CHICAGO, Oct. 19, 2016 /PRNewswire/ -- Crowe Horwath announced that it will be the exclusive provider of regulatory compliance services to FinTech Forge, a managed service provider that brings banks and financial services technology (fintech) companies together to improve innovation in a highly regulated environment. Crowe is one of the largest public accounting, consulting and technology firms in the U.S., with offices in Europe, Canada, Cayman Islands and India.
FinTech Forge serves as an outboard innovation department for banks and credit unions, increasing their ability to innovate while managing the engagement and trial processes, curating fintech partners and ensuring regulatory and risk management. The company bridges the gap between fintech startups and financial institutions, reducing the costs, risks and the time for new products to be brought to market.
"The financial services industry is increasingly looking to capitalize on new and innovative services, solutions and products while balancing a practical approach to regulatory compliance risks," said John Epperson, Crowe risk consulting principal. "We're looking forward to using our deep specialization with financial services regulatory compliance and technology to collaborate with FinTech Forge and innovative banks and fintech companies in the market."
Crowe will provide a variety of regulatory compliance services to FinTech Forge clients, including:
- Streamlining compliance processes;
- Reviewing and optimizing compliance operating models and processes; and
- Helping companies adhere and respond to rapidly expanding global laws and regulations.
FinTech Forge was formed by three top global fintech executives as a way to help financial institutions that are looking to expand technology innovation and startup fintech companies that develop financial services technology. Led by Jason Henrichs, JP Nicols and Dave Kucera, the company leaders have years of experience working in large organizations and startups.
"As all of financial services is becoming technology based, banks need to shift their operating models to be nimble, customer-driven innovators. FinTech Forge helps incumbents develop and operate innovation capacity that partners with fintech startups in an iterative, test-and-learn approach," said Jason Henrichs, co-founder and managing director of FinTech Forge. "Our collaboration with Crowe Horwath helps bridge the compliance gap as we help financial institutions innovate in a highly regulated environment."
For more information, visit www.crowehorwath.com/ftforge-nr.
About Crowe Horwath
Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting, consulting, and technology firms in the United States. Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe is recognized by many organizations as one of the country's best places to work. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 120 countries around the world.
Crowe Horwath Global Risk Consulting (Holdings) Limited and its subsidiaries ("Crowe Horwath") use deep industry expertise to provide governance, risk and compliance services. Crowe Horwath serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The Crowe Horwath International network consists of more than 200 independent accounting and advisory services firms in more than 120 countries around the world.
About FinTech Forge
The FinTech Forge delivers a structured program for financial institutions to rapidly realize the benefits of engaging with fintechs in a low risk and low cost way that works in a highly regulated environment. As a managed service provider, the FinTech Forge extends the innovation capacity of financial institutions by managing the engagement and trial processes from experimental design, partner selection, regulatory and risk management, and proof of concept. The Forge bridges the gap between fintech startups and financial institutions, reducing the costs, the risks, and the time for new products to be brought to market.
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SOURCE Crowe Horwath LLP