05/13/2021

Olympia – The Washington State Department of Financial Institutions (DFI) announces the creation of the Center for FinTech Information (CFI) within the agency to facilitate communication between DFI and entrepreneurs, start-ups, and fintech companies. Director Charlie Clark announced the comprehensive new site https://dfi.wa.gov/fintech and additional tools for innovative companies seeking further guidance at this morning’s Washington Technology Industry Association (WTIA) Town Hall.

“We are doing everything we can to help innovative companies be successful in Washington State,” Clark said. “We value our working relationships with industry and their representatives, and this dedicated program is a natural outcome of our desire to be helpful, transparent, and efficient in our regulatory work. We have a strong history of collaborative work with industry in the rapidly evolving ecosystems of digital payment platforms, money transmission, securities offerings, and custodial trust companies.”

The CFI site and staff:

  • provide information about doing business in Washington as a regulated entity;
  • answer questions about the Washington’s financial laws, rules, and regulations that the Department administers, including those related to money transmission, securities, lending, or banking;
  • assist applicants in navigating the licensing process; and
  • review business concepts and/or business plans to identify potential business activities that may be regulated by DFI.

The new site provides information on:

  • Industry guidance regarding licensing and regulation;
  • FinTech related enforcement actions;
  • Guide for Consumers;
  • Testimonials by industry; and
  • Partnerships with depository institutions (guidance)

Media Contact

Lyn Peters, Director of Communications
PH (360) 349-8501 or CommunicationDir@dfi.wa.gov

DFI Main Phone Number
1.877.RING DFI (746-4334)