Compliance That Makes Sense

The establishment of private payment channels and small liquidity pools is a new trend that is taking place within FinTech startups’ because of a desire to remove reliance on global partners and networks. In this episode, I’m going to explain the drivers behind this. 

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:39] The new FinTech trend which is the focus of today’s episode.

[01:54] Why FinTech’s have started creating small liquidity pools and establishing private payment channels.

[03:11] Strain that has been placed on the relationship between larger banks and FinTech startups in the last few months. 

[05:13] Impacts of deglobalization on FinTech startups.

[07:02] How globalization changed the world. 

[09:25] Polarization that has been caused by the Russian invasion of Ukraine. 

[10:49] An explanation of what is driving the trends of small liquidity pools and private payment channels. 

[13:10] Changes to the questions that regulations are asking their entities that have taken place over the last few weeks.

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

There is a lot of uncertainty and conflict in the world at the moment, which is making many people fearful about the future of their businesses. In today’s episode I’m going to be sharing my thoughts on what FinTech’s should be focusing on in order to make it through the current and near-future challenges. 

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:40] Today’s episode is all about what to expect from the world economy in the near future, and how it’s going to impact the FinTech industry.

[01:49] Ray Dalio and Nassim Taleb’s thoughts on the war in Ukraine, and why I value their perspective.

[05:21] Some of the issues which are fuelling social unrest and political divisions. 

[07:01] Four types of leverage that a business can utilize for growth in today’s world. 

[07:50] Why borrowing money is a good idea at the moment. 

[08:06] Reasons that I wouldn’t recommend overinvesting into user acquisitions right now.

[08:22] Investing in infrastructure and partnerships, and releasing new products is a key area for FinTech’s to focus on currently. 

[09:13] Why you should reduce employee onboarding in your FinTech for a little while. 

[10:19] The importance of keeping your bigger goals in mind, despite the uncertainty you may be feeling.

[11:13] Advice on how to better handle the shifting needs of consumers.

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

When FinTech CEOs begin experiencing problems in their startups, many believe that the solution is to hire more people. Today I am going to explain why this strategy often ends up exacerbating the issues, rather than solving them. If you’re getting to the point where you feel like you should be growing your young startup, listen to this episode for advice on who you should and shouldn’t be hiring. 

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[01:15] A common mistake that many FinTech CEOs make in their third or fourth year in business.

[01:56] Why FinTech CEOs are prone to over-hiring employees. 

[02:37] Problems that often arise after a CEO has brought a lot of new people into the company. 

[03:45] Why you don’t need to hire super senior level people for a young start-up. 

[04:50] Downsides of hiring regional heads for compliance, risk, transaction monitoring, and investigation teams. 

[06:06] My advice for streamlining your finance department. 

[06:45] Why too many interns often cause more harm and good. 

[07:38] Benefits of hiring a head of HR early on. 

[08:28] Reasons that customer support teams are often understaffed.

[10:01] Consequences of under-hiring sales people. 

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

 

If your compliance officer is performing poorly, they should be fired from your organization, but sometimes it can be difficult to know who is responsible for the things that are going wrong, and therefore who to fire. In today’s episode I’m going to share with you some red flags to look out for which will make it easier for you to determine whether your compliance officer should stay or go.

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[01:10] Conversations that I have had recently with clients about issues they have had with their compliance officers. 

[02:52] Some of the reasons that people feel that they should not fire their compliance officers.

[04:05] A sign that your compliance officer isn’t doing their job properly. 

[06:37] Why it is a red flag when compliance officers shy away from making important decisions.  

[07:37] How groups within an organization usually react when they have made a mistake. 

[10:28] When friction within your organization requires attention. 

[12:30] Why it is easier than you may think to fire a compliance officer for poor performance.

[13:41] Different meanings that poor performance can have in different contexts.

[15:18] A trap that FinTech founders commonly fall victim to. 

 

Show links:

 

• Access the Interview Guide here.

 

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

 

It may seem like a no-brainer to create a new legal entity in a country where you are wanting to set up a business. However, today’s episode is all about why this is definitely not the right way to do things, and where you should be focusing your time and energy instead! 

If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:40] An overview of today’s super fun topic. 

[01:29] Why legal entities are more of a liability than an asset. 

[02:58] Cases wherein a FinTech founder may feel pressured to create a new legal entity. 

[07:20] Examples of major companies that delay the creation of new legal entities until it becomes really necessary. 

[08:23] What many FinTech founders don’t know about the process of creating new legal entities.

[09:00] How creating new legal entities in different countries can be detrimental to the growth of your company. 

[12:35] The reason that you shouldn’t create a legal entity before you have built up a business in a certain area. 

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

With the war that is currently going on in Ukraine, I wanted to talk about the very relevant topic of sanctions. Join me today to hear about the different types of sanctions that exist, how they work, and my thoughts on financial/infrastructure services getting involved in political issues.   

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:40] The motivation behind the focus of today’s episode. 

[02:06] Three countries that are currently under territorial sanctions, and the impacts of territory-wide sanctions. 

[03:23] Cases wherein individuals will have sanctions imposed on them, and what these sanctions mean.  

[04:16] Examples of organizations that have sanctions against them. 

[05:47] How industry-level sanctions work. 

[06:24] Why it is important that FinTech CEOs understand the different types of sanctions that exist.

[08:30] When sanctions work well, and when they don’t.

[09:54] My thoughts on financial/infrastructure services getting involved in political and environmental issues. 

[13:48] An example which highlights why I don’t think the sanctions imposed against Russia, including  SWIFT selected banks removal. will have their desired effect fast enough. 

[14:43] Why Switzerland and Singapore are being hesitant about adopting the approach proposed by the EU and US to preserve their neutral status. 

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

Buy-now-pay-later (BNPL) services are a growing trend, with year-on-year growth in the sector over the next few years expected to be 15-20%! Despite the value that it provides to many retailers and their customers, the BNPL model also has a number of problems. In today’s episode I’m going to explain why regulators are beginning to worry about it, and changes that I expect to see take place in this industry in the future. 

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:47] What I expect the future to look like for buy-now-pay-later (BNPL) services.

[01:24] How regulators deal with trends that are small and contained, in comparison to how they deal with trends that have gained major traction. 

[03:45] The percentage of online shoppers who use BNPL services. 

[04:30] Why the BNPL model came into being. 

[06:15] Problems with the way companies are promoting BNPL services. 

[07:36] The lack of regulation around BNPL services. 

[09:30] An explanation of how BNPL services work. 

[11:21] How paying with a credit card differs from paying via a BNPL service. 

[14:01] How adding BNPL services is expected to increase a company’s revenue. 

[15:11] Regulations that I expect to be introduced in the BNPL sector. 

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

As a FinTech startup founder, it is almost guaranteed that you will experience some form of crisis at some point in your journey in the industry. And more likely than not, you will experience more than one! In today’s episode, I discuss some of the more common crisis situations, from counterparty failure to regulatory issues, and offer advice on how to deal with them.

If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:42] The focus of today’s episode. 

[01:11] How I define the term ‘crisis’ in this context.

[01:56] Examples of how a counterparty failure crisis can play out in the FinTech industry. 

[03:39] Other common problems experienced by FinTech startups.

[05:28] Situations that may feel like a crisis to a new founder, but which are actually not the end of the world.

[07:12] Why every FinTech startup will go through at least one crisis situation (and probably many more!). 

[09:21] My advice for dealing with a counterparty failure. 

[12:07] Warning signs for regulatory issues, and what to do when these arise. 

[13:12] The importance of being open and honest with regulators. 

[14:16] Survival rate for FinTech startups that experience a crisis. 

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!
  

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.

 

This episode is for anyone who is wondering whether they should be offering a crypto denominated checkout option on their online store. In today’s episode I’m going to run through the do’s and don'ts when it comes to crypto payments, and after listening to this episode, you should know whether or not it will work well for you!  

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:50] Some of the questions that I have been asked recently about crypto checkout on online stores. 

[02:47] Why I recommend doing refunds in fiat currencies. 

[04:17] The value of setting up automatic conversions if you accept payments in crypto but it is not your main business. 

[05:07] Confusion that can arise if you accept many different forms of crypto as payment.

[05:55] An important factor which can help you decide which crypto currencies to accept. 

[06:38] Examples of circumstances under which it will benefit a company to add crypto as a payment option. 

[10:12] Why you should add a crypto denominated monkeybag or cash back program to your platform if you are going to offer crypto as a payment option.

[11:12] When you do and don’t need a license to add crypto as a payment option to your online store. 

[12:44] Where you can go to learn more about today’s topic. 

 

Show links:

• To learn more about adding crypto as a payment option to your online store, click here. 
• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!
• I would love to invite you to sign up for my newsletter. If you are interested, please click here.
• Lirium AG Services: https://competitivecompliance.lpages.co/the-most-efficient-way-to-add-crypto-services-to-your-fintech-business/

 

You may not know this, but before you can apply for a FinTech license, you need to go through the pre-application stage. This stage can feel like a time-waster, but it is actually very valuable. Tune into today’s episode to hear why!

If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. 

 

Today's episode:

[00:58] What the license pre-application stage is, and why it exists.

[02:04] Percentage of potential applicants who actually apply for a FinTech license.

[02:44] The main goals of the pre-application stage. 

[03:56] Examples of circumstances under which your formal application could be rejected.

[05:20] What you will learn from going through the pre-application stage. 

[06:34] Information that you are required to submit during the pre-application stage.

[09:36] Why it’s important to disclose your sources of funding during the pre-application stage. 

[10:59] What is expected of you during the pre-application stage in terms of risk assessment and IML. 

[11:27] Factors that are not important during the pre-application stage. 

[13:01] The average length of time it takes to get through the pre-application stage.  

 

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!

 

• I would love to invite you to sign up for my newsletter. If you are interested, please click here.