The French banking supervisory authority and the country’s securities regulator are teaming up in a bid to support innovation in France's nascent fintech sector.

Speaking at the Fintech R:Evolution conference in Paris on May 3, François Villeroy de Galhau, governor of the Banque de France, announced that its prudential arm, the Autorité de contrôle prudentiel et de resolution, and the Autorité des marchés financiers regulator would set up dedicated fintech teams with a joint remit to work with French fintech startups.