Demo day hosted by FinTech Sandbox revisited the need for greater diversity among financial industry leaders and the focus of regulators on transparency.
On Thursday morning, a batch of startups in a virtual demo day hosted by FinTech Sandbox talked up ways they might address financial gaps that incumbents in the market have not yet tackled. This was one of the events held as part of New York Fintech Week and included some perspectives from the public sector on financial inclusion. “Since 2014, we’ve worked with over 260 startups and built a global, collaborative fintech community,” said Kelly Fryer, executive director with FinTech Sandbox, a nonprofit that offers financial data feeds and APIs for development purposes to fintech startups. She led the session with a discussion with Adrienne Harris, superintendent of the New York State Department of Financial Services. As a financial regulator whose territory includes traditional banks, insurers, and virtual currency companies, Harris said her office holds a vast remit in this space. “My goal for the department is to build an equitable, transparent, and resilient financial system that benefits individuals and supports businesses,” she said. Harris, who was sworn in January, said there is a need to increase representation of diverse individuals in the financial industry.
