Government Relations
Coalition for Financial Ecosystem Standards (CFES)
Founded and incubated by FS Vector in 2024, CFES is an industry-led organization open to banks, fintechs, and other companies that develops standards to promote effective risk management and compliance in financial services.
FS Vector Built the Standard for Bank-Fintech Partnerships
We convened the founding members, funded the initial work, and wrote the framework. CFES now spans 54 core standards across six compliance areas, a Bank Advisory Committee of five banks, a network of qualified assessor firms, and a certification recognized by partner banks in diligence.
Why CFES Matters
Partnerships between non-banks and banks play an important role in financial services innovation and growth for community banks. However, clear risk management and compliance standards will be key to maintaining their operational and business viability.
- Alignment on compliance and risk management expectations across the financial services ecosystem
- Clearer guidelines and procedures for modern financial services products
- Competitive markets and products with greater consumer choice
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