I know, it sounds counter-intuitive and confusing, but it’s the reality: what you do as a FinTech startup in order to open your bank accounts is almost entirely opposite to what you do to secure a license application. Here is Read more…
Five of my FinTech clients lost some of their banking relationships this year, despite the fact that they had been partnering for 3 years prior to that. There were 2 main reasons for account terminations: FinTech startups commenced new activities with new Read more…
In the last months, a few of my FinTech clients have asked me to review their application forms for bank account opening. Here are examples of SUPER IMPORTANT questions (that look very innocent and almost boring) where I felt the Read more…
The pan-governmental regulatory body, The Basel Committee, recently released a draft document that contains a proposal that is sure to change the cryptocurrency landscape. In this episode, I explain what the proposed regulation means for banks who are holding cryptocurrencies, Read more…
Over the past few years, there has been an increase in the amount of money that companies are spending on compliance, but this is not having its desired effect; there are just as many, if not more, compliance issues occurring. Read more…
Today, I’m offering you a history lesson on how FinTech compliance goes from Stone Age to Leverage. 1. Age of Innocence: At the beginning of your FinTech compliance journey, you assume you are not regulated, too small, unprofitable, and therefore, no Read more…
I have been part of dozens of FinTech projects over the last three years and they were all successful, which is why I felt that for today’s episode it would be helpful to share with you where and why FinTech start-up Read more…
FinTech founders or CEOs want to be positive and inspirational and deliver only great news talking about growth, opportunities, or achievements of important milestones. They hate to resolve conflicts, take sides, admit mistakes, cancel projects, and they especially hate pushing Read more…
Inquiries are okay, but nobody likes getting complaints from customers, and in this episode of Compliance That Makes Sense, I am going to share some tips on what you can do to avoid them. I use examples to explain why it is Read more…
Let’s talk about the difference between inactive, suspended, dormant, and closed customer accounts. An inactive account is an account that cannot transact. This may happen for a number of reasons. For example, some accounts can be inactive when they just registered Read more…