AFC Summit 2024 | iDENTIFY in the Community

The American Fintech Council held its annual policy summit on November 19 at the Westin in Washington, DC. With a sizeable amount of attendees, the panel discussed some interesting topics, such as consumer protection, regulatory modernization, and technological innovation. Packed with extensive discussion, iDENTIFY's attendance at this event was considerable as we've made many strides this year with our mission to unify bank data. The importance of the panels lays a testament to our core values at iDENTIFY and how we're staying on top of regulations and industry changes for our clients.

Regulatory Modernization

Regulatory modernization is known as the bedrock of efforts to improve regulatory processes — and thereby promote a fairer and more inclusive financial system — and is the adoption of a digitally focused approach to financial oversight by U.S. and international government agencies.

At AFC Summit 2024 - one of the panels, "Regulatory Modernization: At Pace With Consumer Financial Innovation," noted the growing need for compliance strategies aligning with fintech innovations. Simplicating the regulatory framework is essential for Fintechs to stay ahead of compliance as they innovate for their customers.

iDENTIFY's mission to unify bank data aligns with this as we understand how data hygiene is essential to ensuring that our banking clients can understand the validity of their CORE data - and ultimately maintain compliance requirements with a more straightforward framework. Creating considerable solutions over the years, we leverage Snowflake's data cloud - as a Snowflake Select Partner for the infrastructure benefits that come with faster querying and a modern approach compared to traditional batch systems. The benefits of banks migrating their CORE data to Snowflake supersede the initial investment it takes to migrate to modern fintech.  

Financial Inclusion and Equity

Another note-able event was Fintech: The Key to Financial Equity, Justice, and Inclusion, hosted by LatinoProsperity. Discussing how fintech innovation can bridge the gap for underserved communities was refreshing, as it re-emulated the importance of trust and accessibility in our client's infrastructure and how we enable them to do so.

iDENTIFY's complete support of financial inclusion for underserved communities is a high priority, as we have team members worldwide who are excellent in their craft.  

Moving Forward

Not only are these events excellent for networking and finding new banks which we can share our vision of unifying bank data with, but it's also a great place to stay up to date with changes in regulations and an excellent opportunity to connect with policymakers moving forward. At iDENTIFY, we're proud to be part of a thriving community that innovates for traditional systems - while staying compliant and mitigating risk. As we focus on compliance, security, and visualization, we pride ourselves on getting our clients back to what they love doing - working on their business. With their CORE data working seamlessly, we firmly believe that these faster-to-market solutions and data cleanliness will give our clients peace of mind and an even better strategy.

Are you browsing from the community? Or are you one of our esteemed clients? Follow our blog to see how we're shaping the fintech landscape. 

We've got some exciting new resources for our banking clients, as our sample dashboard can be found HERE. Contact your account manager for more details. 

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