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FDIC fintech certification plan questioned over partnership risks
Original: The FDIC's # FinTech certifications end where partnership risks begin The FDIC's plan to help community banks evaluate p
The FDIC is proposing certifications to help community banks evaluate potential fintech partners. Commentators argue the plan cannot account for the unique, specific risks that emerge when two companies operate in partnership, meaning certification alone may not protect banks entering fintech collaborations. The debate highlights ongoing concern over how smaller banks should safely adopt fintech services while regulators try to standardise due diligence.
Why now: Regulators' efforts to guide community bank fintech partnerships are being debated as banks weigh such collaborations.
FDICcommunity banksfintech firms
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