Bank-fintech partnerships are the future of banking | Crypto

Bank-fintech partnerships are the future of banking

A leading U.S. bank regulator said that his caution Over banks partnering with fintechs is not meant to stifle those arrangements, but rather reflects his concern that firms must adequately gauge their risks.

– Michael Hsu, the acting Comptroller of the Currency, told Reuters in an interview that policymakers may be devoting too much time and energy to thinking about cryptocurrency, at the expense of figuring out the best way to police other types of financial technology.

– Hsu said that bank-fintech partnerships are here to stay and that the proper regulatory approach to fintech partnerships remains unclear, as agencies work to get a handle on the various issues at play and then determine what authorities to use.

– on cryptocurrency, Hsu said He was actually worried policymakers in Congress and regulators are overextending themselves to the detriment of other areas.

NFQMR3ULZVOD3G2IQTJTAKDKYU Bank-fintech partnerships are the future of banking

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