Slyvan Lane

A coalition of major tech companies — including Google, Amazon and Apple — is calling on President-elect Donald Trump to appoint a Treasury undersecretary for technology. Financial Innovation Now (FIN), which also includes PayPal and Intuit, is asking the Trump Administration to appoint regulators and promote policies that will bolster the use of financial technology (FinTech) as it gains popularity and prominence. FinTech includes a wide array of smartphone apps and websites that aim to offer quicker, safer and more accessible financial services.

FIN executive director Brian Peters emphasized Trump’s business experience in a letter outlining the coalition’s desire for “a national vision and coordinated strategy” to grow FinTech jobs and use FinTech to drive competition between financial services providers. FIN asked Trump to appoint regulators, including a special Treasury undersecretary for technology, that “value technology and who will seek to promote innovation as a means to foster competition in financial services.”