POLITICAL ECONOMY

EXIM Chairman Hosts Teleconference With Emerging Fintech Leaders, Stakeholders

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…Discusses Partnership With EXIM To Fly US Comparative Leadership, Counter Chinese Export Subsidies

By Emmanuel Oluebube, Correspondent UK

Export-Import Bank of the United States (EXIM) President and Chairman of the Board of Directors Kimberly A. Reed weekend  hosted a teleconference roundtable discussion with over 60 business leaders and stakeholders in the emerging financial technologies (fintech) sector. The event was the eighth and final teleconference in EXIM’s “Strengthening American Competitiveness” initiative, which provides valuable stakeholder input to EXIM’s new Programme on China and Transformational Exports.

On the call, Chairman Reed highlighted the economic growth potential in this high-tech sector, and underscored EXIM’s commitment to accelerating the success of American financial technology companies.

“Fintech is one of the many industries named in Beijing’s long-term strategy for economic dominance,” said Chairman Kimberly Reed. “I am committed to leveling the playing field globally for US companies in this critical sector, especially as they compete with China. We at EXIM are intently focused on supporting US emerging financial technologies—including those that facilitate financial inclusion, data security and privacy, payments and transfer of funds, and efforts to combat money laundering and the financing of terrorism—especially as we focus America’s economic and national security. Thank you to all the industry leaders who shared their insights today. I look forward to further partnership to support US jobs and keep America strong.”

“Fintech represents a truly exciting new industry for EXIM, and a key sector critical to long-term US economic growth and security,” said EXIM Senior Vice President for the Programme on China and Transformational Export, David Trulio. “Given the extremely dynamic nature of the emerging financial technology marketplace, success in supporting these exporters requires innovation and scalable solutions, and we in EXIM look forward to early collaboration.”

Also giving remarks on the call were:

  • President, Transcard, Chris M. Fuller
  • CEO, Investor Cash Management, Fred Phillips
  • CEO and Founder, Coalesce.ai and the Boston AI Think Tank, Greg Woolf
  • CEO and Co-Founder, Inpher, Jordan Brandt

“EXIM’s support of emerging financial technologies contributes to a more inclusive society in the U.S. and abroad,” said Investor Cash Management CEO Fred Phillips. “Through creating quality jobs domestically and making payments more efficient globally, EXIM’s leadership in promoting fintech exports and agility in developing new programs exemplifies the best of government/private sector partnerships.”

“The investment and implementation of digital banking products and multi rail offerings is imperative to compete at a global scale,” said Transcard President Chris M. Fuller. “The near-term dynamics of the financial markets are potent, driven by strong customer sentiment, a thriving fintech environment, and unrelenting innovation by the providers of real-time processing platforms. I am pleased to see EXIM Bank put the proper investment and attention in these emerging technologies.”

The Programme  on China and Transformational Exports, established in EXIM’s historic seven-year reauthorization signed into law by President Trump on December 20, 2019, directs EXIM to provide financial products to directly neutralize export subsidies offered by the People’s Republic of China, helping to ensure a level playing field for US businesses and workers as they compete globally. The program has the aim of advancing the comparative leadership of the United States and supporting US innovation, employment, and technological standards globally in ten transformational export industries including emerging financial technologies.

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