FinTech, Financial Inclusion – and the Potential to Transform Financial Services FinTech, Financial Inclusion – and the Potential to Transform Financial Services

A conference hosted by the Federal Reserve Bank of Boston, with the Aspen Institute A conference hosted by the Federal Reserve Bank of Boston, with the Aspen Institute

October 17, 2018
8:30 A.M. - 12:30 P.M.
Federal Reserve Bank of Boston
600 Atlantic Avenue
directions & visitor information

Registration is now closed.

Recent developments in FinTech— from artificial intelligence to blockchain technology—coupled with an increasing understanding of the financial challenges facing underserved and ‘unbanked’ Americans, provide an environment ripe for the expansion of new FinTech innovations that could transform financial services in the United States.

On October 17, the Boston Fed and the Aspen Institute will bring together thought leaders from the business, nonprofit, and public sectors for a half-day conference to explore the challenges and opportunities at this intersection of the FinTech and financial inclusion space.

Leaders and content experts in technology, finance, FinTech, insurance, government, nonprofit, and academic circles will find this to be an enriching conversation— to which the Aspen Institute Financial Security Program will bring its deep knowledge of the issues surrounding disadvantaged populations, while the Boston Fed will draw on its FinTech and regulatory expertise, relationships with firms driving FinTech innovation, and understanding of the challenges facing low- and moderate-income communities.

Sponsors

Agenda

8:30 a.m. - 8:40 a.m.

Welcome

Aparna Ramesh

Senior Vice President and Chief Financial Officer

Federal Reserve Bank of Boston

Ida Rademacher

Vice President & Executive Director

The Aspen Institute; Financial Security Program

8:40 a.m. - 9:10 a.m.

The Role of the Federal Reserve in Promoting Innovative Inclusion

Panelists:

Prabal Chakrabarti

Senior Vice President & Community Affairs Officer

Federal Reserve Bank of Boston

Jim Cunha

Senior Vice President, Treasury & Financial Services

Federal Reserve Bank of Boston

Ed Dumas

Lead Markets Specialist

Federal Reserve Bank of Boston

Ida Rademacher

Vice President & Executive Director

The Aspen Institute; Financial Security Program

Moderator:

Aparna Ramesh

Senior Vice President and Chief Financial Officer

Federal Reserve Bank of Boston

9:10 a.m. - 9:40 a.m.

Session 1 - The Mainstreaming of Financial Insecurity in America

This session will ground the day’s conversation in the financial realities of American households and identify the drivers of financial vulnerability today. Is financial vulnerability the new normal in the US?

Panelists:

Antoinette Schoar

Michael M. Koerner (49’) Professor of Entrepreneurial Finance, MIT Sloan School of Management; Chair of the MIT Sloan Finance Department

MIT Sloan

Clinton Key

Officer, Financial Security and Mobility

The Pew Charitable Trusts

Moderator:

Tim Flacke

Executive Director

Commonwealth

9:40 a.m. - 10:30 a.m.

Session 2 – The New Dimensions of Supply: What is Driving Change in the Financial Services Market?

This session will unearth the main drivers of change in the financial services. What kinds of innovation are disrupting the financial service market and why? What market are the products being designed for and by whom? Where are tensions rising between new technologies that can solve consumer problems and regulations meant to protect consumers?

Panelists:

Matt Beecher

Chief Executive Officer

Vault

David Derryck

Chief Impact Officer

EARN

Chris Massey

Global Government Relations and Public Policy

Square

Ram Palanaippan

Chief Executive Officer

Earnin

Moderator:

Sarah Morgenstern

Principal

Investment, Omidyar Network

10:30 a.m. - 10:40 a.m.

Keynote Remarks

The Honorable Mayor Martin J. Walsh

City of Boston

10:40 a.m. - 11:10 a.m.

Break

11:10 a.m. - 12:10 p.m.

Session 3 – Creating the Environment to Innovate for Inclusion

This panel will bring together the earlier discussions on supply and demand to examine the state of financial security and the state of markets. If they are not on the same path, how do we align them? What are the opportunities for collisions across inclusion (demand) and supply (innovation)? What are the incentives, institutions, and other environmental necessities to accelerate the collisions we need to increase financial security in the US?

Panelists:

Gail Hillebrand

Associate Director for Consumer Education

Bureau of Consumer Finance Protection

Melissa Koide

Chief Executive Officer

FinRegLab

Garry Reeder

Vice President of Innovation and Policy

Center for Financial Services Innovation

Dan Quan

Former Head of Project Catalyst

Formerly Consumer Financial Protection Bureau

Moderator:

Schan Duff

Senior Director, Legal

Juvo

12:10 p.m. - 12:30 p.m.

Keynote Remarks

Governor Lael Brainard

Member, Board of Governors of the Federal Reserve System

Contacts