Alongside nine other members, Michael Bodson, president and CEO of DTCC, has joined the Fintech Advisory Group, which has been launched by the Federal Reserve Bank of New York.
The Fed noted that the members are selected based on their expertise across the breadth of issues relevant to financial technologies.
The Fintech Advisory Group aims to provide bank leaders with a high-level platform to establish clear points of contact with senior representatives and thought leaders from the financial technology industry and consumer organisations.
According to the Fed, the primary goal of the advisory group is to present views and perspectives on the emerging issues related to financial technologies.
Views and perspectives related to the application and market impact of these technologies, and the potential impact on the New York Fed’s ability to achieve its missions, will also be presented.
The group’s first meeting will be 1 April 2019, and members will participate on a rotational basis.
Kevin Stiroh, executive vice president and head of the Supervision Group at the New York Fed, said: “The Fintech Advisory Group will provide the New York Fed with a more complete picture of the rapidly evolving fintech landscape.”
“The advisory group will also gather insights that may inform our interaction with market participants and institutions, our training and hiring efforts, and the application of innovative approaches for internal business use.”
