CFES Accelerates 2025 Growth With 70% Membership Increase, Adds Coastal Community Bank to Bank Advisory Committee

Fintech companies, technology providers, and banks join the organization to drive sound growth in financial services

WASHINGTON--(BUSINESS WIRE)--The Coalition for Financial Ecosystem Standards (CFES), an industry-led organization for banks, fintechs, and other companies that sets audit-ready standards to promote safety and soundness, today announced a series of notable growth milestones for 2025.

CFES grew its membership by more than 70% in 2025, signaling strong demand for standards-based frameworks that promote consistency, rigor, and transparency to support a thriving financial ecosystem. The industry group also strengthened its Bank Advisory Committee – formed earlier this fall – with the addition of Coastal Community Bank, a Washington-based bank holding company with more than $4B in assets. Coastal joins committee participants FinWise, First Bank of the Lake, and Thread Bank to formalize bank participation in CFES’s standards development and certification work.

“We have built our Fintech division on the belief that holding our partners to strong compliance and regulatory standards would benefit both the fintech and their customers,” said Brian Hamilton, President of Coastal Community Bank. “CFES and its Bank Advisory Committee participants share those same values, and we’re proud to support this effort to ensure that innovation occurs on a foundation of stability and customer protection.”

Building on their Core Operating Standards, which provide a comprehensive foundation for compliance in bank-fintech partnerships, CFES released a Pre-Launch Checklist that identifies the minimum controls necessary before launching any financial product with a banking partner. The checklist serves as an accessible on-ramp for organizations beginning their compliance journey, and ensures nonbanks meet fundamental regulatory requirements across BSA/AML, compliance management, third-party risk management, complaint handling, operational risk, and marketing compliance before going to market.

“The continued growth of our organization underscores the industry’s eagerness to navigate change responsibly,” said Sima Gandhi, Co-Founder of CFES. “Through adopting standardized frameworks, supporting responsible new product development, and centering customer safety, our members are building a foundation for the financial services ecosystem to thrive in the years to come.”

The industry group continued to be an active voice in the financial services policy landscape, engaging with RFIs from FinCEN, the Senate Banking Committee, and the Treasury on topics including anti-money laundering and counter-terrorist financing compliance costs, digital asset policy, and illicit finance.

CFES continues to welcome additional financial institutions interested in supporting the mission to create a safer and more dynamic financial services ecosystem.

About the Coalition for Financial Ecosystem Standards

The Coalition for Financial Ecosystem Standards (CFES) is a member-led coalition whose mission is to empower policymakers and industry innovators to drive sound growth in financial services. In partnership with FS Vector, CFES develops audit-ready standards for risk management and compliance in bank-nonbank partnerships. CFES also focuses on frameworks and guidance that address the critical gaps in financial services resulting from where technological progress outpaces historical guidance.

For more information about CFES and its initiatives, please visit https://thecfes.com

About Coastal Financial

The Company is an Everett, Washington based bank holding company whose wholly owned subsidiaries are the Bank and Arlington Olympic LLC. The Bank, which has $4.48 billion in assets, provides service through 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application. The Bank provides banking as a service to digital financial service providers, companies and brands that want to provide financial services to their customers through the Bank’s CCBX segment. To learn more about the Company visit www.coastalbank.com. Member FDIC.