The well-established nature and high price points of large consulting firms have led to the common assumption that they are the best choice for FinTech companies looking for support with their license applications. Big Four firms do have a role to play, but in today’s show, I explain why this Read more…
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 how these relationships are fundamentally different: How these fundamental differences Read more…
Regulatory projects often take longer than you may expect, which can be very frustrating. In today’s episode of Compliance That Makes Sense, I am going to explain the various reasons that delays occur, and the circumstances under which you should expect these delays and prepare for them so that you Read more…
Today, Yana is going to share the pros and cons and different approaches to buying an already established FinTech company versus starting a new one and applying for your own license. Yana is in the middle of a project that actually involved both, so she feels she has a unique Read more…
Compliance Officers are almost never promoted within their companies and have to change jobs to get ahead – it’s just statistics. Since I often help my FinTech founder clients to interview their compliance leaders and regularly give feedback about their existing teams, I think I have a perspective. Most compliance Read more…
Today, I’d like to summarize for you what would be the core advantages of having a licensed and properly regulated status in the EU for a global FinTech or crypto company. Large and relatively unified market (thanks to unified payments, consumer protection, privacy, security, and other relevant regulations) allowing to Read more…
Today, I wanted to warn you about some common mistakes that I see in many FinTech marketing communications and public statements (This is already above and beyond the basic requirement not to call yourself a bank of the future or a digital bank or a crypto bank without having a banking Read more…
Dear FinTech fellows! You heard it right – I’ve put together a brand new absolutely mind-blowing value-packed FinTech compliance workshop and it’s totally different compared to everything I’ve done before because we will not talk about laws and regulations at all, but we are actually going to talk about SAVING Read more…
I recommend that every compliance professional should ask their founders or executive team the following questions before they decide how to allocate their compliance resources and budget 2021. The FinTech industry is struggling with scaling and profitability, customer churn due to inefficient onboarding design, long approval cycles waiting for regulatory Read more…
What is really sad and devastating for the FinTech industry is to see how old-fashioned and narrow-thinking compliance professionals slowly kill their companies by doing [many or all of] the following: They try to make their management and Boards fearful and suspicious of internal and external audits, which makes audit scoping Read more…