New York DFS Launches Program to Drive Innovation Post-Pandemic

June 10, 2020

The New York State Department of Financial Services (DFS) has launched DFS FastForward, a new program to support innovators seeking to deliver new solutions in financial services, fintech, insurtech and healthtech for New Yorkers in the COVID-19 era.

“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,” said DFS Superintendent Linda Lacewell in a DFS press release. “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 launched in February 2020. Through Project Whitehall, companies and start-ups had the opportunity to connect directly with DFS subject matter experts to explore how DFS regulations might apply to their insurtech solutions as they prepare to launch in New York.

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

The department is especially interested in solutions that promote recovery for Main Street small businesses, provide HealthTech solutions to deliver access and better meet healthcare needs of New Yorkers, and offer tools for individuals and households to build their financial futures and resilience.

Source: The New York State Department of Financial Services

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