Eavesdrop LIVE Podcast

"Timing is everything with this project." Today Yana discusses one of the most frequently asked compliance questions she hears; how soon can you get me a compliance license, and what the process looks like? People worry about this question because they want to plan when to launch products when hiring employees and marketing personnel. Listen as Yana gives a quick and brief overview of what is important and what is not important at each stage 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:

• [00:34] Hello everyone, and welcome back!
• [01:56] Listen as Yana shares the most common misconceptions ever.
• [02:36] Timing counts, but your team's credibility doesn't help in the early days.
• [02:49] Hiring big four consultants or a famous legal firm will not help you be approved quickly.
• [03:57] Do you believe that license applications need a lot of money to be successful?
• [05:24] Yana suggests that a FinTech license application will be more successful when managing it as a lean and agile project.
• [06:13] Listen, as Yana shares the three distinct stages in any FinTech application process.
• [07:23] Yana discusses the pre-application stage and what is important.
• [10:11] Yana shares what you don't need at this pre-application stage.
• [12:16] Yana speaks about what happens when your application has been submitted for review.
• [13:22] How do you know when you are making progress?
• [15:07] During application, the regulators want to know if you are making progress on your end.
• [16:22] Every license application that Yana has seen runs into a roadblock.
• [17:41] Yana says, don't give up, don't move to a new country. Listen carefully to the feedback and agree to simplify the product or remove the issues that cause concerns.
• [19:42] Yana discusses the post-application stage, and sometimes you can't launch your product immediately.
• [21:00] In some cases, some conditions need to be audited. 
• [23:16] Yana shares the key components and milestones important for the license application stages.
• [23:52] Thank you for tuning in!

Show links:

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

Welcome to the first episode of Compliance That Makes Sense. Listen as your host Yana Afanasieva discusses compliance, where it was five years ago versus where it is now. Yana shares the changes she has seen over the years and the three main pain points experienced by compliance professionals. Yana also gives her opinion on how to scale compliance as a function and prepare it for the future. This is an eye-opening discussion on all things compliance; you don't want to miss this first of many exciting conversations to come.

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

Today's episode:

[00:36] Welcome to the show, everybody!

[00:58] Yana discusses compliance as a function and where it was, compared to where it is now.

[02:44] Yana speaks about the changes happening in the last five years, with automation being one of them.

[03:26] Two-factor authentication in Europe has become the norm.

[04:00] Another change is how people rely more on public information, news, adverse media scanning, and social media for compliance decisions.

[05:02] Yana believes that large institutions and their compliant and risk team feel empowered to say no more frequently.

[06:09] Yana shares the three main pain points being experienced by compliance professions.

[08:36] Listen as Yana explains why compliance professionals do what they do.

[10:32] Yana shares her personal observations of companies that start and then finish the registration process.

[12:28] Yana discusses where she sees compliance as a profession is going.

[12:55] Yana describes the key problems in Fintech.

[13:45] Yana shares her opinion on how to scale compliance as a function and prepare it for the future. 

[14:35] Thanks for listening!

Show links:

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