The financial sector, including aspects ranging from capital markets to consumer payments, is undergoing dramatic change. Financial Technology, or “FinTech”—the use of technology to perform financial functions—encompasses an incredibly broad scope of activity, covering everything from technologically enabled investment to innovative ways to pay for daily consumables to cross-border transactions. FinTech is disrupting traditional processes and challenging longstanding incumbents. It also promises greater accessibility, efficiency, and choice for users around the world. It also presents very real challenges. While FinTech can help people move money for legitimate purposes, it also faces traditional challenges, like preventing fraud and money laundering. Regulators have the unenviable task of trying to manage risk without stifling needed innovation, and without inadvertently choosing winners and losers.