Ever Evolving, Never Irrelevant: The Philadelphia Fed’s Fintech Conference

In his opening remarks at the Eighth Annual Fintech Conference, Philadelphia Fed President and CEO Patrick T. Harker spoke to the “always evolving” fintech landscape and the importance of “understand[ing] the full discussion” by inviting “all views into these conversations, so we can assure ourselves of actual progress that works for those of us in this room and also for consumers.” Harker noted that the conference extends beyond conversations about new technological developments in fintech, such as instant payment systems, stating that attendees “are not just talking about the changes in technologies but we’re also being forced to contend with the need to change the regulatory environment, as well.” Harker encouraged attendees to collaborate and discuss methods “that provide both an operational benefit to the financial system and a tangible benefit to the end-use consumers beyond convenience.”