FinCEN’s Innovation Initiative
Welcome to FinCEN's Innovation Initiative.
FinCEN’s Innovation Initiative seeks to promote innovation and enhance our national security through the promotion of responsible financial services innovation that furthers the purposes of the Bank Secrecy Act (BSA), as amended by the Anti-Money Laundering Act of 2020.
Responsible innovation is an important part of safeguarding the U.S. financial system against new and evolving threats to the nation's security and the financial system related to money laundering, terrorist financing, and other serious financial crimes, particularly those FinCEN has identified as national priorities. Private sector innovation, either by new ways of using existing tools or by adopting new technologies, can help provide new and more efficient means of providing financial services to consumers and businesses, help financial institutions enhance their anti-money laundering (AML) compliance programs, and contribute to more effective and efficient record keeping and reporting under the BSA framework.
The current major components of FinCEN’s Innovation Initiative include:
Tech Sprint - The Federal Deposit Insurance Corporation (FDIC) and FinCEN are hosting a Tech Sprint January – March to measure confidence in digital identity proofing, the process used to collect, validate, and verify information about a person. Through this sprint, FDIC’s tech lab, FDITECH, and FinCEN seek to increase account security, reduce fraud, money laundering and terrorist financing, and foster customer confidence in the digital banking environment. More details, including how to apply are here.
FinCEN’s Innovation Hours Program is a key element of FinCEN’s Innovation Initiative and offers financial institutions, technology providers, venture capitalists, and other firms involved in financial services an opportunity to discuss and showcase their innovative products, services, investments, and business processes or approaches designed to enhance AML and the countering of the financing of terrorism (CFT) efforts or provide new financial services options to consumers and businesses. FinCEN’s Innovation Hours will foster a better mutual understanding between the public and private sectors of the opportunities and challenges associated with innovating in the financial services sector, including AML/CFT-related products and services.
For more information about FinCEN’s Innovation Hours Program, including the criteria to participate, please see the Frequently Asked Questions (FAQs)
2nd Thursday of each month
9:00am to 1:00pm
Request a Meeting!
To apply for an appointment please click on “Request a Meeting” below and provide your contact information and a summary of your reasons for requesting a meeting with FinCEN, including a description of your financial services-related innovation and its relationship to the BSA framework and related AML/CFT obligations or ability to enhance the nation's security. We strongly encourage firms founded, owned, or managed by underserved groups to apply.
Please note that FinCEN may not be able to accept all requests.