The American Fintech Council (AFC), a trade association representing responsible fintech companies and innovative banks, announced a new strategic partnership with the American Military Banking Association (AMBA), the only trade association representing banking institutions dedicated to providing banking services to military members and their families around the world.
Together, the two organizations will support members and drive responsible innovation in financial services to best serve military and veteran families.
“On the eve of Independence Day, a day that celebrates our nation’s freedom and the men and women who protect it, it is fitting that AMBA and AFC announce a partnership committed to improving the economic lives of America’s military members, veterans and their families.” “The U.S. military is committed to protecting the lives of its citizens,” said retired U.S. Air Force Major General Steven Lepper, president and CEO of the American Military Banking Association.“No matter where they live, deploy or are stationed, military members and veterans are increasingly relying on financial technology to address their unique financial needs and challenges. The strategic partnership we’re announcing today will strengthen our collective capabilities and enable our members to better serve these privileged yet underserved communities.”
AMBA is a nonprofit organization founded in 1959 that is comprised of banks that operate on military installations of the five services (Army, Air Force, Space Force, Navy and Marine Corps) as well as banks that are not on installations but serve military customers. The association’s membership includes both regional banks and large multinational financial institutions, all of which are insured by the Federal Deposit Insurance Corporation.
“America’s heroes who are or have served in the military deserve every opportunity for economic prosperity and well-being. It’s a tremendous honor to partner with AMBA to further strengthen the financial institutions that are already providing support to our bravest families.” Phil Goldfeder, CEO of the American Fintech Council, said: “As a trade association founded on responsible innovation, AFC is uniquely positioned to support AMBA’s work and help our collective membership serve the military families who have sacrificed themselves for America’s families.”
Working together will create countless opportunities for members of both organizations to work together to provide innovative financial literacy, introduce modern, safe and affordable fintech products, and promote programs and products that create financial options and a path out of debt for military families.
Additionally, both organizations will collaborate on educating their joint membership through podcasts, webinars, and by supporting each other with events such as the AMBA Fall Workshop in August and the AFC Policy Summit in November.
A standards-based organization, AFC is the leading industry association representing the largest financial technology (Fintech) companies and innovative BaaS banks. Our mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policies. AFC members develop pioneering products that advance competition in consumer finance and better serve underserved consumer populations and geographies.
