Alloy Labs and the AFC join forces to establish best practices and regulatory frameworks for the evolving financial industry.

Together, Alloy Labs and the American Fintech Council (AFC) will create and advance responsible innovation, industry best practices, and a strong regulatory framework for the financial industry of the future.

Building industry best practices, benchmarks, and tools for banks collaborating with fintechs or serving as providers of banking-as-a-service (BaaS) is the main goal of Alloy Labs.

In order to support the fintech industry, the new alliance will involve standard-setting, coordinated advocacy, thought leadership, and chances for education and training.

The CEO of the American Fintech Council, Phil Goldfeder, expressed his enthusiasm for Alloy Labs’s work in creating business solutions that drive the financial industry’s future and set standards.

In order to establish standards and advance the future of finance, “Alloy Labs has worked tirelessly to develop pragmatic business solutions,” according to Goldfeder. “As a trade association founded on standards and responsible innovation, AFC is uniquely positioned to support Alloy Labs’ work by leveraging their data and working to advance legislative and regulatory frameworks that guarantee the safe development of financial services.”

Financial inovation

Alloy Labs CEO Jason Henrichs, in the meantime, described how AFC’s leadership is in a unique position to lead industry advancement because of its deep understanding of banking, technology, and regulatory.

“We share a mission to advance responsible innovation that creates new sources of value for all constituents while promoting inclusion and consumer protection,” he stated. Our areas of cooperation and complementary operations will allow us to contribute to the industry’s maturity more swiftly than we could each alone.

The two will coordinate their activities as strategic partners in order to effectively serve their membership and their common goal. In addition, this cooperative strategy seeks to balance consumer protection, regulatory compliance, and consumer access.

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