U.S. regulators speak out: Deeply explore the inside story of the integration of banks and financial technology
The U.S. financial regulatory field has ushered in a new trend. The Federal Deposit Insurance Corporation (FDIC) has joined hands with the Federal Reserve and the Office of the Comptroller of the Currency to send a strong signal to fully unveil the mystery of the intertwined relationship between banks and financial technology companies. The three major regulatory agencies jointly issued a statement, clearly stating that they are very interested in the details of the arrangements involving deposits, payments, loans and other core areas in the cooperation between the two parties, and require the industry and the public to contribute insights and conduct in-depth discussions on the nature, potential impact and efficient risk management strategies of these cooperative relationships. This move not only demonstrates the regulators' high attention to the trend of financial technology integration, but also indicates that the future banking and technology integration ecosystem will usher in more stringent scrutiny and regulation.
