The US Department of the Treasury bureau that supervises the banking sector, The Office of the Comptroller of the Currency (OCC), has appointed Prashant Bhardwaj to lead its Office of Financial Technology.
The creation of the Office of Financial Technology was announced in October 2022 as an expansion of the existing Office of Innovation, which the OCC claims will: “Bolster the agency’s expertise and ability to adapt to the rapid pace of technological changes in the banking industry”.
Bhardwaj will lead the office, taking on the roles of Deputy Comptroller and Chief Financial Technology Officer, after almost 30 years working across the financial sector. He will be responsible for overseeing the analysis and evaluation of trends in financial technology, potential risks and the implications for OCC supervision.
[Image Source: Wall Street Journal]