The Financial Data and Technology Association of North America: aggressively advocates for the rights of consumers and small businesses to have full utility of their financial data under a well-regulated and evenly-applied open banking regime; draws attention to anticompetitive behaviour in the marketplace that threatens consumers’ and small businesses’ financial data rights; and asserts before policymakers, industry stakeholders, and interested parties its expertise, gleaned from experience in other markets globally, regarding consumer and small business data rights and protections and the use of technology by regulatory agencies to deliver more efficient, innovative policy environments.
What we are doing in North America
FDATA North America continues to advocate for the rights of consumers and small businesses in the United States, Canada, and Mexico to have full utility of their financial data under a well-regulated and evenly-applied open finance regime.
Through our work, we provide input to policymakers and market stakeholders regarding the most appropriate regulatory and legal frameworks under which to provide for a consumer-centric financial ecosystem.
Steve Boms, Executive Director of the Financial Data and Technology Association of North America, has more than 15 years of experience working inside government, public and private companies, trade organizations, and the technology industry, and assists member companies and clients in working with policymakers in Washington, in statehouses across the United States, and internationally. Steve has spent his career focused on complex financial services public policy issues, having worked in the United States Congress on the committee with jurisdiction over banking issues. He has led advocacy efforts and public policy teams globally for equity options exchanges, large U.S.-based financial institutions, and leading fintech firms. A recognized expert in the intersection of financial technology and public policy, Steve has testified before the United States Senate, the Senate of Canada, and the Organisation for Economic Cooperation and Development regarding financial services and technology.
In addition to working directly with FDATA North America’s members, he is a frequent conference panelist and his perspective is solicited by reporters on the technology, financial services, and regulatory beats.
Steve is also the President and founder of Allon Advocacy, LLC, a public policy firm that helps technology, fintech and financial services firms navigate complex public policy and public affairs environments around the world.
What do you get for memberships?
We lobby government, regulators, policy makers and key stakeholders to support the benefits Open Banking and Finance brings to end consumers.
We represent our members’ views, giving them a collective seat at the industry negotiation table. We hold seats on a number of policy working groups, expert advisory groups, and task forces related to Open Banking. In these various forums, we ensure the risks and impacts to fintechs are considered, and that a collective position on the solution to these matters is presented to decision makers. We provide collective bargaining and negotiating power that individual firms cannot achieve on their own.
We also provide direct access and engagement to these decision makers for our members, with regular opportunities to speak directly to policy makers in industry roundtables we host.
FDATA gives members forward intelligence on key policy matters, changes, and trends. Our members can participate directly in various working groups, who serve to shape FDATA’s policy positions and recommendations.
We offer our member firms individual consultations on various policy, market positioning, and market expansion strategies. This service extends to introductions to potential partners across the ecosystem, from direct connections to opportunities to socialise with other ecosystem players at our hosted events and industry roundtables.