New Alliance Launches to Help Regulators Deploy Tech and Build Smarter Financial Regulation
Backed by Fintech Entrepreneurs and VCs, Alliance for Innovative Regulation (AIR) Launches at Money20/20
Washington DC – Tuesday, October 29, 2019 – To help regulators embrace technology and integrate innovation into their organizational DNA, Jo Ann Barefoot, former Deputy Comptroller of the Currency, and David Ehrich, co-founder of fintech credit card startup Petal, announced today the launch of The Alliance for Innovative Regulation (AIR). The organization connects fintech leaders, financial institutions, regulatory agencies—and their innovation teams—to work together on modernizing the financial regulatory system. Thomas Curry, former Comptroller of the Currency and partner at Nutter, McClennen & Fish, will serve on the organization’s board of directors.
AIR is building on efforts in the UK—including tech sprints—to advance a more reliable, secure, and transparent financial system. AIR has already raised $2 million in funding from leading fintech entrepreneurs and venture capitalists, including a 3-year seed grant from Flourish, a venture of The Omidyar Group.
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