The Office of Innovation collaborates with the private sector and industry stakeholders to create a business and regulatory environment that fosters the development and adoption of innovative financial technologies and services that benefit consumers and businesses alike. OOI provides a range of support and resources to fintech, insurtech and regtech companies and entrepreneurs, including regulatory guidance, connections to stakeholders, and networking opportunities. By providing these resources, the Office of Innovation helps fintech companies navigate the regulatory landscape and ensure compliance with applicable laws and regulations, while fostering collaboration and promoting innovation in the financial services ecosystem.
The Office of Innovation is responsible for:
- Fostering a supportive environment. OOI works to create an environment that encourages fintech companies to locate and operate in the District of Columbia. This includes providing resources and support to fintech entrepreneurs, startups and established companies.
- Promoting financial inclusion. OOI seeks to promote economic growth and financial inclusion by encouraging the development and adoption of fintech solutions that serve underserved and unbanked communities.
- Facilitating regulatory compliance. OOI collaborates with fintech companies to help them navigate the regulatory landscape and ensure compliance with applicable laws and regulations.
- Encouraging collaboration. OOI fosters collaboration between fintech companies, financial institutions, and other stakeholders to promote innovation and improve financial services in the District.