Technology and innovation have been transforming financial services since long before smartphones and machine learning became frequent topics at banking conferences across the country. From the development of double-entry accounting and the first stock exchange to the more recent revolutions brought about by ATMs, debit cards, and internet banking, financial innovators have worked for centuries to improve access and better serve customer and industry needs.

The speed and breadth of technological innovation in recent years, however, marks a shift from earlier eras. Advances in payments, credit, and funding, to name a few, have tremendous potential to transform the business of banking as we know it—both in the way consumers interact with their financial institutions and the way banks do business. Now, more than ever, it is crucial that we understand the impact, scope, and consequences of what we have come to refer to as “fintech.”

The FDIC and Duke University’s Fuqua School of Business and Innovation and Entrepreneurship Initiative have organized the “Fintech and the Future of Banking” conference with the belief that at the intersection of research and experience lies good public policy.

Treasury Secretary Steven Mnuchin and FDIC Chairman Jelena McWilliams will open the conference with a conversation about the role of financial technology and innovation in banking. Throughout the day, prominent academic experts will present highlights from research focused on technology’s impact on lending, financial advice, and competition alongside the perspectives of senior leaders in policy and industry. Shorter discussions exploring the topics of regulatory innovation and fintech funding will offer the opportunity for regulators and private investors to share their insights on areas in which research is limited and raise questions that spur new research for the future.

We look forward to what promises to be a thoughtful and engaging dialogue on what research and experience can tell us about the role of fintech and the future of banking.