O’Malley is a leading voice for responsible innovation and fintech standards that serve as the foundation for the future of finance
AFC celebrates a record year of growth and accomplishment in 2024; already looking to 2025

Washington, D.C. (December 30, 2024)– The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the election of its 2025 Board leadership, including Martha O’Malley, Assistant General Counsel at Prosper Marketplace, who will be returning as Chair of the Board of Directors, capping a year of unprecedented growth and impact.

“I am proud to chair the Board of Directors of AFC,” said O’Malley. “I am excited for 2025, and all we will do together with our members, regulators, and legislators to foster an environment that encourages innovative and responsible products and provides consumers with greater choice and access to solutions.2024 was a phenomenal year, and 2025 will be even better.”

In addition, Ezra Garrett, Senior Vice President of Public Affairs at Oportun, a mission-driven financial services company and CDFI, will chair the Budget Committee, and Ulrico Izaguirre, Senior Vice President Government Relations, Public Policy& Social Impact at Affirm, a leading provider of financial services including Buy Now Pay Later (BNPL), will chair the Policy and Advocacy Committee.

“We thank all of our Directors, both new and returning, for their tireless work to promote a responsible and innovative financial technology, banking, and financial services industry,” said Phil Goldfeder, Chief Executive Officer of AFC. “AFC is at the forefront of advocating for a more inclusive, transparent, and customer-centric financial services system. Our Directors are instrumental to advancing that mission and fostering collaboration among our members toward our shared goals. After experiencing incredible growth and achieving historic policy wins in 2024, we couldn’t be prouder and more excited to continue our work in 2025 with the support of our Board and membership.”

AFC’s membership grew by 85% in 2024, representing a diverse range of sectors across the fintech industry. In addition to extensive work on Capitol Hill, meeting with countless Members of Congress and regularly with the Federal Reserve, OCC, FDIC, FinCEN and so many other federal agencies, this year alone, AFC staff was present in 21 states and testified 18 times before 13 State Legislatures. We hosted a Policy Summit Week with participation from nearly every AFC member and so many others, including leading Members of Congress and state legislators and all major federal regulatory agencies. We sent 53 advocacy letters and worked with members to advocate for a more inclusive and transparent financial system across seven policy verticals. The organization also significantly expanded education and outreach efforts, hosting 15 webinars, attending 76 external conferences, and appearing in dozens of national publications.

The coming year presents a unique opportunity to chart a more forward-looking course. The incoming Trump administration, as well as state leaders, are prioritizing regulatory nominees who understand the fintech industry and recognize that old regulatory structures don't neatly fit new products and services.

“With the addition of new team members and growing membership we are eager to continue our progress and drive pragmatic changes to build a safe future of finance,” said Ian P. Moloney, SVP and Head of Policy and Regulatory Affairs at AFC. “Responsible fintech companies and innovative banks are ready and eager to work with new administrations and regulators, in Washington and states around the country, on common-sense rules of the road that give us the clarity we need to best serve the American people.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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