Google, Amazon, Apple and PayPal have teamed up in order to create Financial Innovation Now, a new advocacy group that aims to lobby political debate on new technologies issues, such as cybersecurity, real-time payments and online lending.
These tech companies have a shared interest in ensuring regulations are loosened around fintech! It must be mentioned that fintech startups attracted $12 billion in investments last year, according to CB Insights.
As Brian Peters, the Executive Director of Financial Innovation Now stated: “It’s about making sure policymakers understand how new technologies can help solve today’s policy challenges. Innovation is coming to financial services, and now is the time for Washington to help enable a modern financial system that is more accessible, affordable and secure”.