Note from the CEO: Great article making a case that the regulators can be your friend. And be the best fintech accelerator should they really want to help. Always best to have a joint goal and help each other. Kind of like Washington was designed to be way back when.
“My good friend Chris Skinner has been pointing out the different ways regulators around the world are supporting the FinTech ecosystem. And rightly so.
From setting up dedicated FinTech offices to providing sandboxed environments to safely try new tech, regulators in the UK, Singapore, Hong Kong and elsewhere are actively focused on financial services innovation.
In other words, along with their remit as policy makers, rule writers and enforcers, these regulators are now also taking on a business development role. This is a significant development, and it is to be welcomed. But if regulators want to be really effective, they need to approach this new role in the right way.
Here’s why I think so.”