David Schwartz, President & CEO, Financial & International Business Association (FIBA)

Invest: sat down with David Schwartz, president and CEO of the Financial & International Business Association (FIBA), to discuss how the association is expanding its global reach while helping financial institutions navigate fast-changing regulation, technology, and risk. “If you’re not keeping yourself constantly updated, it’s going to cost you,” Schwartz said.

What are the primary strategic goals for FIBA over the next few years, particularly in terms of global financial education, advocacy, and industry leadership?

Our mission has remained consistent, even as the environment has become more complex. At its core, FIBA exists to build bridges between the United States and the rest of the world through education and advocacy for the international financial community.  As change accelerates and uncertainty becomes the norm, our role becomes not less relevant, but more essential.

The past year provides a telling indicator of the road ahead. We hosted our 25th annual Anti-Money Laundering Compliance Conference, which sold out at 1,200 attendees from roughly 50 countries. We had to close registration early, and people still traveled to Miami hoping to attend. That response speaks not only to the credibility of our platform, but to the intensity of the regulatory and technological shifts reshaping financial services worldwide.

FIBA stands as a global platform where dialogue becomes collaboration and collaboration becomes progress. Beyond Miami, we continued to deepen and broaden our global reach. We partnered with an educational organization in South Africa and delivered our anti-money laundering certification in person. I went myself and co-taught the program. It was a new region, a new audience, and a group with different backgrounds, and we learned from them as they learned from us. Through our Academy, we have built long-standing relationships with multiple institutions all across Latin America and the Caribbean, — nurturing partnerships grounded in sustained engagement, education, and trust.

We also returned to Argentina, which was particularly meaningful. Travel costs and economic conditions have made it difficult for professionals from the Southern Cone to participate in our Miami events. So, rather than expect them to come to us, we brought FIBA to them. That event sold out, and we had regulators and government officials participate, including the head of Argentina’s Financial Intelligence Unit, who chose our conference for his first public remarks.

At the end of the year, we organized the annual assembly of the Latin American Federation of Banks. Nearly 2,000 people attended, and it became the most successful event in that organization’s history. Watching professionals from across the region and around the world connect, exchange ideas, and explore opportunities reaffirmed exactly why we do what we do.

Looking ahead, that mission continues. We are expanding beyond Latin America, the Caribbean, and South Africa, with conversations underway in Europe and the Middle East. Education remains central, and advocacy remains important, but advocacy has become more complicated as rules and regulations increasingly arrive through multiple channels, not just the traditional legislative process. That adds a layer of complexity for organizations inside and outside the U.S., and it is one of the challenges our members are working through right now. As borders become more interconnected and challenges more shared, FIBA remains a trusted bridge between vision and execution across the international financial community.

How do FIBA’s conferences and events foster networking, innovation, and knowledge exchange within the global financial community?

Our events are intentionally designed to go beyond panels and presentations. Expert-led sessions are essential, but a lot of the real value happens in the spaces between them. We deliberately create space for meaningful dialogue. We build in time for people to meet, talk, and compare notes, because these issues are shared across borders and institutions.

We’ve extended breaks, strengthened the social components around our conferences, and created more opportunities for people to connect in a relaxed setting. Some of our key sponsors also host parallel gatherings around the conference, which adds even more space for relationship building. In larger gatherings, including the Latin American banking assembly, we bring people together in settings where they can relax and get to know one another on a personal level. That distinction matters because business networking may be transactional, but long-term partnerships are built on personal trust. 

These connections also create tangible business opportunities. In South Africa, for example, many participants in our certification program came from business processing organizations that provide sophisticated back-office functions, including accounting and compliance. Many of them are actively looking to expand into the U.S. market, and part of FIBA’s role is to help facilitate those connections in a way that makes sense for both sides.

We have reinforced this approach structurally through what we call “villages” within our exhibit space — grouping institutions and partners from the same country or region to present a cohesive presence, and make it easier for U.S.-based institutions to engage. We have done this in the past with places like Canada and Israel, and we are looking at similar approaches with other regions as participation grows.

Innovation is another major piece of knowledge exchange, and it is everywhere right now. Artificial intelligence, machine learning, and digital assets are no longer theoretical concepts. People are asking practical questions: Can I use these tools? Are they reliable? What risks am I introducing? How does compliance apply? We focus on education that helps the industry ask the right questions and understand the implications.

FIBA itself has evolved alongside those trends. While we began as the Florida International Bankers Association, our membership has expanded well beyond traditional banking. Today, we still serve banks, but we also include fintechs, digital asset companies, and other service providers that are spearheading innovation. Our job is to bring those groups together so financial institutions understand what is changing, and innovators understand what it means to operate in a regulated environment. For nearly a decade, my message to financial institutions has been simple and direct: innovate or die.

What do you see as the biggest opportunities and challenges for FIBA and the global financial services community today?

Political and economic uncertainty does not eliminate opportunity — it often reallocates it. Despite the noise and volatility, the United States continues to be viewed as a refuge, and markets like Miami tend to benefit from that. The evidence is visible in capital flows into the banking system, and you see it in real estate investment, especially when conditions abroad make people unsure about what comes next.

We are also seeing renewed activity in the banking market. Regulatory conditions are more welcoming than they were in prior years, and international institutions are pursuing different ways to establish or expand their U.S. presence. We have seen announcements of new entrants and major transactions, which reflect the broader structural trend of global institutions looking for access to the domestic market and stability in an uncertain world.

The greatest challenge, however, is still uncertainty. Financial institutions are structured around predictability — the ability to plan with confidence — and when regulations are consistently changing or unclear, it becomes difficult to forecast, price risk, and make long-term decisions. That uncertainty shows up in markets and in the daily conversations financial institutions have with their clients.

It is also global. Elections, policy shifts, trade disputes, sanctions, and geopolitical tension all create fluctuations. And often, the question is not what people think might happen, but what has actually changed in a practical sense. When the rules of the road are ever-changing, institutions naturally become more measured in their commitments. 

What is the importance of education and staying up to date in relation to financial services?

Staying informed is no longer optional; it is a professional obligation. What was accurate yesterday may not hold true today. In an environment defined by rapid regulatory and technological change, failing to remain current can carry real consequences. If you’re not keeping yourself constantly updated, it’s going to bite you.

We update our courses far more frequently than we used to, because the pace of change has accelerated. It is no longer enough to review a compliance framework once a year. Now, it requires constant, frequent attention because new developments can shift risk quickly.

In areas like sanctions and cross-border compliance, it is especially important to separate assumptions from facts. People may assume a situation has changed, but if the underlying rules are still in place, the risk remains. In today’s environment, education isn’t optional. It’s essential.

The financial system grows stronger when institutions have access to credible information, thoughtful dialogue, and trusted networks. FIBA exists to provide exactly that. Our membership community fosters meaningful relationships across borders. Our conferences create space to confront emerging risks, exchange perspectives, and refine strategy. And through our Institute — backed by the academic strength of Florida International University — we deliver education that evolves with the industry and responds to what professionals truly need.

In a world where knowledge quickly becomes outdated, our responsibility is to ensure that learning remains practical, current, and grounded in real-world application. That is how we support not only institutions or individual professionals, but the integrity and resilience of the broader financial ecosystem.