The Global Financial Innovation Network (GFIN) was formally launched in January 2019 by an international group of financial regulators committed to supporting financial innovation in the interests of consumers. DFS became one of the first U.S. state agencies to join the network in October 2019.
The GFIN seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. This includes a pilot for firms wishing to test innovative products, services or business models across more than one jurisdiction. It also aims to create a new framework for cooperation between financial services regulators on innovation related topics, sharing different experiences and approaches.
For more information, please visit GFIN.