"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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