Starling’s Co-founder Jeff Kupfer was invited to participate at the IIF Digital Finance Symposium in Washington DC on May 29, 2019. He appeared on the “sandboxes” planned along with the Chief FinTech Officer of the Monetary Authority of Singapore and the Deputy Director of the Ontario Securities Commission’s LaunchPad.
Jeff and his fellow panelists discussed how industry and the public sector are seeking ways to unleash innovation for more efficient and effective financial services while containing the risks. They focused primarily on sandboxes, including the newly formed Global Financial Innovation Network (GFIN), which is a group of 35 regulators and international organizations led by the UK’s Financial Conduct Authority. After describing how the GFIN selected Starling to be one of eight companies to test a cross border pilot project, Jeff explained the benefits for all involved – encouragement for banks to be the “first mover” and trial new technologies, knowledge sharing for participating regulators, and development of common metrics.
The IIF is a global association of the financial industry with almost 450 members from 70 countries. Its mission is to support the financial industry in risk management, develop sound industry practices, and to advocate for policies that foster global financial stability and economic growth.