Fintech and Regtech Overview

Washington, DC, a global center for innovation and entrepreneurship, presents unparalleled opportunities for technology companies seeking innovative solutions to financial challenges in the modern world. DC attracts global fintech and regtech companies with its friendly regulatory environment and proximity to federal financial regulators.

From WDCEP’s Fintech & Regtech Overview, published 2024.

How DC ranks

$2.25 billion in venture investment in 2024 for DC companies — PitchBook, Q4 2024
#1 market for human capital — WalletHub, 2024
#1 state for tech careers — Forbes, 2024
Top 10 strongest economy in the United States — WalletHub, 2024

Proximity to regulatory authorities

Washington, DC provides unparalleled proximity to key federal regulatory bodies, including the U.S. Securities and Exchange Commission (SEC), the Federal Reserve, and the Consumer Financial Protection Bureau (CFPB). Establishing an office here facilitates direct engagement and collaboration with policymakers, enabling companies to stay ahead of regulatory changes.

Federal spending on fintech and regtech contracts

Over $500 million in federal contracts went to DC for fintech and regtech combined over the past decade. Annual awards ran between roughly $30 million and $45 million in each year from 2018 through 2023, peaking in 2019 and again in 2022–2023.

Source: USAspending.gov, State: District of Columbia; NAICS 522320 (financial processing) and 9261 (administration of economic programs). Accessed 9 April 2024.

Notable regtech and fintech companies in Washington, DC

500 Global
AARP
Brown Advisory
Carta
Franklin Templeton
Intercontinental Exchange (ICE)
Intuit
Morningstar
Pie Insurance
Sayari
SoFi
Upside

A diverse and skilled workforce

Washington, DC leads the nation as #1 for human capital and as the Most Innovative State (WalletHub, 2024). Fueling the talent pipeline are 20+ colleges and universities, including a growing number of satellite campuses — many with fintech-specific programs — helping develop the future of the workforce. Institutions with a presence in the region include American University, The George Washington University, The Catholic University of America, Howard University, the University of the District of Columbia, Johns Hopkins University, Princeton University, the University of Southern California, Texas A&M University, and Virginia Tech.

Resources spotlight

DC Fintech Week

Started at the Georgetown University Law Center in 2017, DC Fintech Week brings together nonprofits, technologists, entrepreneurs, and regulators to engage one another, for free, in a meaningful dialogue about fintech and the future of finance.

DC Department of Insurance, Securities and Banking (DISB) Office of Innovation

The DISB Office of Innovation (OOI) drives innovation in the financial services industry by promoting economic growth and financial inclusion in the District of Columbia. It provides:

Regulatory guidance. Guidance for fintech companies on navigating the regulatory environment in the District of Columbia, including compliance with applicable laws and regulations.
Connections to stakeholders. Introductions to financial institutions, industry associations, and other stakeholders in the financial services ecosystem, to foster collaboration and promote innovation.
Technical assistance. Support in areas such as data privacy and cybersecurity.
Financial literacy and education. Education and outreach to consumers and businesses on the benefits of fintech solutions.
Networking opportunities. Networking events and workshops for fintech companies.
Research and analysis. Research identifying fintech trends and their impact on the financial services industry.

Talk to us

Kevin Morgan, Senior Vice President of Tech Sector Attraction & Retention, WDCEP — kmorgan@wdcep.com, (202) 661-8675
Kathrine VanLiew, Vice President of International Business Attraction, WDCEP — kvanliew@wdcep.com, (315) 730-0033
Tamara Zeidan, Director of Innovation, DC Department of Insurance, Securities and Banking — tamara.zeidan@dc.gov, (202) 442-7753, disb.dc.gov