The Detroit Fintech Association is a nonprofit trade organization formed to highlight the existing culture of technology-driven financial services in Detroit.
The company plans to double its headcount over the next year.
"It literally threatens the governments that issue currency, the banks that store it and the actual transmission network," Tally's Jason Brown says.
Customer penalties are a significant source of revenue for the financial industry: The 10 biggest banks collected more than $11 billion in overdraft fees in 2017, according to the FDIC.