DFS launches program in effort to drive financial services, products


DFS Superintendent Linda Lacewell announced a new program this week aimed at driving financial services and products in the COVID-19 era.

DFS FastForward was created to support innovators who want to deliver new solutions in financial services, fintech, insurtech and healthtech, Lacewell said in a Tuesday press release.

DFS FastForward is open to DFS-regulated and non-regulated entities, as well as innovators, startups and disruptors looking to enter and operate novel financial services and products in New York, Lacewell said.

According to the press release, DFS is seeking solutions that:

  • promote recovery for Main Street small businesses;
  • provide healthtech solutions to deliver access and better meet health care needs of New Yorkers; and
  • offer tools for individuals and households to build their financial futures and resilience.

“As New York begins re-opening, new cutting-edge and innovative solutions will be needed to adapt the New York marketplace to a new normal due to COVID-19,” Lacewell said. “DFS FastForward will help to build New York back better by supporting tomorrow’s innovators for the benefit of New York’s economy and consumers.”

DFS FastForward follows an insurtech pilot, Project Whitehall, which DFS launched in February 2020, the press release stated. Through Project Whitehall, companies and startups can connect directly with DFS subject-matter experts to explore how DFS regulations might apply to their solutions, according to the press release.

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