White House officials recently met with fintech industry leaders, investors, and regulators at the Fintech Summit. The event focused on how government agencies can regulate fintech while still encouraging innovation and economic growth. Fintech Collective co-founder Brooks Gibbins was in attendance to add a perspective on the fintech start-up ecosystem.
“Technology isn’t just changing the financial services industry, it’s changing the way consumers and business owners relate to their finances, and the way institutions function in our financial system,” said Ms. Harris, who led the event. “From consumers’ financial health to growing and managing small businesses; from cybersecurity to helping developing nations prosper; and from big data to blockchain—we spent the day identifying those areas where partnership across industries and between the public and private sectors can help advance our financial well-being and economic prosperity.” The summit, which was closed to the news media, included officials from the Treasury Department, the Small Business Administration, and leaders in both fintech and traditional banking.