The Office of the Comptroller of the Currency (OCC) has created the Office of Financial Technology (Fintech). At the same time, the OCC has appointed Prashant Bhardwaj to lead the office as Deputy Comptroller and Chief Financial Technology Officer.
This is not the first time the OCC has announced a new office attached to innovation in financial services. In 2016, then-Comptroller Thomas Curry revealed the Office of Innovation to implement its Fintech framework.
In October 2022, the OCC announced that it would expand upon its Office of Innovation and establish an Office of Financial Technology to focus more energy on Fintech innovation and its impact on financial services.
Bhardwaj is expected to lead the team that will pursue analysis, evaluation, and discussion of relevant trends in Fintech.