Fintech
American Fintech Council Aims to Improve Financial Support for Military and Veteran Families
THE American Fintech Council (AFC), the leading industry association representing responsible fintech companies and innovative banks, collaborates with Military Bankers Association of America (AMBA), to promote responsible innovation in financial services to better serve military and veteran families.
By working together, the two organizations hope to create more opportunities for members to collaborate and provide innovative financial education offerings, introduce safe and accessible fintech products, and promote programs and products that create financial options and pathways out of debt for military families.
AMBA, a trade association representing banking institutions specializing in providing banking services to military personnel and their families, is a nonprofit association. The association includes banks operating on military installations of all five branches of service (Army, Air Force, Space Force, Navy, and Marine Corps) and banks not located on military installations but serving military customers.
“It is fitting that on the threshold of Independence Day, a celebration of our Nation’s freedom and the men and women who have defended it and will continue to defend it, AMBA and AFC announce a partnership that promises to improve the financial lives of U.S. military members, veterans and their families,” said Steven LepperPresident and CEO of AMBA and a retired Major General in the U.S. Air Force. “Regardless of where they live or are deployed or stationed, our military and veterans are increasingly relying on financial technology to help them manage their unique financial needs and challenges.”
The association’s members include both community banks and large multinational financial institutions, all insured by the Federal Deposit Insurance Corporation.
Support through education
Both organizations will also work together to to educate their collective membership through podcasts and webinars.
“America’s heroes who serve or have served in the military deserve every opportunity for economic prosperity and well-being, and it is an immense honor to partner with AMBA to further enhance the financial institutions that are already reaching our bravest families,” said Phil GoldfinchCEO at the American Fintech Council. “As a trade association built on the foundation of responsible innovation, AFC is uniquely positioned to support AMBA’s work and help our combined members serve military families who have sacrificed on behalf of America’s families.”
A standards-based organization, AFC is the trade association representing the largest fintech companies and innovative BaaS banks. It aims to promote a transparent, inclusive and customer-centric financial system, supporting responsible innovation in financial services and encouraging sound public policy.