InfoBytes Blog
NYDFS launches Covid-19-era fintech program
On June 9, the New York Department of Financial Services (NYDFS) announced the launch of “DFS FastForward,” a program “to support innovators seeking to deliver new solutions in financial services, Fintech, InsurTech, and HealthTech for New Yorkers in the COVID-19 era.” DFS FastForward is intended to assist the New York marketplace in adapting to a “new normal” due to Covid-19, and NYDFS is encouraging businesses (NYDFS-regulated and non-regulated) looking to “operate novel financial services and products in New York.” Specifically, NYDFS is seeking innovations that (i) promote recovery for small businesses; (ii) provide “HealthTech” solutions to give New Yorkers better access and assistance to healthcare; and (iii) offer tools to assist consumers in building financial resilience. NYDFS is encouraging those who are interested in participating in program to complete an inquiry form.