Blog discusses intersection between fintech and regulation

Unless you have been living on a desert island for the past few years, you would be hard-pressed to miss the technological revolution that is sweeping our nation’s financial system and the larger global economy, ICBA’s Chris Cole and Charles Potts write in a new blog post.

Community banks have stepped up as leaders in their communities, leveraging technology to meet the challenges presented by COVID-19 and embracing opportunities to engage with their customers through digital solutions.

And now the tides are also shifting in favor of more innovative regulatory approaches as regulators begin to take a closer look at their roles and responsibilities to reduce unnecessary paperwork and streamline out-of-date regulatory requirements, they note.

“ICBA will continue to work closely with regulators, advocating on behalf of community banks, ensuring your best interests remain front and center … Because at the end of the day, if community banks flourish, the communities, and customers they serve will continue to thrive,” they wrote.