Compliance That Makes Sense

In this episode, Yana will talk about what is safe to say and what isn't safe to say about FinTech financial services, marketing, PR, communications, and its relation to compliance. Yana also discusses how to make or not make market predictions or how to avoid talking in a way that you look like you are offering personalized investment advice, plus so much more on this Compliance That Makes Sense episode. 

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, everybody!
• [01:24] Yana discusses how or how not to make market predictions.
• [04:02] Yana shares what is safe to say around public information.
• [06:06] Another mistake is when companies make self-composed rankings and top lists.
• [08:30] Yana speaks about some things you should never say or talk about.
• [10:41] Yana discusses what makes your services less stable, predictable, and reliable.
• [12:00] It is a bad idea to make statements or actions to align your pricing with someone else.
• [14:06] Thank you for listening!

Show links:

• Compliance That Makes Sense Information - click here to see if this is the right fit!

Today, Yana is making predictions for 2021; she is focusing on FinTech. Compliance, how we view risks, and what may or may not happen in the next year. Yana discusses which FinTech services and which type of services will grow and attract customers, and also how new businesses and new business models have brought together a new class of people she calls the affluent segment. Yana also talks about the decentralized finance segment plus so much more on this Compliance That Makes Sense episode. 

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, everybody!
• [01:03] Yana speaks about how much people trust governments.
• [01:41] Many new businesses and business models have been created.
• [03:26] Yana feels that this new segment of people will grow this year.
• [04:25] The decentralized finance segment will be the next regulatory target.
• [06:45] Another prediction is based on the fact that many governments are printing money and pouring money into new businesses and startups.
• [08:10] Yana believes that the most backward and convoluted finance area continues to be asset management and private banking.
• [10:17] Trade financing, corporate treasury services, and cross border commercial payments.
• [12:42] Yana now speaks about retail and consumer-focused services.
• [14:26] Yana feels that more and more FinTech's will include crypto as a payment option.
• [15:52] Thank you for listening!

Show links:

• Compliance That Makes Sense Information - click here to see if this is the right fit

Brexit happened, and the UK is no longer a part of the EU, which means passporting and mutual acceptance of financial services need to be revised. Listen as Yana talks about what we know about the movement of goods and services, what needs to be documented and formalized, and if financial institutions on the other side meet the standard of domestic legislation. Yana discusses what we have to watch regarding a decision on regulations that will impact the FinTech industry, plus so much more on this Compliance That Makes Sense episode. 

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, everybody!
• [01:19] Yana discusses Brexit and how the UK is no longer a part of the EU.
• [03:52] Yana speaks about the links and references she will provide for this episode.
• [04:32] Yana talks about the decision regarding GDPR.
• [06:14] Yana shares some interesting facts regarding FinTech space.
• [08:40] Yana feels entities don't have to establish branches on the other side of the channel.
• [09:56] Hope this was helpful. Bye for now!

Show links:

• Compliance That Makes Sense Information - click here to see if this is the right fit
• EBA informs customers of UK financial institutions about the end of the Brexit transition period
• HM Treasury equivalence decisions for the EEA States
• The EU-UK Trade and Cooperation Agreement

Are you ready to discuss Ripple versus the Securities and Exchange Commission? Yana uses Ripple as a starting point to analyze what it means for various token issuers in terms of how they position themselves, how the SEC views them, and what's possible in this space. Listen as Yana speaks about the lawsuit the SEC filed against the Ripple Company, the SEC's view of Bitcoin and Ethereum not being securities, why Ripple XRP is a security, and three things to think about if you are planning to sell tokens to the U.S. plus so much more on this episode of Compliance That Makes Sense. 

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, everybody!
• [01:39] Yana shares the lawsuit the SEC filed against the Ripple company.
• [02:58] What makes Ripple XRP a security?
• [04:18] Yana speaks about the story of the lawsuit and why she finds it so fascinating.
• [07:26] Yana believes this case is totally American because the European Market wouldn't look at it in the same way.
• [10:27] The market value of the XRP token doesn't correlate with Ripple's corporate results.
• [12:50] Yana says that the SEC is trying to interpret certain statements made by Ripple executives.
• [14:20] Yana shares an example of when she believes the SEC was very lenient and imposed tiny fines.
• [18:01] Yana talks about an example of how not to behave with the SEC.
• [20:25] Yana discusses three lessons in terms of what to think about when planning to distribute your tokens in the U.S.
• [22:56] The most important lesson is don't fight with the authorities and play nicely.
• [23:28] Thank you for listening!

Show links:

• Compliance That Makes Sense Information - click here to see if this is the right fit

Are you ready for an epic episode? Yana will summarize her vision for FinTech compliance, how it should be billed, how it could be optimized, and what it should look like. Yana shares her top three examples of where FinTech companies lose money, time, resources, and energy in compliance and compliance requirements because she believes this is completely unnecessary and completely avoidable, plus so much more on this episode of Compliance That Makes Sense. 

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, my friends!
• [01:24] Yana believes that a lot of money, time, resources, funds, and energy are being wasted in compliance and compliance requirements.
• [01:54] Listen as Yana shares where FinTech companies lose a lot of money.
• [03:03] Another example is when they have a project that requires other people's approval.
• [04:32] A third example is poor preparation and bad management of regulatory inspections and external audit outcomes.
• [06:27] If it's not money, knowledge, or more people or resources, what are the strategies that you need to know to make your compliance scalable?
• [07:05] The first success factor is to manage long term FinTech projects as lean and agile technology projects.
• [10:19] One of the most important components is VIP level user experience.
• [12:32] Video verification is where you lose most of the people.
• [14:46] Yana discusses the 'Just in Time' process is another area she believes there are many opportunities for improvement.
• [17:39] Documenting your processes in advance is a way to streamline the process.
• [18:16] The last thing Yana wants to talk about is that you need to have the right cooks in the kitchen.
• [20:13] Yana has never seen a FinTech company fail or go bankrupt from compliance.
• [23:31] Thank you for listening!

Show links:

• Compliance That Makes Sense Information - click here to see if this is the right fit

Yana discusses a topic today that is a little technical, but still a question she gets asked all the time. Listen, as Yana spends a little time talking about the difference between issuing banks and acquiring banks or issuers and acquirers roles as it applies to the card industry. Issuer is a  financial institution that gives the consumer a card, while acquirers are services that are merchant focused. Yana hits on things you should know about these two services, plus much more on this Compliance That Makes Sense episode. 

Want more? - Subscribe to Yana's super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, my friends, welcome back!
• [01:19] Yana shares the difference between issuing and acquiring and what they do.
• [03:14] Yana speaks about how acquirers are services that are merchant focused.
• [05:02] Yana discusses some important things to understand about the setup of the card industry.
• [07:43] Every time a merchant gets paid, there is a fee that the card issuer and others receive.
• [09:09] There is a major disparity between issuers and acquirers; one does things for free because they have less risk while the other charges fees because they have more risk.
• [11:27] Yana shares an example of how the card industry tries to rebalance and shift responsibility for potential losses.
• [14:01] Listen as Yana gives some scenarios of what could be in place and the variations' requirements.
• [16:28] Yana highlights the fact that everything she mentioned in this episode is related to the card industry and Fiat funds.
• [18:04] Thank you for listening!

Show links:

• Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.
• FinTech Compliance for Startups - https://yana-afanasieva.mykajabi.com/yes

"2021 will be a year where professions that have been information-based will shift." Today, Yana is discussing why she believes that the compliance function is an implementation function instead of just a providing information function. Yana argues that compliance has changed over the years, and since information is everywhere, it's not as powerful as it once was. Yana shares that for her compliance is giving the available options, the pros and cons of each alternative, and what she recommends they do. Listen as she gives examples, thoughts, and insights into why she believes the function of compliance has changed, plus much more on this Compliance That Makes Sense episode. 

Want more? - Subscribe to Yana's super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, my friends, and Happy New Year!
• [02:01] Yana says that information is everywhere and doesn't believe that more information means more power.
• [03:30] Yana gives some examples of what she is talking about.
• [05:03] Yana speaks about a book she read recently called The Price of Panic.
• [08:10] The book brings up examples of how expert opinion can be dangerous.
• [09:39] Yana illustrates the implications of different conflicts or organizational drama that exists.
• [12:24] Yana feels that 2021 will be a year where professions that have been information based will shift.
• [14:24] The goal will be to finish a project without breaking any laws successfully.
• [15:56] Thank you for listening!

Show links:

• Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.

Did you bring your sense of humor with you today? Listen, as Yana shares a special episode with you on how knowing compliance can be extremely useful when it comes to dating sites and investigating the people's businesses looking to date you. A good compliance officer, if they are good and if they have done their job, should be able to produce a coherent story or narrative of the company and be able to identify what is missing and what is consistent, plus much more on this Compliance That Makes Sense episode. 

Want more? - Subscribe to Yana's super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:33] Hello, everyone!
• [01:02] Yana shares a story about her friend and a dating site she was on.
• [03:38] Yana says that you should see a story and a sequence of events that make sense to you when you are doing a compliance investigation.
• [06:05] There has to be a coherent story and why they want your compliance service.
• [06:45] Listen as Yana shares what happened to her recently.
• [08:16] The information the compliance gathered was paralyzing the partnership's whole analysis and wasn't relevant.
• [09:40] It's very easy to find negative information on a person or business without knowing the facts.
• [11:16] They should be able to identify what is missing and what is consistent.
• [13:25] Thank you for listening!

Show links:

• Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.

Do CEOs and founders worry about compliance too much? In this episode, Yana wants to discuss some things that are more fundamental, like problems, issues, or misconceptions that she believes have been around for a long time. She hopes that this conversation will show you a different way to approach and think about compliance. Yana will share her perspective on addressing some of these things and how to think differently in different areas like misconceptions or lies about compliance that live in many founders' mindset and belief system, plus much more on this Compliance That Makes Sense episode. 

Want more? - Subscribe to Yana's super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:34] Hello, my friends!
• [01:41] Yana will state a belief, misconception, or lie and then give her perspective.
• [01:54] Compliance is a big cost or a burden.
• [02:20] Yana shares her perception of this belief.
• [03:40] It is hard to find good people in compliance.
• [03:54] Yana gives her insight into this comment.
• [05:30] I don't have the money to invest in compliance.
• [05:52] Yana gives her view on this belief.
• [08:51] Have you invested enough in compliance? 
• [10:06] Founders look for a complete list of everything that is required to be compliant.
• [10:48] Yana addressed this issue in Episode 11.
• [11:45] Founders feel like they want to drive their compliance decisions by themselves.
• [12:39] Yana shares a warning for anyone who believes they can do it on their own.
• [14:13] Yana says they can learn compliance, but if they are a CEO or founder, they probably won't be doing your actual job.
• [16:04] Yana feels like many founders and CEOs worry about compliance too much.
• [18:46] Thank you for listening!

Additional Materials:

Is your compliance lean and agile? If you are not sure, go to www.competitivecompliance.co/lean-compliance-quiz and answer 6 questions to get specific recommendations on how to reduce your compliance cost.

Listen as Yana discusses why some FinTech startups make it to the top, keep growing, and secure license applications, partnerships, and funding. In contrast, most startups just run out of money and aren't able to make it. What is it that those few startups have figured out? Yana gives her insight into the symptoms that might cause you to fail and what she believes is the secret sauce that allows some to make it, plus much more on this Compliance That Makes Sense episode. 

Want more? - Subscribe to Yana's super popular newsletter everyone is talking about!

If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 

Today's episode:

• [00:33] Hello, my friends, and welcome back!
• [01:32] Yana shares some symptoms that might cause a startup to lose money and fail.
• [03:45] There is a lot of free and paid content published on FinTech compliance. Are you taking advantage of this information?
• [05:32] Agile, just-in-time methodology is proven and most recognized in delivering tech products.
• [07:22] Yana says she is always asked for a complete list of what they need to be in 100% compliance.
• [10:21] Yana discusses what she learned when she started with Amazon and PayPal.
• [12:12] Yana talks about her job responsibilities when working with PayPal.
• [14:34] When large companies like PayPal and Amazon share customer processes, or payment flows with younger FinTechs, it involves decision making around risks.
• [16:31] Yana speaks about how she sees the FinTech compliance function evolve.
• [18:45] Listen as Yana talks about your customer onboarding, and although you might be automated, everything else is manual.
• [21:15] When you have inconsistencies, your compliance cost per customer and time cost per customer is getting higher day by day.
• [23:06] Have you found the right balance between compliance efforts and growth opportunities?
• [26:02] Thank you for listening!

Additional Materials:

Is your compliance lean and agile? If you are not sure, go to www.competitivecompliance.co/lean-compliance-quiz and answer 6 questions to get specific recommendations on how to reduce your compliance cost.