“Not treating compliance as a function responsible for revenues is not just a poor cost decision; it’s simply ignoring the reality of the underlying processes.” 

In this episode, I explore the defining characteristics of cost and revenue centers and share my thoughts on the problems with looking at compliance as a cost and why it should be viewed as a revenue generation function instead. 

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Today’s episode:

• [00:40] An overview of today’s topic. 
• [01:32] Some of the most common workplace challenges experienced by compliance officers. 
• [03:08] The defining characteristics of a cost center.
• [04:04] How compliance costs are usually categorized. 
• [04:30] The primary goals of revenue centers and the activities that they focus on. 
• [05:00] How the success of a revenue center is measured.  
• [05:49] The problem with treating compliance as a cost center. 
• [06:37] Some of the biggest costs of customer acquisition and activation. 
• [08:13] How compliance impacts the cost and speed of customer acquisitions. 
• [08:50] Examples of issues that are likely to arise when compliance is viewed as a cost center.
• [11:23] Benefits of treating compliance as a revenue center. 
• [12:29] How to sign up for the FinTech Compliance Pro Certification! 

Show links:

• Register here for the FinTech Compliance Pro Certification.

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