Eavesdrop LIVE Podcast

In today’s episode of Compliance That Makes Sense I am going to burst the bubble of confusion that exists around passporting. By the end of today’s show, you will understand what passporting means, the benefits of it, what the available three passportable services are, and the process that you need to follow to get passported. 

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:

[00:32] Greetings from Majorca, and an introduction to today’s topic. 

[01:12] Confusion that exists around passporting in the EU.

[01:33] An explanation of what passporting is. 

[02:18] The three passportable services covering different financial activities.  

[03:50] Examples of circumstances under which your license will not be passportable. 

[05:42] Why it is important to understand the difference between passportable and non-passportable services.

[06:38] How you can provide services without passporting, and the limitations of using this model.  

[08:10] Warnings that can be given for businesses offering services without passporting.

[10:06] The process that you need to follow to get passported. 

[12:38] If you haven’t heard back 3 months after submitting your application, you can assume everything is fine. 

[14:46] Bye for now!

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 of Compliance That Makes Sense was inspired by interactions that I recently had with two of my clients, both of whom were having problems with the compliance experts they had hired. The information I am going to share with you today will help you to avoid making the same mistakes they did. Firstly, I debunk the myth that compliance hires should be experts in the specific country in which you are working, and I explain why a geographically broader scope of knowledge will be more beneficial to your company. Secondly, I explain what each characteristic on the DISC personality profile is likely to predict about a person’s ability to perform in the start-up world in general, and as a compliance expert specifically. 

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

Compliance person needs to be able to get things done even if things aren’t going smoothly. 

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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. 

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Today's episode:

[00:33] Hi guys, wishing you a beautiful day today! 

[01:08] The reason that I was inspired to have this discussion about mistakes people make when hiring compliance experts.

[02:00] Assumptions about hiring compliance experts made by two clients that I recently worked with. 

[03:06] Why I disagree with the practice of only hiring people who only have expertise in a specific country. 

[05:54] Why working with companies who have projects in many different countries will be beneficial. 

[07:51] What the DISC personality profile is.

[09:44] The characteristics on the DISC profile which largely determine whether someone will be successful in the start-up world. 

[11:58] Why a lower compliance score on the DISC profile increases a person’s chances of succeeding as an entrepreneur.

[14:30] I run through how important each of the DISC characteristics is for a person in a compliance role.

[17:45] Bye for now!

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.

Regulatory projects often take longer than you may expect, which can be very frustrating. On 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 aren’t disappointed. Of course, every project is unique, so keep in mind that these are just guidelines. I’ll also share with you what the average length of time is for the completion of a regulatory project, and why you should be careful of who you trust when it comes to obtaining information about regulatory projects. I’ve also got some exciting news to share, so don’t miss out on this episode!

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

Today's episode:

[00:36] Why I am feeling very happy and excited today! 

[02:03] All regulatory projects are unique, but I share the average length of time that they will take to complete.

[02:57] Why you need to expect a delay if you are applying for a license now.

[04:04] How new laws impact your ability to obtain compliance. 

[07:10] Other challenges which can also slow you down.  

[08:17] The grass isn’t greener on the other side.

[10:44] How to prepare for delays that arise due to changes in the law.

[13:20] Why you can’t trust everyone who speaks at conferences about regulatory frameworks. 

[17:00] Plan for a year long wait to receive your compliance!

[17:23] Bye for now!

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.

In this episode of Compliance That Makes Sense, I am talking about geo-expansions in FinTech, how to prepare for your expansion, what to have in mind, what the options are and how I recommend going about it. When I talk about geo-expansion, what I mean is that you have an existing entity, and you are simply adding a new country into your scope of services. I will share some questions I have received and give my answers and suggestions to help you if you are considering geo-expansions.

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

Today's episode:

[00:33] Hey guys, I'm back!

[01:58] Do I launch all the countries at once or sequence them one after another?

[04:51] I share some practical aspects to consider when you launch in a different country.

[07:59] Listen, as I describe reasons, you need a different fee structure or terms and conditions for people from different countries.

[08:19] I recommend that it's better to start with a soft launch.

[10:15] The last question I want to cover is how to communicate with authorities, both your home regulator where you are based and with the local authorities if needed.

[12:52] It's always a good idea to share with regulators your financial projections.

[15:02] Financial service usage is driven by a desire to pay or be paid with fewer fees and more speed, and better transparency.

[16:31] Bye for now!

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.

In this episode of Compliance That Makes Sense, I am talking about a controversial topic; which is how to choose a crypto card if you are a consumer or if you are a Fintech and you are offering a crypto card; what considerations you need to keep in mind, especially around offering prepaid versus debit cards. As a consumer, you might want to know why you might need a crypto card, which is best prepaid or debit, and the things you should consider. For FinTech startups, the important things to look at are whether or not instant buy or instant sell of cryptocurrency is allowed and what it means for the card structure. Listen as I give my insights and opinions on this topic, and hopefully, you will come away with a better understanding of what to look for.

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!

[02:04] How to choose a crypt card and why you might want one.

[03:45] I share the most important considerations a consumer needs to be aware of.

[06:50] I see some issues when it comes to trading and trying to capture different prices.

[09:18] What to look for when looking for a provider.

[12:18] What is important to Fintech founders?

[14:26] I share what, ideally, a Fintech startup needs to offer for consumers.

[16:44] I explain the unique structures for prepaid and debit cards.

[18:44] Bye for now!

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.

Today we are going to talk about what to do when people don't pay you. It's very common in the start-up world that sometimes people don't pay you, and there are different scenarios of why it happens. I will specifically focus today on when people don't pay you, hoping they will get away with not paying. They hope you will lose interest, go away, or that the amount is too small to worry about, and you won't make deliberate efforts to get the payment. Listen as I discuss how to avoid getting into these situations to start out with, plus 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:

[00:33] Hello my friends!

[02:49] The best way to solve a problem is to avoid the situation that leads to a problem.

[04:29] You can raise a complaint with a regulator.

[06:13] Another strategy would be an organization called Debt Register.

[07:45] You can send a formal letter to a bank the person does business with.

[09:35] Do I need to issue a warning before or just do these things to solve my problems?

[12:25] People can read your behavior and see if you are hesitant to enforce your boundaries.

[13:43] Thank you for listening!

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.

Today I want to talk to you about what internal controls are and how they differ from compliance. Recently someone reached out to me from a company I had worked at a couple of years ago and wanted to know why they didn't have a document called Internal Controls Policy. Internal controls are a system of everything you have in your company in terms of how you manage risks, processes, how you organize yourself, and how you check you do what is written in your policies. Listen as we discuss how this differs from compliance plus 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:

[00:33] Hey guys, happy Monday!

[02:06] I define what internal controls are.

[03:33] I share what should be included in your internal control policy, no matter what you call it.

[05:00] Finance is a big part of internal controls.

[06:09] Another important control is anything that is outsourced.

[06:53] What you should have is some form of an annual compliance report.

[09:26] It's not that complex or overwhelming because essentially, internal controls are everything you do around risk compliance and government.

[10:17] You don't need to appoint an internal controls officer in most countries.

[11:22] Bye for now!

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.

Are you looking for a job in compliance? I chose this topic today because it feels like everyone around me is about to change jobs, look for new jobs, or search for new people. Changing jobs is a trend that continues as people are looking for more, going bigger, and trying to accomplish their goals. Today I wanted to tell you what I've learned about watching experienced people go back to job searching after years of staying in the same position and kind of being out of practice with everything that goes into searching for a new job. I hope this episode helps you if you are one of the many thinking about looking for a new job.

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

Today's episode:

[00:33] Hey guys, I'm back!

[02:45] My friends asked me if I thought they needed to find someone to update their resumes.

[04:00] Talk about the core projects you have handled when updating your resume. 

[05:19] In my opinion, people pay attention to your LinkedIn profile, so you should have it organized and updated if you are looking for a new job.

[08:23] Publish articles on LinkedIn because it will connect you to people, and they can comment or connect with you instantly.

[11:00] People are going to judge you no matter what you do.

[11:58] Many FinTech companies practice home assignments where you receive interview questions in advance.

[12:44] I share some questions they may ask you in an interview.

[15:44] You need to know what is critical outsourcing and what isn't.

[16:35] Good luck on your job search!

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.

Today I want to talk to you about competition, how important your competition is, and more specifically, how much time I feel you need or don't need to spend studying your competitors when it comes to compliance. Sometimes my clients would ask me do you know how my competitor is doing this or that? Or how is it possible that they can offer this service or product in this market? I understand the questions that are behind them, like, am I missing something? Am I missing an opportunity? So listen as I try to break this down and discuss my feelings on these questions, plus 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:

[00:33] Hello my friends, how are you today?

[03:00] Because the questions about competition and how much you need to study your competition have become so interesting, I dedicated this episode to them.

[03:45] Listen as I share why I believe these questions are irrelevant.

[05:16] There is no such thing as parity in compliance!

[07:36] Compliance or regulatory framework work as a puzzle.

[08:35] I share a much better set of questions to ask.

[10:26] You always have to start with what is my problem I want to solve or what is my product or service I want to offer and where.

[11:32] I hope this has been helpful.

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.

Welcome to the third installment in my mini-series on The Rise of Just in Time Compliance. Today I wanted to answer whether or not the just-in-time method is right for you, if you are a Fintech expert or if you work in the Fintech industry and you are not sure how it applies or doesn't apply to you. To answer this question, I would like to suggest that you ask yourself what you want to achieve? I believe from my years of working in the industry, what people want most are time and money. When talking to people at different levels in the industry, the definition of time and money can be different. Listen, as I dive into the three pillars, everyone needs to make progress or move up in the company 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:

• [00:33] Hey guys, I'm back!
• [01:35] To determine if this method will work for you, decide what it is you want.
• [04:00] People in more senior levels really want to diversify their income and become board members in their company.
• [06:01] There are three pillars that everyone needs to make progress: knowledge, good at time management, and skill in creating visibility.
• [09:06] I feel that the essential step that will help you build visibility is creating your signature framework.
• [11:40] Anyone can create their own framework around your expertise and knowledge.
• [14:45] I am super excited to offer to teach you how to create your own framework.
• [15:54] There are two operating models that most people gravitate to, either as hospitals or as a birthday party.
• [19:04] You can see how traditional corporations and old-fashioned institutions tend to be similar to hospitals, while startups tend to be more like a birthday party.
• [21:02] If you want to follow just-in-time principles you have to accept, there will be uncertainties.
• [22:24] Bye for now.

Show links:

• Follow this series, which is published on the Rise of the Just in Time Compliance page, and by the time you will finish it, you will have a complete blueprint of all key success factors you need. For the FRAMEWORK Masterclass, click here to sign up!

• 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.