Klarna, Truework, Nium, Sezzle join cross-section of fintech leaders focused on advancing modern, consumer-centric regulation
The Financial Technology Association (“FTA”) announced that Klarna, Truework, Nium, and Sezzle have become the newest members of the trade group. With these new members, FTA expands and deepens its broad representation of the fintech industry ranging from leaders in lending and payments to open banking, artificial intelligence (AI) and machine learning (ML), and robo-advisory. All are joined by a commitment to drive greater financial inclusion, equity, and opportunity and to advance consumer-centric regulatory frameworks that safeguard consumers and facilitate responsible innovation.
“Nium has been on the forefront of providing a simpler way for companies to connect to the world’s payment infrastructure through one API”
“These new member companies will strengthen the FTA’s ongoing efforts to not just tell, but show how fintech can solve policy challenges and improve financial outcomes,” said Daniel Gorfine, FTA Senior Policy Advisor. “FTA welcomes their global perspective and commitment to shared core principles, which include promoting fair, responsible, and accessible financial services.”
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FTA was founded earlier this year to educate stakeholders on the importance of technology-driven innovation, specifically advancing the development of trusted, digital financial markets and services. The organization is building off its launch paper to advocate for consumer-centric policies that foster responsible fintech, including with respect to modern oversight frameworks.
“As a leading global fintech in the retail banking and payments sector, Klarna is committed to providing more flexible, innovative payment solutions for its 16 million customers in the US, and 90 million around the world. By joining FTA, we aim to further our goal to create and deliver financial products and services that are more transparent, user-friendly and beneficial to the end consumer,” said David Sykes, Head of US, Klarna. “We also look forward to collaborating and sharing best practices with other member firms who share our mission of promoting responsible financial innovation.”
“As we’ve built our identity platform, we’ve seen automated income and employment verifications provide increased financial access to a broader and more inclusive group of consumers,” said Ryan Sandler, Truework Co-Founder and CEO. “We’re excited to work together with policy makers and the FTA in breaking down structural barriers to financial independence.”
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“Nium has been on the forefront of providing a simpler way for companies to connect to the world’s payment infrastructure through one API,” said Prajit Nanu, co-founder and CEO, Nium. “We power the companies and services that more than 130-million customers rely on to move money seamlessly across geographies. As a proud member of the FTA, we look forward to sharing our global perspective on innovations and policies that will empower even more people and businesses here in the U.S. and across the globe to access life-critical financial services.”
“Trusted and transparent, Sezzle gives shoppers a bridge to financial empowerment with its interest-free payment solution that is offered at over 34,000 merchants, both online and in-store,” said Sezzle President, Paul Paradis. “Sezzle uniquely serves a growing market of young, credit-skeptical consumers, by becoming their financial co-pilot and helping them on their path to building credit; all while the company pursues B-Corp initiatives to foster a purpose-driven approach to payments. By joining FTA, Sezzle is delighted to further collaborate with fintechs in this association and looks forward to shaping its future.”
Milan Dalal, FTA Senior Government Relations Advisor, noted that the new members will help advance the organization’s advocacy efforts. “We’re thrilled to have these four highly-respected companies that span the fintech ecosystem join the FTA, which is dedicated to advancing policies that provide important consumer protections while facilitating safe, inclusive, low-cost, and equitable products and services.”
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