The American Fintech Council (AFC) has announced a strategic partnership with BankTech Ventures, a prominent investment fund supported by over 100 banks. This collaboration is intended to bolster responsible innovation and enhance compliance within the fintech and community banking sectors.
Phil Goldfeder, Chief Executive Officer of AFC, expressed enthusiasm for the partnership, stating: “BankTech Ventures’ deep integration into the community banking ecosystem and expertise in identifying innovative solutions make them an invaluable partner in promoting responsible growth and collaboration.” He emphasized that this alliance aims to ensure fintech companies innovate responsibly while creating opportunities for financial institutions and their customers.
BankTech Ventures will provide funding and support to fintechs as they navigate regulatory requirements necessary for partnering with banks. Pam Kaur, Head of Bank Technology at BankTech Ventures, explained: “We work closely with our partner banks to validate their needs, identify opportunities, and ensure that fintech solutions are not only impactful but also aligned with the specific requirements of the banking sector.”
The partnership is set to empower fintech companies by delivering innovative solutions across various areas such as compliance, cybersecurity, data management, and customer engagement. Carey Ransom, Managing Director of BankTech Ventures, noted: “As a strategic partner of the American Fintech Council, we are excited to support fintechs in becoming bank-ready.”
AFC plans to collaborate with BankTech Ventures on industry initiatives that include educational programs and policy advocacy. These efforts aim to address the evolving needs of the financial ecosystem.
The AFC represents major financial technology companies and innovative banks offering embedded finance solutions. Its mission is to promote a transparent financial system through responsible innovation in financial services.
BankTech Ventures focuses on investing in leading bank technology companies while ensuring these firms can effectively collaborate with community banks. The organization aims to accelerate innovation within banking by bringing together bankers, industry organizations, and tech founders.
For more information about BankTech Ventures' initiatives or partnerships follow them on LinkedIn or X or visit their website at https://www.banktechventures.com/.