

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