Compliance That Makes Sense: Recent Episodes

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I’m excited to explore the psychology of second chances, why we’re so skeptical when people change their minds, and if public opinion ever actually reflects personal beliefs. We’ll discuss Mark Zuckerberg’s apparent about-face on censorship, corporate flip-flops on diversity programs and the underlying forces behind those reversals. We’ll also cover the concept of preference falsification and why people often say one thing publicly and believe something entirely different privately. Then we’ll get into meme coins, the risks of hype-driven investing and why some tokens are just digital gambling dressed up as innovation. Finally we’ll talk about risk assessment, and I’ll share a weird tidbit about how martial arts training may have influenced some of the biggest business leaders today.

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:

• [00:57] Today I'm going to talk about second chances and why I'm very skeptical about giving people chances.
• [01:24] Recently, a lot of people have been changing their minds. Mark Zuckerberg has changed his mind on censorship.
• [02:50] For many people, public opinion and private opinion are not the same.
• [04:14] Social change happens when other people see people saying their private opinion out loud. Preference falsification is where people might falsify their public opinion for the sake of being accepted.
• [06:01] Dana White was having a conversation with Tucker Carlson about how he was invited to be a board member for Facebook.
• [07:31] He was invited to be a countering voice and will share his opinion if he feels the compass is off.
• [10:00] People rarely change and usually go back to their true self.
• [11:08] A meme coin launched by an African country to collect funds to support their government initiatives. After people bought it the price dropped close to 100x.
• [12:48] A meme coin is like a token that represents an initiative that clearly states what they're going to do with the funds. A classic example of this is Dogecoin.
• [14:27] They may not necessarily be illegal, but there's a lot of incentive to manipulate it.
• [15:42] Risk and what it means to be skeptical or risk averse. Less is more when it comes to risk assessment. Identify the risk and how you're going to address them.
• [18:51] Seeing risk everywhere and trying to disclose everything that could go wrong is not necessarily being responsible.

Show links:

• Join my free workshop focused on building a successful year here!
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• Follow My Vlog on LinkedIn
• Private Truths, Public Lies: The Social Consequences of Preference Falsification
• How Self-Censorship Works: Preference Falsification Explained | Marc Andreessen And Lex Fridman
• Dana White: Joining the Board at Meta, the Bryce Mitchell Controversy, and His Friendship With Trump

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I’m excited to dive into the Deepseek hype, the Chinese AI startup that claims to have a model as good as ChatGPT for a fraction of the cost. We’ll talk about what that means for the future of AI, national AI models and censorship, and why every country will soon have its own “filtered” version. Then we’ll switch gears to Piers Morgan and Tucker Carlson’s fascinating exchange, unpacking the art of debate and intellectual sparring. We’ll also look at Saudi Arabia’s plan to reshape sports by buying up global superstars and creating role models for future generations. And for those who love power and influence, I have a must-listen for you: Candace Owens’ latest series on Emmanuel Macron.

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:

[00:41] Let's talk about the most important conversations that happened over the last 7 days.

[01:02] Deepseek is a Chinese startup that developed an AI model.

[02:07] The stock market goes up and down. Is deepseek a big deal?

[03:03] If something is prohibited, greedy players always find a way to make a profit out of it.

[04:02] New models being introduced is expected. The deepseek model also has censorship.

[05:05] It might end up where every country or region will have their own AI model with biased suggestions based on their priorities.

[06:02] I talk about the main reason why aliens should exist. Naive humans can't be it.

[07:02] Tucker Carlson's and Piers Morgan's conversation in Riyadh. They pressed each other using sophisticated challenges. It was an amazing language battle.

[08:01] People should approach disagreements in this way.

[09:11] Another great conversation that Piers Morgan had was with a Saudi Prince. It was about how sports events shouldn't have anything to do with politics.

[10:56] The Saudis are trying to attract athletic role models for the future of their children.

[12:54] Back to conspiracy corners. I love Candice Owens. She can be controversial with some of her deep dives.

[13:48] Her next series about the history of Emmanuel Macron and his wife is super fascinating.

Show links:

• Join my free workshop focused on building a successful year here!
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• deepseek
• Tucker & Piers Morgan Debate Foreign Aid, Hate Speech, NATO, Gun Control, & Is Zelensky a Dictator?
• Saudi Sports Minister Prince Abdulaziz on Ronaldo, Salah, Trump & World Cup
• Becoming Brigitte: Gaslighting The Public | Ep 1

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I’m excited to share news about a new series from Darryl Cooper, host of the Martyr Made Podcast. His latest series is all about World War II, told from the perspective of ordinary Germans. It’s a fascinating look at how ideologies take hold and change societies. We’ll use that as a springboard to talk about how we receive and accept compliments, then dive into the software industrial complex and how it creates unnecessary dependencies. Finally we’ll look at how AI is going to simplify those systems and change industries. It’s a wild ride through history, human behavior and innovation.

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] Podcaster Darryl Cooper is back with a new series on World War II from the perspective of ordinary Germans.

[01:30] Darryl makes very well researched long-form podcasts on historical topics.

[02:50] It's important to understand the nuance and what happens when ideology and narrative can dominate a nation and drive certain behaviors.

[03:36] He never takes sides and does extensive research with thousands of sources.

[04:40] I like the idea of why this conversation is important.

[06:28] I share a new perspective on receiving compliments.

[08:20] How women sometimes try to minimize their compliments.

[09:01] How the software industrial complex has been creating unnecessary jobs within many industries and how AI is going to put these software specific rules out of business. This was a recent topic on the All-In Podcast.

[09:37] These big companies have created software that is very complex to operate and requires a specialist.

[10:57] The main users of these tools and software were people who graduated from MBA schools. People who could analyze and collate data were necessary.

[13:13] If something can be done with AI, we won't need these people with MBAs to compile all of the data.

[14:40] Tool providers have been trying to make their tools stickier and harder to replace.

[15:19] People with training and certifications in these complex tools would almost become like a free sales force for the product.

Show links:

• Join my free workshop focused on building a successful year 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.
• The Martyr Made Podcast - Darryl Cooper
• All-In Podcast

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If you’ve ever wondered how disruption leads to new beginnings, this episode is for you. I’m diving into the cycles of history, from tearing down the old to building the new and how understanding those patterns can give you hope. We’ll look at The Fourth Turning Theory, the evolution of institutions and why change is a superpower for growth. Along the way I’ll share personal stories, risk and resilience insights and even a bit of Greek mythology to tie it all together. Get ready to see the bigger picture and learn how to navigate the “winter” we’re in and prepare for the “spring” ahead.

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:

[01:48] History goes through cycles. Every cycle repeats in about 80 to 100 years. These cycles consist of four phases: spring, summer, fall, and winter. Currently, we are in winter.

[02:53] Things we can expect as this cycle continues. We can expect further dismantling and disruption of old institutions and old forms of control over territory.

[03:35] History doesn't like inefficiencies and friction.

[04:32] We can also expect changes in forms of money.

[05:14] I like the idea of being close to something new and a fresh start.

[07:00] Last week, I was optimistic after Mark Zuckerberg made a speech admitting that Facebook, Meta, and WhatsApp were censoring posts. These companies are now going to allow more free content.

[08:32] He probably senses this is going to be the new norm.

[09:59] I've been following Danielle Paige. She recently moved from Florida to Los Angeles, and her house burned down.

[10:38] She had just moved and invested in this new home.

[12:15] She's lost so much, but she still has a personal brand, followers, and tremendous resiliency. She has the resources to make a lot of money.

[14:17] When things happen, it feels like we've lost a lot but in reality our potential still isn't impacted.

[15:34] I was also listening to the PBD Podcast and a former CIA agent was the guest. He was talking about how we take less risks as individuals and more as a group.

[17:43] I share a conversation I had with my youngest about Greek mythology and resonating with our favorite characters.

Show links:

• Join my free workshop focused on building a successful year here!
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• The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny
• Danielle Paige

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If understanding history feels like an abstract puzzle, it’s time to see the patterns. In this episode I’m going into the concept of cycles and seasons, how history, businesses and our personal lives follow predictable patterns. We’ll cover the lessons from The Fourth Turning, generational values, and why knowing these cycles reduces anxiety and uncertainty. You’ll also hear about the current “winter” of society, what it means for businesses and individuals and how to prepare for the “spring” that’s coming. I also discuss the practical power of pattern recognition to get a clearer view of the world.

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:

[00:52] There have been so many events happening. Welcome to 2025!

[02:35] I started researching how all of these events are somehow connected. I'm going to do a series of podcasts about cycles or seasons or what we would call pattern recognition. History, human life, and business is cyclical.

[03:17] Understanding patterns and the phase that we are in removes anxiety.

[04:13] Luigi Mangione grew up in a wealthy family and was very successful in school. He suddenly disconnected from everything and then killed the insurance CEO.

[05:05] We learned that Luigi hated capitalism and felt like life wasn't fair.

[06:08] He was born into wealth and never needed money or went through difficulties. He never learned resiliency. He just jumped from a happy childhood into college where everyone is a victim. He skipped several necessary development phases that adults normally go through.

[07:34] According to Tony Robbins, to mature and become an adult people have to go through certain phases.

[09:12] Elon and Vivek are arguing that H1-B Visas are needed to attract talent and people with strong work ethics.

[10:59] People and the companies should have a right to choose where they work and who they hire.

[11:53] Humans and history go through cycles. For simplicity's sake, we'll call it spring, summer, fall, and winter.

[12:05] Spring is when everyone is optimistic and there's a lot of ideas. Summer is the testing time. Fall is where you reap the rewards and benefits. Winter is when there is crisis and conflict.

[14:36] Humans also have these cycles.

[15:25] Gen X is practical and financially motivated.

[16:43] Millennials are the generation of heroes and they are very value and community-oriented.

[17:26] Gen Z are the kids who are protected from the crisis. They are kind, caring, and nuanced.

[18:14] You can't expect generational values to change quickly.

[19:52] Elon and Vivek are very meritocracy-oriented and very much for results and achievements.

[20:08] Traditional European politicians defend different values. Institutions and social consensus are important. These values don't correlate with the cycle we are in.

[21:30] We are currently in the winter cycle. This is the time of ending so new things can grow up.

[23:10] Think about where you are in your life in terms of your season.

[24:11] Why do we need winter? Why do we need a crisis?

[25:03] Winter forces us to change because otherwise we wouldn't. We are almost at the end of this winter cycle and there are signs that spring is just around the corner.

[26:01] Pattern recognition and cycles can also be applied for businesses and for regulations and industries.

Show links:

• Join my free workshop focused on building a successful year 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.
• The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny
• "Why Luigi Mangione Snapped" - Tony Robbins EXPLAINS The Psychology Behind UnitedHealthcare Murder

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If compliance feels like a roadblock, it’s time to flip the script. I had a live webinar last week about how to turn compliance into a growth driver. We have covered how to measure success, align with business goals and prove compliance’s value as well as. smart resource management, big picture problems, and knowing when to take calculated risks. You will also get practical tips on prioritizing, tracking what matters and making the business case for compliance initiatives through ROI.

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:

[01:40] Framework to help you understand how this year measures up in terms of impact, accomplishments, and helping your business.

[04:17] Why some compliance professionals have a resistance to numbers and money.

[06:40] Management is often more interested in growth, sales, revenues, or something other than just checking off the boxes.

[08:23] We're going to have a conversation about how to assess the results of your compliance function, risk function, or governance function in a more objective way.

[11:10] What really defines your success is your ability to make the right decisions at the right time and communicate that to stakeholders.

[13:32] Explain why getting what you need to do your job will be beneficial for the company. Communication and diplomacy.

[16:07] When I talk about compliance I mean things like risk, governance, and regulatory time.

[18:01] 1. Make sure you're using your time correctly.

[19:23] Examples of how to ask for money and resources. Explain how these additional resources will benefit the company.

[24:30] 2. Stop managing compliance as a cost center and view it as a revenue center.

[26:13] 3. The way we value information has changed. Position yourself as someone who will share information and make recommendations.

[32:58] Make the best decision you can for the company today based on your experience. How not being in on the final decision can empower you and take away fear.

[40:01] Compliance performance. Being busy doesn't mean results. Objectively decide by starting at point zero.

[42:05] Results are created by solving bigger problems.

[44:14] Don't prepare for future projects too early and complicate current decisions.

[47:44] How we can take more risks and solve bigger problems.

[49:09] Understand why this year was good or bad, and it will help you discover where to focus best.

[52:06] We want compliance to contribute to business growth with quantifiable metrics. How to set priorities and ROI.

[55:26] A framework to help you decide where to focus. The huge impact of compliance decisions around checks and automation.

[57:59] Linchpin redundancy is a bottleneck, because everything needs to be approved by someone.

[59:06] Every compliance metric needs to be linked to more customers, money, saving costs, saving time, or bringing efficiencies.

[01:00:39] A quick formula to link performance to the company's goals.

[01:08:43] Reasons not to worry about reputational impact.

[01:11:57] If you're wondering how to take this framework to the next level. I have a training program and an online certification available.

Show links:

• Join my free workshop focused on building a successful year 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.
• Fix This Next: Make the Vital Change That Will Level Up Your Business

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This is the time of year for reflection, so in this episode, I share my theory on why achieving success for some people is so much easier than it is for others, why a high success-effort ratio isn’t always ideal, and some simple practices that you can incorporate into your life to start feeling more successful!

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:

[00:39] An overview of today’s topic.

[01:50] Two different roads that lead to success.

[02:12] The facet of my life with a high success-effort ratio.

[03:43] Understanding simulation theory.

[05:39] My theory about why success is so hard to achieve in some areas and so easy in others.

[07:06] Real-world examples of how life provides people with the challenges they need to grow.

[14:57] Two reasons why you may be feeling unsuccessful in certain areas of your life.

[15:40] Downsides of a high success-effort ratio.

[17:14] The importance of deeply exploring your pain points.

[18:44] The value of writing down your accomplishments.

[19:11] What I am proud of achieving in 2024.

[21:20] Valuable lessons you will learn in the free workshop I am holding on December 18th.

Show links:

• Join my free workshop focused on building a successful year 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.

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In this episode, I share my thoughts on regulation and deregulation in the crypto space and my predictions for how the different approaches adopted by Europe and America will impact people and businesses in these regions.

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:

[00:39] An overview of today’s topic.

[01:24] The alleged goals of Trump’s DOGE initiative.

[02:41] An important discovery I made while managing the downsizing of a business.

[04:03] Elon Musk’s comparison between government agencies and sports matches.

[05:25] How Javier Milei’s policies have benefited the Argentinian economy.

[08:09] The way Europeans measure success.

[09:22] How Europe’s approach to regulation is disadvantageous to the continent.

[10:38] Exploring what is going on with USDT.

[12:25] The justification that is used for crypto regulation in Europe.

[13:26] Consequences of the increased rules and regulations relating to crypto.

[14:15] My prediction for the future of regulation in Europe and the US and the impacts different approaches will have on businesses.

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.

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As 2024 starts drawing to a close, I want to unpack some of the key criteria I use to evaluate how successful my year has been. Tune in to hear my advice for overcoming some of the most common errors made by compliance professionals and the questions you should be asking yourself right now to ensure that you don’t fall into these traps again in 2025!

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:

[01:12] How and why my approach to evaluating each year of my life has changed.

[04:17] Some of the key questions that I recommend asking yourself at this time of the year.

[05:56] One of the biggest challenges faced by compliance professionals.

[08:13] My version of procrastination.

[09:21] Exploring what motivation is and how you can enhance it.

[10:18] What I am proud of having achieved in 2024.

[10:56] Why it’s important to evaluate how you deal with positive and negative surprises.

[13:32] A common approach adopted by compliance offers when something doesn’t go the way they planned.

[15:36] Why the aforementioned approach doesn’t work and what I recommend doing instead.

[16:30] Why I believe compliance is a revenue-generating function.

[19:39] An overview of the free workshop I am holding on the 18th of December that will help you convert your setbacks into successes!

Show links:

• Sign up for the Key Success Factors for FinTech Compliance - it’s FREE!

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Today’s episode is inspired by a book written by Amy Chua and Jed Rubenfeld. It’s called The Triple Package and while it’s received its fair share of criticism, I hope that after listening to my analysis, you’ll be able to appreciate the book’s theory as much as I do!

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:

[00:48] The conversation and book that inspired today’s episode.

[03:09] The key theory outlined in The Triple Package.

[03:54] What a superiority complex is.

[04:38] The unexpected benefits of being insecure.

[05:36] The correlation between impulse control and success.

[06:34] Criticism that The Triple Package has received and why I disagree with the critics.

[07:47] How The Triple Package theory can be applied to Russian immigrants.

[11:20] Characteristics to look out for when interviewing immigrants.

[14:58] The value of The Triple Package theory.

Show links:

• Interested in FinTech compliance? - consider investing in the FinTech Compliance Self-Starter Package!
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In a paper released a few days ago (October 2024) two senior officials from the ECB outlined why they believe Bitcoin is dangerous, creates inequality, and is a threat to democracy. In this episode, I outline why they are wrong.

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:

[00:50] A real-life horror story.

[02:30] Arguments made by two senior ECB officials about the dangers of Bitcoin in a research paper.

[05:58] The high levels of accessibility of Bitcoin.

[05:58] Some of the many benefits of Bitcoin.

[07:16] Why it is untrue that early Bitcoin adopters benefit unfairly.

[09:35] The causes of inequality.

[10:35] My theories for the motivation behind the release of the anti-Bitcoin paper.

[16:19] What to expect from the MICA workshop I am holding in November.

Show links:

• Join my MICA Licensing for Self-Starters Workshop 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.

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I’ve always believed in the importance of IP rights and patents, like many of you, but my recent discovery of Stephan Kinsella’s theory on this topic has led me to almost completely change my mind. Tune in today to hear about the history of IP rights and patents, why they are anti-capitalist, and how they actually inhibit rather than promote innovation.

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:

[00:38] Why today’s episode is a special one.

[01:45] My argument against registering trademarks as a startup.

[04:03] How my opinion on IP rights has changed.

[04:48] The history of copyrights and patents.

[05:55] A summary of Stephan Kinsella’s argument against IP rights.

[07:26] How IP laws infringe on the property rights of individuals.

[08:58] How patents can inhibit innovation.

[10:04] An example of how IP rights act in the interests of big corporations rather than consumers.

[13:12] The three potential sources of property rights.

[14:33] What Stephan believes ownership principles should be based on.

[15:22] Contractual provisions that I always include in my client agreements.

[17:33] The challenges of enforcing IP rights.

[18:43] Why I am such a fan of Stephan Kinsella’s work.

[19:30] Stephan’s response to the fear that people have about the threat of AI.

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.

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While I normally choose to keep my political views separate from my professional life, in this episode, I share why forming and defending your own political opinions is a very useful tool that can lead to the development of skills that will be invaluable to you as a financial-industry professional.

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:

[01:03] Why I usually keep my political views separate from my professional life.

[02:44] Damage that can be caused by bringing political will into the financial industry.

[04:00] My thoughts on Dima Kats’ decision to expose corruption.

[06:17] The value of having strong opinions.

[07:24] Real-world examples of how my strong opinions have benefited me.

[11:58] My first introduction to Donald Trump.

[13:22] What I thought when I found out he was running for president.

[14:15] How I feel about his time in office.

[15:56] My thoughts on why so many people are negatively triggered by him.

[18:30] Lessons that I think we can all learn from him, whether or not we agree with the things he says.

[19:31] Skills that can be developed through the formation of solid political opinions.

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.

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Unfortunately, many employers have held onto outdated beliefs about employment and entrepreneurship. In this episode, I share why I agree with Nassim Taleb’s belief that getting a monthly salary (i.e. full-time employment) as opposed to working as a consultant often does more harm than good!

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:

[00:41] An overview of the focus of today’s show.

[01:14] The dangers of drugs vs. a monthly check

[01:48] The stories that inspired me to record this episode.

[03:10] Issues that have become commonplace in big companies.

[04:51] Nassim Taleb’s thoughts on the harm caused by formal employment.

[07:23] Travis Kalanick’s biggest battle as Uber’s CEO.

[09:26] A personal experience highlighting how employers misinterpret full-time employment and entrepreneurship.

[16:18] Lessons that can be learned from the communist revolution.

[18:48] Share your thoughts!

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.

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I am obsessed with free speech and misinformation, so this episode about the attempted “canceling” of Darryl Cooper means a lot to me. Tune in today to hear about Darryl’s podcast episode that caused uproar amongst many of his listeners and my thoughts on the topic.

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:

[01:01] What Darryl Cooper’s podcast is about.

[02:29] The story that inspired today’s episode.

[06:16] Why I strongly disagree with the canceling of Darryl Cooper.

[07:30] How Darryl Cooper responded to the attempt to cancel him.

[08:14] What I learned about Israel and Palestine from Darryl Cooper.

[11:06] Positives that came from the Darryl Cooper controversy.

[12:21] Why cancel culture is so rife.

[14:21] The importance of not viewing complex events as ‘black and white.’

[15:37] The problem with trying to cancel certain opinions.

[17:08] Introduction to my upcoming brand new workshop.

Show links:

• Register for my new workshop, ‘Balancing DSA and GDPR Requirements,’ 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.

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“Having a goal and not reaching it is better than not having a goal at all.” We all know the feeling of disappointment when we set a goal that we are unable to achieve. When this happened to me earlier this year, I reread Viktor Frankl’s book, Man’s Search for Meaning, and in today’s episode, I share the invaluable lessons that it taught me about setting goals and not achieving 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:

[00:39] An overview of today’s topic.

[01:06] The goal that I set for myself for this year that I wasn’t able to achieve.

[02:10] What the book Man’s Search for Meaning, by Viktor Frankl, is about.

[04:35] Criticisms that the book received.

[07:10] The power of having a purpose.

[10:04] Why Frankl believes that people always have freedom, regardless of their circumstances.

[13:04] Don’t put your goals on a pedestal!

[13:56] A new perspective on setting goals.

[18:38] How to deal with things not going to plan.

[20:28] The value of joining the FinTech Startup Certification Program.

Show links:

• Join our FinTech Startup Certification Program 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.

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Today, we’re discussing the concept of nationality and its role in financial services. An experience of Ukrainian clients’ of mine was the inspiration for this episode, and I hope it gives you a good understanding of some of the key global financial trends and the unequal impacts they are having on people and countries across the world.

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:

[00:39] Introducing today’s topic.

[01:00] The clients of mine who inspired today’s episode.

[02:40] What it means to be a ‘citizen of the world.’

[03:18] Why I renounced my Russian citizenship.

[05:22] Discriminatory trends that have become commonplace against poor countries.

[06:18] My personal experience of discriminatory financial policies.

[07:10] The unequal impacts of global economic trends.

[10:40] My prediction about the trajectory of these inequalities.

[12:37] Why the concept of censorship is becoming a hot topic.

[14:20] How governments are likely to respond to the growth of remote work.

[16:03] Examples of the different versions of nationalism.

[18:03] The problem with nationalism from a financial perspective.

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.

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Welcome back to a new season of the Compliance That Makes Sense podcast! We’re still going to be focusing on FinTech, compliance and startups, but the upcoming episodes are also going to be related to current affairs. In this first episode, I dive into my Russian background and how it impacts the way I view the world, particularly in relation to the Pavel Durov controversy and the oversight of digital media companies in general. Also, don’t forget to sign up for this year’s final cohort of the FinTech Startup Compliance Pro Certification.

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:

[00:34] The new direction I will be taking with this new season of Compliance That Makes Sense!

[01:20] Some of the Russian controversies that have impacted the compliance world.

[02:57] Exploring my relationship with my Russian roots.

[05:04] The factors that encouraged me to leave Russia.

[08:41] My thoughts about the Russia-Ukraine war.

[10:42] A brief history of Pavel Durov’s professional life.

[15:44] My analysis of Pavel Durov’s actions.

[19:05] Where I see parallels between today’s media and Soviet propaganda.

[24:10] Pros and cons of the Digital Services Act.

[25:15] How I think digital platforms can (and should) counter the oversight requirements in the Digital Services Act.

[24:14] How my Russian past influences the way I view the world.

[29:54] Benefits of joining my FinTech Startup Compliance Pro Certification.

Show links:

• Get certified as a FinTech Startup Compliance Pro with my Certification!
• 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.

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In the latest episode in my ‘From Risk to Rescue' series, I discuss what MICA is, some of its benefits, and why I think the cons outweigh the pros.

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:

[00:47] An overview of today’s focal topic.

[00:57] The most commonly-cited MICA benefits.

[02:09] What MICA is.

[02:56] Why I am not a fan of the Travel Rule.

[03:47] My concern with the way lawmakers value crypto.

[04:58] Some of the MICA requirements for stablecoin issuers that I disagree with.

[07:34] The story of Luna’s stablecoin collapse.

[08:40] The biggest issues with the current financial system.

[10:47] The main purpose of MICA.

[11:12] Negative outcomes that MICA is likely to cause.

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.

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Today, we’re continuing our conversation about how to transition from “risk to rescue” by delving into the reasons why fiat services may be riskier than crypto, despite long-held beliefs that the opposite is true. If you’re a compliance professional who is feeling deeply dissatisfied with the scope of your work at the moment, you’re not alone, and this episode will shed some light on why that is the case!

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:

[00:38] An overview of today’s topic: Why fiat services may be riskier than crypto?

[01:52] Why owners of fiat accounts are a hugely underestimated risk.

[02:14] Where the value of fiat currencies is derived from.

[02:46] Problems with the fiat system.

[05:28] How we should be thinking about our savings versus our investments.

[06:38] The biggest risk of the fiat system.

[07:16] How financial institutions and government regulations manipulate compliance professionals.

[07:56] Examples of new regulations and requirements that took effect in recent decades.

[10:03] What these new regulations have failed to achieve.

[12:33] Why do so many compliance experts feel deeply dissatisfied with the scope of their work?

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.

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In the first episode of the “From Risk to Rescue” series, I explore how many existing regulatory laws and requirements de facto discriminate against smaller businesses and people with less money, deepening financial inequality, and why it is so important that we eliminate outdated risk and compliance norms.

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:

[00:39] Welcome to the first episode of the “From Risk to Rescue” series.

[01:07] Why I agree with Elon Musk’s proposal to have a Regulation Removal department in every state.

[04:09] How regulations discriminate against poorer people and smaller businesses.

[05:29] Outdated assumptions about smaller businesses and poorer people that do more harm than good.

[10:15] My experience working with businesses in Africa, the Middle East, and South East Asia.

[12:05] Understanding Nassim Taleb’s theory of “fat tails.”

[13:45] How “the network effect” works.

[14:02] How the failure of a major organization impacts smaller businesses.

[16:09] Exploring Jeffrey Sacks’ theory of economic and financial apartheid.

[20:02] Why it’s important to understand the history of risk and compliance norms.

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.

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Reddit and YouTube star, Roaring Kitty, is being accused (again) of market manipulation by the mainstream media because of his role in the 2021 GameStop saga. In this episode, I explain why I strongly disagree with these claims. This is a topic I am very passionate about and I look forward to hearing your thoughts.

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 the topics I will cover in today’s episode.

[01:44] What Reddit and YouTube star, Roaring Kitty, has been accused of (again).

[03:13] Why I disagree with the general sentiment towards Roaring Kitty.

[06:02] The cause of the increased value of GameStop shares in January 2021.

[08:15] The timebomb created during the period after GameStop and how Robinhood responded.

[11:38] Understanding market manipulation (and why I don’t think this is what Roaring Kitty did).

[17:40] Why I agree with how Robinhood reacted in 2021.

[19:12] Unpacking Gary Gensler’s opinion on Roaring Kitty and GameStop.

[21:19] Why I am so passionate about this topic.

[24:52] Please share your thoughts!

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.

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BaaS options are becoming more limited and their requirements are becoming stricter. In this episode, I explain why the current market conditions are challenging for early-stage startups partnering with BaaS providers. I also share the names of some of the providers that I know to be reliable, the difference between BaaS, open banking, and FinTech-friendly banking, and the factors to consider before choosing a BaaS provider!

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:

[00:39] The focus of today’s episode.

[00:58] Why current market conditions are problematic for BaaS providers and their partners.

[01:37] An overview of what has been going on in the BaaS world since 2020.

[03:28] Flaws in the design of Europe’s Baas industry.

[04:50] Why licensing services and technology services should not be mixed.

[06:34] How BaaS works and the services that BaaS providers offer their customers. [08:19] The most reliable BaaS providers to the best of my knowledge as of today.

[09:13] How open banking differs from BaaS.

[10:55] Understanding what a FinTech-friendly banking partner is.

[11:39] Advice for choosing the right BaaS provider for your startup.

Show links:

• Join my Crash Course on White Label Solutions in FinTech 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.

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In this episode, I share some key takeaways relating to economic and FinTech trends and patterns in Europe that I have gathered from several different reports as well as through my own observations. From the payment default crisis to the state of BAS and the rise of BNLP, A2A, and digital wallets, tune in today to hear it all!

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:

[00:38] Documents I have been reviewing which form the basis of this episode.

[01:31] The problem of inflation.

[02:23] An overview of the current state of the European economy.

[03:19] The BNPL (buy now, pay later) landscape.

[04:35] How the payment crisis is affecting businesses.

[05:52] The derisking process that banks are going through.

[07:48] Understanding the digital wallet trend.

[09:38] The pros and cons of account-to-account payments.

[12:03] Why the current market conditions are unfavorable for BAS (banking as a service) providers.

[14:42] New fraud patterns that have emerged in recent years.

[15:36] Why it’s worth keeping an eye on the increased drive for instant payments.

[17:43] The need for additional technological innovations.

[19:15] The rate of predicted growth of payment companies.

[20:00] What you will get out of the workshop I am holding on June 4th!

Show links:

• Join my masterclass on Setting Compliance Priorities in FinTech 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.

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Multitasking is not something to be celebrated! In this episode, I explore the many reasons why we should all be moving away from dealing with multitple competing priorities at once. To help you with this, I also share an overview of the hierarchy of business needs created by Mike Michalowtiz that will help you set your priorities straight!

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:

[00:41] False beliefs that many people have about multitasking.

[01:55] Why multitasking is often a sign of dysfunction.

[03:50] The harm caused by multitasking on a personal and organizational level.

[04:34] Why multitasking is so common in the FinTech world.

[05:44] What FinTech professionals can learn from firefighters.

[07:23] How multitasking affects your brain and your productivity levels.

[09:09] Fix This Next; the book that opened my eyes to the importance of establishing a ‘hierarchy of needs.’

[11:53] The purpose of compliance.

[12:26] An overview of the five levels of Mike Michalowitz's prioritization hierarchy.

[20:02] Details about the brand new masterclass (Setting Compliance Priorities in FinTech) I am holding on June 4th.

Show links:

• Join my masterclass on Setting Compliance Priorities in FinTech 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.

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It’s easy to assume that the way things are being done is the right way to do things, but a change in perspective can open our eyes to the benefits of doing things differently. In this episode, I discuss how to establish KPIs as a compliance professional when there are a lot of unknowns in play. I hope you walk away from this episode with a new perspective on the metrics you can and cannot control!

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:

[00:38] An overview of today’s episode.

[01:24] A personal experience that has taught me to always question the status quo.

[06:58] Why aiming to acquire a license by a specific date is a problematic KPI in the FinTech compliance space.

[08:16] Why I believe compliance professionals should be responsible for reconciling input from different departments.

[09:59] Examples of KPIs that should be used in relation to compliance auditing.

[11:45] Important compliance KPIs related to bringing in new business.

[13:47] KPIs that compliance professionals should consider in relation to customer support.

[16:06] What characterizes a good KPI.

Show links:

• Access my Compliance Resource Management Workship 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.

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In your career, as in all facets of your life, there are always going to be circumstances that are out of your control! In the next few episodes, I am going to be exploring how you can differentiate between the things you can control and those you cannot and how to identify and avoid the traps that lead to unnecessary project delays and unintended results.

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:

[00:39] An overview of the upcoming series of episodes I will be releasing.

[02:50] The focal topic of today’s episode.

[03:33] How to predict whether your compliance team is going to avoid their responsibilities.

[03:57] Why competing priorities are not a valid excuse for falling behind on projects.

[06:29] The common problem with waterfall project planning processes.

[09:30] Examples of KPIs that compliance teams can and cannot control.

[12:17] Why the HR role needs to be redesigned.

[17:21] The importance of properly diagnosing a problem before trying to solve it.

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.

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In this episode, I take you on a journey through my thoughts on what is going on with the SEC and Uniswap, what I learned about the future of instant messaging from Tucker Carlson’s interview with Pavel Durov, why I decided to digitally “clone” myself, and more!

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:

[01:23] The three topics that will be covered in this episode.

[02:24] Exploring what is going on with the SEC and Uniswap.

[07:03] What to expect from the SEC in the coming years.

[08:12] How people often react when they are under pressure to achieve a particular outcome.

[10:45] The size of Pavel Durov’s company, Telegram.

[12:20] Innovation that is taking place in the instant messaging space.

[14:04] How buying decisions are likely to be made in the future.

[17:58] Why and how I digitally “cloned” myself.

[19:22] How you can interact with Yana AI.

[20:33] The benefits of creating an AI version of yourself.

Show links:

• Check out Yana AI: https://www.delphi.ai/yana
• Listen to Tucker Carlson’s interview with Pavel Durov: https://tuckercarlson.com/the-tucker-carlson-interview-pavel-durov/
• 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.

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With my Certification program launch happening in two days, I decided to record an episode with my very good friend, David Yen, about some of the things that have been on my mind recently. The diverse range of subjects we discuss includes relationships, friendships, risk-taking, decision-making, the education system, and authenticity!

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:

[01:50] David shares an overview of himself and his life’s mission.

[03:11] How I am feeling about the imminent launch of my certification program.

[03:52] My experience of using Hinge.

[04:46] Characteristics that I appreciate in a partner.

[09:04] Exploring the art of decision-making.

[13:52] The value that David and I bring to our friendship.

[19:22] Some of the controversial views that I hold.

[23:04] Why I feel disillusioned about the education system.

[27:13] What David’s upbringing was like.

[27:56] Skills that children should be taught at school.

[29:26] Fears that people have around sharing their opinions.

[31:41] The power of being your most authentic self!

Show links:

• Full Certification program details below: https://yana-afanasieva.mykajabi.com/certification And if you need a template for the reimbursement letter request asking your company to sponsor this training, download it here and send it to your boss.
• 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.

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Competent, well-meaning, hardworking people often make unrealistic assumptions that can completely derail their projects. In this episode, I explore some of the mistakes that my clients have made recently to highlight the importance of questioning your assumptions and surrounding yourself with trusted advisors.

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:

[00:38] An overview of today’s episode.

[01:11] Why people often choose to work with numerous different consultants on one project.

[03:27] Why assigning people and deadlines to every single project line can be problematic.

[10:05] An example of how a client of mine planned to deal with a technical incident.

[13:30] The approach that I recommended to address the issue in a much more efficient way.

[15:03] When the biggest business mistakes are often made.

[16:00] Understanding equivalence according to NLP theory.

[17:15] Understanding causality according to NLP theory.

[18:00] The importance of questioning your assumptions.

[20:39] The value you will get out of my certification program.

Show links:

• Full Certification program details below: https://yana-afanasieva.mykajabi.com/certification And if you need a template for the reimbursement letter request asking your company to sponsor this training, download it here and send it to your boss.
• 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.

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For various reasons, compliance professionals often struggle to confront their senior management about work-related issues that they are experiencing. In this episode, I explain what the the NLP (Neurolinguistic Programming) methodology is and how it can be used to overcome this problematic tendency!

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:

[00:41] The inspiration behind today’s episode.

[02:38] Why compliance professionals often choose not to confront senior management when experiencing issues.

[04:03] A real-world example of the problems that can arise when compliance professionals avoid confrontation.

[06:33] Communication issues being experienced at Binance.

[08:44] An overview of the NLP methodology.

[10:09] Where you can learn how to use the NLP methodology.

[10:55] Examples of the NLP methodology in action.

[11:50] The value of using the NLP methodology in compliance.

[12:42] Sign up for assistance on your compliance journey using the links below!

[13:25] What it takes to be a compliance professional.

Show links:

• Full Certification program details below: https://yana-afanasieva.mykajabi.com/certification And if you need a template for the reimbursement letter request asking your company to sponsor this training, download it here and send it to your boss.
• 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.

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The world we live in is characterized by unpredictability. Responding to unpredictable situations with “we have to do something” is a trap that can have very negative outcomes so in this episode, I share how you can better prepare for the future without wasting your time and money!

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:

[00:37] An overview of today’s topic; preparing for the future.

[01:45] The unpredictability of our world.

[03:03] Jeff Bezos’ philosophy for long-term planning.

[04:30] A common approach to dealing with projects that aren’t meeting one's expectations.

[06:33] Characteristics of compliance officers that will remain relevant in the long term.

[07:23] Comparing situations where doing more is appropriate and where it is a very bad idea.

[09:14] Why “we have to do something” has become such a common refrain.

[11:36] The realization about big companies that many start-up founders have had in recent years.

[13:00] The unpredictable actions of financial regulators.

[14:30] Examples of the irrational decisions that are being made across the world.

[17:21] What to do when you are under pressure to take action.

[20:05] The benefits of joining the Compliance Collective.

Show links:

• Learn to be valued as a FinTech compliance expert - sign up for the Compliance Collective 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.

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In today’s special episode, I am joined by my life coach, Lisa Carpenter, to discuss crypto, women, technology, risks, and life!

Lisa works with women who have high career ambitions and who also want to maintain their health and well-being. I’ve been seeing her for a few years, finding the experience enormously valuable in helping me through life’s ups and downs. From understanding the risks of investing in crypto to regulation in the AI space to the fears that hold us back and lots more, this enlightening conversation will give you a comprehensive overview of some of today’s hottest topics!

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:

[02:42] An introduction to today’s special guest, life coach Lisa Carpenter.

[05:38] How women’s relationship with money needs to evolve.

[07:29] A brief history of Bitcoin.

[14:33] Different types of cryptocurrencies.

[17:58] A new way of thinking about the potential risks of investing in crypto.

[23:14] Some of the many benefits of investing in crypto.

[27:03] How to store your crypto.

[29:08] Understanding regulation and compliance in relation to crypto.

[34:19] A risk of investing in crypto and how to mitigate it.

[35:37] The importance of diversification in your crypto investment strategy.

[36:45] Exploring ‘just in time’ versus ‘just in case’ compliance.

[43:00] An overview of the various facets of my job.

[44:00] Fundamental principles for all compliance professionals.

[46:40] What social norms are and why I think they are often counterproductive.

[51:19] My perspective on regulating AI.

[55:30] The broad-ranging applications of AI technology.

[57:36] Why you shouldn’t avoid risk and uncertainty.

[59:30] The value of consulting, life coaching, and personal development.

Show links:

• Listen to Lisa’s Sustainably Strong Private Podcast here.
• Listen to Lisa’s Protect Your Energy Private Podcast here.
• Connect with Lisa via Instagram.
• 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.

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Crypto staking has been in the spotlight recently, and as a result, it is undergoing a transformation. In this episode, we are going to cover what staking is, how it works, why regulators are concerned about it, and the key elements you need to keep in mind if you are going to offer it. I also explore Kraken as a case study of how staking can go wrong.

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 what I will cover in today’s episode.

[01:28] Why crypto staking has been receiving a lot of attention recently.

[02:22] Available guidelines related to crypto staking.

[03:35] The definition of crypto staking.

[04:11] Blockchains that offer staking.

[04:57] How staking works and what the benefits are.

[06:43] The lock-up period that staking requires.

[07:53] How staking-as-a-service works and why regulators have imposed parameters on it.

[10:39] Regulators’ main concerns regarding staking.

[13:30] Where to access my free detailed guide to launching compliant crypto staking.

[14:37] How staking can go wrong: the Kraken case study.

[20:41] FINMA’s approach to staking.

Show links:

• Access Your Free Guide to Launching Compliant Crypto Staking 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.

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Welcome back to the Compliance That Makes Sense podcast! In the coming episodes, we’re going to be delving into topics related to the technological developments that are changing our world.

Are you a techno-skeptic or part of the effective accelerationism movement? In this episode, I explore the beliefs held by these opposing camps and share my thoughts about technological development, capitalism versus socialism, and why too much regulation is a bad thing for the compliance profession.

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:

[00:33] Welcome back!

[01:27] The new direction for this podcast.

[02:23] One of the hottest current debates in the FinTech world.

[04:21] An overview of the beliefs of the effective accelerationism (e/acc) movement. Marc Andreessen Manifesto. https://a16z.com/the-techno-optimist-manifesto/

[05:10] What techno-skeptics advocate for.

[05:58] Sam Altman and Elon Musk’s sentiments regarding technology regulation.

[07:06] Why so many compliance professionals side with techno-skeptics.

[08:43] Who Guillaume Verdon is and what he has done for the world. Interview on Lex Fridman podcast: https://www.youtube.com/watch?v=8fEEbKJoNbU

[10:30] Why I believe that more regulations will negatively impact the compliance profession.

[13:33] Common fears relating to technological development and why I do not have these fears.

[15:50] The mass demoralization campaign that I believe we are in the midst of.

[16:21] A snapshot of what it was like to grow up in the USSR.

[17:22] What I have learned from working on projects in developing countries.

[18:20] What I hope the future holds for the compliance profession.

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.

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Do you thrive during emergencies, or do you prefer leading your team through phases of growth? In our last episode of 2023, I explore Ben Horowitz’s concept of wartime and peacetime CEOs, and I share how I discovered my own leadership style.

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:

[00:39] Why I am currently obsessed with Ben Horowitz.

[01:53] Hard decisions that I made in 2023.

[03:36] An overview of the “peacetime versus wartime CEO” concept.

[03:51] Key characteristics of a wartime CEO.

[05:10] Key characteristics of a peacetime CEO.

[07:01] Problems that can arise when a CEO employs wartime policies in a non-emergency situation.

[08:38] Examples of what can go wrong when a CEO is unwilling to admit that the company is going through a turbulent time.

[09:50] The leadership style that I tend towards.

[11:13] Happy holidays!

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.

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CZ, the CEO of Binance, stepped down in November 2023 in the wake of a number of money laundering charges and procedural misdemeanors. In this episode, I share what the future holds for Binance and how the company’s decay is going to impact the crypto industry as a whole.

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:

[01:13] Topics we are going to cover during this episode.

[01:26] Why the Binance CEO stepped down in November 2023.

[02:16] What the future holds for Binance and CZ.

[04:34] Similarities between the way Binance and FTX.

[06:14] What I admire about Binance.

[07:04] Changes that are expected to take place within Binance.

[08:13] How the decay of Binance is likely to impact the crypto industry.

[09:39] What cryptocurrencies offer that traditional finance does not.

[10:20] The era that is ending with the fall of Binance.

[12:05] How CZ helped advance the crypto space.

[13:19] Happy holidays!

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.

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If you think that your role as a compliance officer is to provide accurate and extensive information to your company leaders and you’re confused about why you aren’t being promoted and why your boss doesn’t seem to take you seriously, listen to this episode to understand why you need to change the way you think!

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] An overview of today’s topic.

[01:03] What most people have wrong about compliance.

[02:30] Why there is such a high turnover rate of FinTech compliance leaders.

[05:02] Why FinTech CEOs often take advice from external sources rather than internal experts.

[06:05] How to ensure that your opinion, as a compliance leader, is well-received in your company.

[07:03] Common challenges that arise in relationships between FinTech CEOs and their compliance leaders.

[09:44] Benefits of using a cost/benefit analysis to evaluate compliance proposals.

[11:02] The three main principles that a cost/benefit analysis should be guided by.

[12:50] Where you can access my workshop on compliance performance.

Show links:

• To learn how to create your 2024 compliance plan and get it funded, 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.

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For various reasons which I share in today’s episode, many FinTech companies are now establishing their global headquarters in the UAE. Tune in today to hear how the UAE has become the new Switzerland when it comes to the FinTech space!

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:

[00:38] An overview of the current trend towards the UAE in the FinTech space.

[01:55] Updates that I have made to the FinTech Compliance Self-Starter Package.

[02:44] How Switzerland’s approach to FinTech has changed over the last few decades.

[03:21] Examples that highlight Switzerland’s increasing transparency.

[05:40] Factors that make the UAE appealing to FinTech companies.

[07:51] The UAE’s approach to categorizing risk in comparison to the approach adopted by the EU.

[08:55] Potential problems with operating out of the UAE.

[10:25] Advice for anyone considering opening a company in the UAE.

[11:05] A call to share your own stories about conducting business in the UAE.

Show links:

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

• Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click here.

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“Hire slow, fire fast” has become a common adage in the working world. In today’s episode, I am going to explain why this approach does not work well in the world of FinTech compliance and what FinTech leaders should be doing to find the right fit for their companies 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:

[00:42] An overview of today’s topic.

[01:42] Problems with using a “hire slow” approach in the FinTech compliance sector.

[03:32] Common mistakes that FinTech leaders make when hiring compliance professionals.

[04:29] Skills to look for in a potential compliance hire.

[05:30] The immature approach to firing a compliance leader.

[06:51] Why FinTech managers often delay letting their compliance leaders go.

[07:31] The difference between how good and bad managers deal with the firing of a compliance leader.

[09:32] A summary of the reasons I disagree with the “hire slow, fire fast” adage.

Show links:

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

• Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click here.

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The Financial Action Task Force (FATF) is an international body founded with the aim of enhancing global financial security and improving industry standards. However, in this episode, I share why I believe many of the actions that the FATF has taken are negatively impacting the FinTech space.

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:

[00:37] An overview of today’s episode.

[01:04] The mission of the Financial Action Task Force (FATF).

[01:43] How the FATF works.

[02:01] Problems with the FATF.

[02:51] How the FATF has impacted de-risking within the banking system.

[04:55] Why I disagree with the way the FATF guidelines segment industries.

[06:29] An explanation of how the FATF travel rule works.

[08:22] Consequences of the FATF’s warnings about decentralized finance.

[09:55] Examples of the biases held by the FATF.

[14:28] Inconsistencies in the way the FATF assigns risk to different countries.

[15:50] Other elements of the FATF that I believe are problematic.

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.

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A common expectation of first-time MLROs and heads of compliance is that their CEO will be their boss. In this episode, I debunk this myth so you, as a new MLRO or head of compliance, can enter your new role with your eyes wide open to what your relationship with your CEO is really going to look like!

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:

[00:38] Who I created this episode for.

[01:06] One of the biggest mistakes made by first-time heads of compliance.

[03:02] A hard truth about the majority of FinTech CEOs.

[04:16] Why CEOs don’t want to deal with compliance issues.

[06:50] The kind of relationship that most FinTech CEOs want to cultivate with their heads of compliance.

[08:28] The strategy I recommend adopting when discussing compliance-related topics with your CEO.

[10:52] Pros and cons of working as the head of compliance in a startup environment.

[11:33] How to treat your CEO from your position as head of compliance.

[12:06] Updates from the FinTech Pro Compliance Certification Program.

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.

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In this episode, I explore some common conspiracy theories that I have come across in the world of business and finance. I personally find this topic a fascinating one, and I hope you enjoy listening to this episode as much as I enjoyed recording it.

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] Why conspiracy theories are the focus of today’s episode.

[02:38] An overview of Peter Thiel and Elon Musk’s ideological beliefs.

[04:00] A conspiracy theory relating to CBDCs.

[07:05] How CBDCs compare to Russian sanctions.

[07:43] Exploring the Great Reset conspiracy theory.

[09:52] Conspiracy theories relating to ESG.

[11:39] Questions I have regarding conspiracy theories.

[12:19] The value that I find in conspiracy theories.

[13:11] A compliance dilemma that is linked to conspiracy theories.

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.

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Inspired by Andrew Ross Sorkin’s insights on the topic, in this episode, I explore the differences between the financial crises of 2008 and 2023 and share my thoughts on which one was the most egregious.

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:

[00:38] An overview of today’s topic: comparing the 2008 and 2023 crises.

[00:56] The person who inspired this episode.

[01:38] Causes of the subprime mortgage crisis of 2008.

[02:58] How the more recent financial crisis differs from the previous one, according to Andrew Ross Sorkin.

[04:20] The Credit Suisse case study.

[06:17] How banks often explain away their inefficiencies and failures.

[07:06] What a conflict of interest is and an example of this concept in action.

[10:12] Reasons why I believe the 2023 crisis is worse than the 2008 crisis.

[11:58] Why compliance and risk functions are often excluded from important decisions.

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.

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“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.

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 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.

• 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.

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In this episode, I explore the key elements of the MICA regulation that was approved in the spring of 2023, its problematic elements, and the implications it will have in the FinTech space.

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:

[00:53] An overview of the key topic of today’s episode.

[01:41] The difference between a regulation (like MICA) and a directive.

[03:08] Why MICA is such a significant regulation.

[04:35] The two broad token categories.

[06:43] Elements of the MICA regulation that I believe are problematic.

[12:30] What triggered the creation of the MICA regulation.

[13:10] Some of the positive aspects of MICA.

[14:32] My thoughts on the future of DAOs.

[16:01] An overview of the “good” versus the “bad” sides of MICA.

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.

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Bill Gurley’s inspirational speech at the All-In Summit motivated me to record an episode focusing on the worldwide issue of regulatory capture. Tune in today to learn more about what regulatory capture is, the numerous industries that have been accused of facilitating it, and what it could mean for the future of financial services and Big Tech.

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:

[00:38] The inspiration behind today’s episode.

[01:55] Who Bill Gurley is.

[02:50] Understanding regulatory capture.

[03:35] Examples of how regulatory capture can occur.

[05:50] Why the pharmaceutical industry has been accused of regulatory capture.

[06:36] Other industries that have been accused of regulatory capture.

[07:29] Signs of regulatory capture in the financial industry.

[08:29] Bill’s prediction about future relations between Big Tech and the government.

[09:53] Why I disagree with Bill’s assessment of Coinbase.

[10:50] The importance of having open discussions about regulatory capture.

Show links:

• Watch Bill Gurley’s speech 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.

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In this episode, I share some of the invaluable lessons that I learned from listening to a speech by Tobias Lütke, the founder and CEO of Shopify, at the inspirational All-In Summit. From eliminating unnecessary meetings to his thoughts on why founders make the best CEOs for their companies, tune in today to hear it all!

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] A brief overview of the All-In Summit.

[01:17] The person who inspired this episode.

[01:50] Why Tobias (Tobi) Lütke believes that founders should run their companies rather than hiring professional CEOs.

[03:15] Tobi’s approach to enhancing productivity at Shopify.

[05:25] Why Tobi doesn’t refer to his team as a family.

[07:42] The reason Shopify has such a high number of payment service providers.

[09:26] What I admire about Tobi.

[10:07] Where you can watch Tobi’s full speech.

Show links:

• Watch Tobi Lutke’s speech here: https://www.youtube.com/watch?v=2c4VnzTepK0

• 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.

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A few weeks ago, two major events took place in the FinTech world; Worldcoin was launched and Curve was hacked. The fact that these events happened so close to one another has raised many important questions about the future of centralized versus decentralized structures. Tune in today to hear details about one of the largest hacks in DeFi history, the ambitious goals that Worldcoin is hoping to achieve, and my thoughts on both!

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:

[00:38] Questions that have been raised due to the Worldcoin launch and the Curve hack.

[01:19] An overview of the ambitious Worldcoin project.

[03:46] Why Worldcoin is so controversial.

[06:13] The number of people who had signed up for Worldcoin at the time of its launch.

[06:45] One of the main goals of the Worldcoin project.

[07:06] Exchanges that have listed Worldcoin.

[07:29] My thoughts on the success potential of Worldcoin.

[08:51] How Curve was hacked.

[09:45] What Curve is and what makes it unique.

[11:00] How the crypto community has responded to the Curve hack.

[12:11] The impact of the Curve hack.

[14:05] What the Curve hack has taught us about decentralization.

Show links:

• Sign up here to earn your FinTech StartUp Compliance Pro certification!
• 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.

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Discomfort is the key to growth! Too many professional education courses don’t give people the skills to truly accelerate their careers. In this episode, I discuss the reasons why and provide an overview of the strucutre of my FinTech Compliance Professional Certification Program so that you have a better understanding of how it will skyrocket your gowth in the compliance space.

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] An overview of the topic of today’s episode.

[01:30] Red flags for continuous education courses.

[02:31] Why many continuous education courses don’t result in improved skills in the workplace.

[06:10] Why I regularly revisit my course content.

[07:00] The importance of having the opportunity to get out of your comfort zone during a continuous education course.

[08:24] Common reactions to undertaking novel tasks.

[09:56] Characteristics that make a great teacher.

[10:47] The key to professional growth.

[11:44] What to expect from the first workshop in the FinTech Startup Compliance Professional Certification Program.

[13:39] An overview of the second workshop in the course.

[14:23] Skills that the third workshop will equip you with.

[15:15] What you will learn in the fourth workshop.

[16:28] The task that you will do in the fifth workshop and how it will benefit you in your career.

Show links:

• Sign up here to earn your FinTech StartUp Compliance Pro certification!
• 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.

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If you’ve been listening to this show for a while, you’ll know that I don’t approve of traditional compliance education. So, I decided to create my very own FinTech compliance certification program, and I am very excited to announce that it is going to be launching on September 1st! The program will equip you with all the knowledge and skills you need to become a competent and confident compliance expert. Tune in today to hear more details and where to sign up!

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:

[00:55] The very exciting program that will be launching on September first!

[01:57] The main reasons that FinTech founders don’t choose optimal business solutions.

[02:15] Common mistakes made by FinTech founders.

[04:17] My motivation for creating my own FinTech compliance certification program.

[04:36] How the new program differs from the trainings and workshops I have held in the past.

[05:34] What you can expect from the program.

[06:13] Why my program will benefit you more than traditional compliance education programs that already exist.

[06:28] Problems with traditional compliance education.

[10:04] An overview of my approach to compliance education.

Show links:

• Sign up here to earn your FinTech StartUp Compliance Pro certification!
• 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.

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Unfortunately, Apple’s policies around cryptocurrencies, in-app purchases, and NFTs have negative implications for many FinTechs. Tune in today to hear an overview of those policies, examples of the issues that companies have run into as a result, and common mistakes that founders make when trying to defend themselves.

Although I can’t do anything to change Apple’s approach, I can equip you with the knowledge you need to satisfy their requirements so that you can get your Apps approved. So, don’t miss out on the workshop I am running on the second of August that will focus on this topic!

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] Why today’s topic is important.

[01:18] The conflict between Coinbase and Apple that occurred in 2022.

[03:09] Exploring the case of Uniswap versus Apple.

[04:54] Why Demus recently faced expulsion from the App Store.

[06:14] Trouble that Zoss ran into with Apple.

[08:52] The purpose of the workshop I am running in August.

[10:31] Apple’s requirements in relation to cryptocurrencies, in-app purchases, and NFTs.

[14:14] Arguments that you shouldn’t use to defend yourself against Apple’s policies.

[18:08] The importance of understanding Apple’s expectations around in-app purchases.

[19:09] A word of advice with regard to proving legal opinions to Apple.

[19:50] What you can expect to learn in my upcoming workshop!

Show links:

• Join my workshop on 02/08/2023 at 1pm CET: Complying with Appstore Guidelines For Crypto Services.

• 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.

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If you are considering creating a decentralized autonomous organization (DAO), listen to this episode first! In it, I debunk some common misconceptions about decentralized autonomous organizations (DAOs) by sharing some of the most common use cases, governance models, and my honest opinion on whether or not it's worth it to create one!

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:

[00:38] An overview of the focus of today’s episode (and why this topic is particularly relevant right now).

[02:11] Providing a governance structure: a common use case for a decentralized autonomous organization (DAO).

[02:56] Examples of some of the most successful DAOs.

[04:12] How DAOs can be used for crowdfunding and pooled investments.

[05:09] DAO hackings that have taken place in recent years.

[06:10] The role that DAOs can play in terms of decision-making around decentralized apps.

[07:23] How DAOs can enhance community engagement and activism.

[08:42] Exploring some of the most common issues with DAOs.

[13:38] Reasons that founders give for creating a DAO.

[16:23] The most popular governance models used by DAOs.

[18:04] My honest opinion on creating a DAO.

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.

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“Your business will grow to the level of problems you are willing to handle,” so if you want your business to thrive, start getting comfortable with solving bigger and more complex problems!

Tune into this third and final segment of the Rise of the Business-Like CCO for a deep dive into the five stages of business (and what each stage means for compliance) and to have all your questions about hiring (from my rule of thumb to avoid the trap of overhiring to why you should think carefully before hiring part-time interns) answered!

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:

[01:56] An overview of what you can expect to learn from this episode.

[03:26] How to ensure that your compliance organization is improving.

[05:29] A common fear experienced by compliance officers (and why this fear is problematic).

[07:50] A new perspective on dealing with problems as a compliance officer.

[09:04] Why Coinbase was recently sued by the SEC and how they have managed the situation.

[12:53] Basic business principles that all companies should uphold.

[14:41] Understanding the problem of conditional performance.

[16:56] Why I recommend the “be, do, have” approach to problem-solving.

[19:15] Comparing the operations side of compliance to the project management side of compliance.

[21:48] Advice on the types of roles you should and shouldn’t be hiring for if you are the founder of a small startup.

[25:28] My rule of thumb to avoid the trap of overhiring.

[26:45] Common hiring mistakes made by startup founders.

[28:27] Requirements that need to be fulfilled by an authorized compliance officer.

[30:15] Why I am weary of hiring part-time compliance interns in the FinTech space.

[32:52] When to hire your first compliance employee.

[34:44] The importance of understanding the five stages of business (in relation to compliance).

[35:26] The Age of Innocence: characteristics of stage one.

[36:07] Throw money at the problem once: characteristics of stage two.

[39:16] The Stone Age: characteristics of stage three.

[40:52] Firefighting: characteristics of stage four.

[45:48] Factors that determine how well new hires fare in a startup.

[47:35] Leverage: characteristics of stage five.

[49:51] Final words of wisdom and encouragement for compliance officers.

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.

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Welcome to Part 2 of the Rise of the Business-Like CCO, a free video training from June 2023. This video training is broken up into three different sessions and today’s podcast episode is the replay of Day 2.

Now that we know the common and major mistakes from Part 1 of this series, it’s time to jump into the metrics and strategies of the business-like CCO. In our discussion today, we consider where to focus our time and energy and which metrics we should be looking at in specific scenarios. What you will find is contrary to what we’ve believed for a long time - effort doesn’t always mean results.

Today's episode:

[02:01] When you ask for something, you would be much more successful if you link your request to a monetary accomplishment.

[04:45] Compliance professionals tend to link their results to how hard they work.

[07:08] It is easy to get in the mindset of fear as a compliance professional.

[09:04] Calibrate your efforts to the task, not the ideal scenario.

[10:10] What tasks are not relevant?

[11:29] Working hard does not always lead to results.

[12:18] What tasks are the ones to put the most focus on?

[14:25] Management values different things.

[16:04] There are a lot of metrics, but some are more important than others.

[19:07] Is it a compliance problem or someone else’s problem?

[23:19] Sometimes you have to step out of your comfort zone to solve problems.

[26:15] You must consider how your company measures success.

[29:16] Try to learn from your colleagues and find where you can make a difference.

[32:47] Listen to the metrics to look at in specific scenarios.

[36:31] We always want more tools, but sometimes more tools mean more wasted time.

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.

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This episode is a unique experience as it is a replay of a free video training where we discussed the rise of the business-like CCO. This video training is broken up into three different sessions and today’s podcast episode is the replay of Day 1.

Before we jump into the metrics and strategies of the business-like CCO, we need to talk about the biggest mistakes compliance professionals make in their career. In order to learn something new and become better, it’s so important to begin with this introduction.

So listen on to learn what these common and major mistakes are, what you can do to shift your mindset to avoid these mistakes, and how we can begin to improve compliance performance.

Today's episode:

[02:02] Oftentimes, people want to take the advice but are unable to.

[04:45] One reason compliance professionals are not able to achieve their goals is because they have inadequate beliefs and a very specific perception.

[06:10] We need to start with misconceptions and mistakes to become more aware.

[08:58] Compliance professionals tend to have a lot of limiting beliefs.

[10:50] Big mistake #1: Sacrificing time for clarity.

[12:22] You may hesitate to make a decision until someone else does first.

[15:07] Big mistake #2: How do we ask for money as compliance professionals and what is our relationship with money?

[16:47] Your mentality makes a huge difference.

[19:23] Compliance should position itself and the organization to recognize it as the revenue driver.

[22:08] Big mistake #3: Value of information.

[24:28] The value of information is declining.

[26:45] If you recommend something, you should be a part of implementation.

[27:29] What you believe about compliance will determine what is possible for you within your organization.

[31:37] What is the minimum risk and the maximum risk you can take?

[33:08] Live participants of the session ask questions on the topic.

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.

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Today’s episode is inspired by the recent SEC conflicts with Binance and Coinbase. After taking a few days to think things over, I have some conclusions to share.

Listen to learn what compliance problems are, what is happening with the SEC, and the things to consider when compliance problems arise. Sometimes, there’s more to it than meets the eye.

If you want to learn more about compliance function and how to make it more productive and efficient, join the free training on June 19th! Join by signing up for The Rise of the Business-Like CCO here.

Let’s talk about it.

Today's episode:

[01:24] What does it mean to have compliance problems?

[02:35] Many people interpret compliance problems as a personal issue.

[03:53] Fear makes things more difficult and more complicated.

[06:21] Learn SEC’s interpretation of the recent conflicts.

[07:55] The decisions made are a good example of taking risks when there is a good chance of success.

[10:26] The SEC went after the two biggest exchanges.

[11:38] Binance is different from Coinbase in a few ways in this situation.

[14:28] It appears that customer funds are not currently at risk.

[15:54] How will Binance be negatively affected by this?

[18:04] It’s understandable where Binance is coming from, but it’s uncertain if they will be successful.

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.

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FinTechs have multiple options for revenue generation, and in this episode, I am going to discuss some of the most common and easily understood revenue sources as well as some of the more complicated ones that tend to lead to pushback from regulators!

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] An overview of today’s topic: The different business models that FinTechs use to make money.

[02:11] Examples of the types of fees that FinTechs charge.

[04:31] How FinTechs can make money from proprietary trading.

[04:57] Some of the FinTechs that offer subscriptions to generate revenue.

[08:00] How FinTechs can make money through advertising revenue and affiliate commissions (and the criticism that this approach often receives).

[11:49] The controversial practice of charging inactivity fees.

[12:45] How FinTechs can make money through investing customer balances and why this is a risky route to take.

[14:11] My thoughts on why advertising revenue and commissions are problematic ways of making money for FinTechs.

[17:03] Do you know of any other sources of revenue for FinTechs?

[17:33] The benefits of investing in my FinTech Compliance Self-Starter Package!

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.

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Consumer protection, especially in recent years and especially in Europe and the western world, has become counterproductive.

Some regulators believe that we don’t need more FInTech startups because we already have enough of them and because more startups may fail and hurt consumers.

I disagree. We need more startups because many financial services are still inefficient and many problems are not solved, which means we need more innovation and more disruption. Let’s talk about it.

Today's episode:

[01:23] Many regulators have slowed down the approval of new applications.

[02:56] The current situation in the financial sector is far from ideal.

[04:37] The investment process is very difficult right now.

[06:09] It is clear that we need more innovation.

[07:50] Consumer protection is so important.

[10:24] It’s hard, but try to find a retirement service provider that is innovative and aggressive.

[12:01] What should be the role of the government on consumer protection?

[13:29] What is your opinion on the balance between consumer protection and regulations and personal choices?

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.

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The tendency to micromanage compliance is rife in the FinTech world. In this episode, I discuss the various reasons why this is the case and offer some advice on how to deal with a micromanager!

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:

[00:41] An overview of today’s topic.

[00:58] Examples of what micromanagement of compliance typically looks like.

[04:16] One of the main reasons that so many founders micromanage their compliance teams.

[05:02] Why micromanagement is problematic.

[05:10] Additional reasons for the prevalence of micromanagement of compliance teams by FinTech founders.

[08:05] Advice for how to overcome micromanagement tendencies (or deal with a micromanager).

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.

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When it comes to crypto regulations, uncertainties are rife. In this episode, I share my thoughts on what the future of crypto regulations is likely to look like based on what I have noticed about the way regulators usually deal with new technologies.

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:

[00:38] An overview of today’s topic.

[00:57] Uncertainties that are rife in the crypto space.

[01:56] How regulators approach innovative technologies: phase one.

[02:43] Triggers that can result in sweeping bans on certain technologies.

[04:14] What causes regulators to develop very targeted regulations for technologies.

[05:35] How ideological biases can negatively impact technological advancements.

[08:08] Factors that are likely to determine cryptocurrency regulations in the future.

[08:20] The United States' prior attempts to enforce their financial regulations outside of their domestic market (and what this could mean for crypto regulations).

[09:32] Why regulators can no longer plead ignorance about cryptocurrencies.

[10:54] Upgrades I have made to the Self-Starter package!

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.

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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.

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I recently read The Beginning of Infinity, a book which had a profound impact on how I see the world. In today’s episode I apply some of the concepts from that book to my field of expertise. If you’re looking for a way to efficiently scale your startup while remaining compliant, you’ve come to the right place; get ready to say goodbye to risk-aversion and expand your knowledge horizon!

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:

[00:49] The focus of this episode.

[01:14] Some lessons that I learned about compliance while working at Amazon and PayPal.

[02:49] Why big FinTech companies must be accepting of risks and deal with compliance in a targeted way.

[04:16] What made me want to leave my job at PayPal.

[06:10] My experience as PayPal’s compliance point of contact for some of their internal projects.

[09:16] The motivation behind my decision to start my own business.

[10:56] The approach you need to adopt if you are going to keep growing while remaining compliant.

[13:22] Three key components which will help you achieve compliant growth.

[15:32] Why FinTech founders struggle so much with pragmatic risk acceptance.

[16:28] The Beginning of Infinity; how this book changed my life and why everyone should read it.

[18:05] Two concepts from The Beginning of Infinity, and how they relate to compliance and risk.

[20:41] How to prepare for future risks in order to efficiently build scalable compliance within your FinTech startup.

[23:48] What I am going to be discussing in next week’s episode.

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.

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To get your app onto Google and Apple App Stores, you will need to go through a review process. In this episode, I explain how to respond to some of the most common compliance questions that Apple and Google reviewers may ask you in relation to your app.

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:

[00:41] An overview of today’s topic.

[01:00] One of the most common causes of confusion that arises when submitting an app for review.

[02:10] Advice for how to explain your white-label partnership functionalities.

[04:11] Why your reviewer might struggle to understand your partnership agreement and how you can make it easier for them.

[06:18] What to say to a reviewer if you don’t have licenses for every country.

[10:50] How to approach questions relating the geographic scope of your services.

[13:27] An overview of the FinTech Licensing Workshop for Self-Starters!

Show links:

• Join the FinTech Licensing for Self-Starters workshop on the 25th of April.

• 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.

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ChatGPT has had a big impact on many industries worldwide because of its ability to accelerate and simplify processes. Although some people are worried about the job losses that applications like ChatGPT are likely to cause, I am excited about the future of the compliance sector with this kind of technology available. Tune in today 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:

[00:39] The huge impact that ChatGPT is having on many industries worldwide.

[01:20] Reasons why ChatGPT has taken the world by storm.

[01:54] Examples of the compliance-related jobs that are likely to be taken over by ChatGPT or other AI applications in the near future.

[03:04] Why many people are fearful about the impact of ChatGPT.

[03:19] Why I disagree with the negative opinions that many people have towards ChatGPT and similar AI technologies.

[04:18] Activities that are likely to remain in the hands of human beings for the foreseeable future.

[05:23] The three essential pillars of compliance.

[05:55] Problems that are likely to arise if the three essential pillars are not in place.

[07:26] The human actions that will be the most difficult to replace with AI technology.

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.

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In the world of compliance, there are two main regulatory approaches: how to do things regulations and how to report things regulations. Depending on the regulation type, the compliance and implementation strategy can be dramatically different. In this episode, we explore how smart fintech companies can leverage a specific regulatory approach to grow and optimize their businesses while minimizing the burden of compliance. We'll also dive deeper into the benefits of the how to do things regulatory approach and how it can help companies optimize their processes and services.

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:

[00:32] Discussion of the two main regulatory approaches: how to do things regulations and how to report things regulations.

[01:49] The types of regulations that provide clarity and a level playing field for companies.

[3:26] The differences between regulations on how to do things and how to report things and how companies in the compliance industry view them.

[04:19] How regulations aimed at detecting and curbing unwanted behavior can be overly burdensome for companies and individuals.

[05:41] Contrasting compliance regulations that offer little value to companies already doing the right thing with regulations that can help a business optimize its processes for growth.

[07:20] Tips for determining whether a regulation is helpful and minimizing compliance efforts.

[08:35] An invitation to share your experiences and thoughts on the two types of regulatory approaches discussed.

Show links:

• Connect with me on LinkedIn here.
• Learn how to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective
• 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.

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If you’ve realized that a completely rational, pragmatic approach doesn’t always work for you in business, you’ll be very happy to know there is another way. In this episode, I share some of my favorite “spiritual” tools that can help you learn to lean more on your intuition, increase your motivation, and feel more confident in your decisions!

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:

[00:38] An overview of today’s topic.

[00:58] What inspired me to record this episode.

[01:57] How I define spirituality in the business context.

[02:26] Examples of circumstances where I lean on my spiritual side.

[03:48] How guided hypnosis audios can positively influence your business journey.

[06:05] The value in working with a coach or a mentor.

[08:08] The benefits of journaling.

[08:44] What I love about short-term courses (and I’ve done many!)

[10:34] Tools that you can use to increase your levels of motivation.

[14:29] The fine line between motivation and willpower.

Show links:

• Connect with me on LinkedIn here.
• Learn how to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective
• 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.

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If you’ve been asked to attend an interview with a regulator, don’t panic! In this episode, I share my advice on how to approach these interviews and the types of questions to expect.

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:

[00:38] An overview of today’s topic: preparing for interviews with regulators.

[01:06] The motivation behind this episode.

[01:40] Potential reasons that a regulator will request an interview.

[03:12] Types of questions that you should expect from an interview with a regulator.

[04:25] Advice for how to approach interviews with regulators if you working in a foreign country.

[05:49] Important documentation to take with you to a interview with a regulator.

[06:56] Experiences that are irrelevant to your interview with a regulator.

[07:27] What to do if your history contains some unsavory elements.

[09:22] How to decide who to appoint as the board members for your company.

Show links:

• Use this free resource to find, pay, and negotiate with board members: https://competitivecompliance.lpages.co/director-services-agreement-template/
• Learn how to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective
• 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.

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Starting a business with a friend sounds like a good idea in theory, but in reality, it’s often a different (much more challenging) story. Tune in today to hear about the common issues people face when they choose to go into business with their friends.

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] An overview of today’s topic: the co-founders’ dilemma.

[00:53] Why joining forces with friends to start a company isn’t always a good idea.

[03:10] An example of when combining friendship and business has worked well.

[04:14] How situations often play out when one co-founder isn’t fully competent.

[06:27] How friends who are co-founders affect workplace dynamics.

[08:06] The problem of not signing a shareholder agreement (a common mistake made by friends who become co-founders).

[09:50] The key takeaway from this episode!

[10:31] Advice for people who work for co-founders who are also friends.

[11:18] An overview of the FinTech Compliance Collective program.

Show links:

• Take part in our workshops and coaching sessions to level up your FinTech compliance expertise: https://yana-afanasieva.mykajabi.com/offers/gs4Mzgdy/checkout

• 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.

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After speaking to many people who have lost their jobs due to FinTech company failures, I was motivated to create the Compliance Collective to help people in that position understand their value and get back on their feet. Tune in today to hear the reasons behind the job losses in the crypto space and how my program can benefit 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:

[00:39] The main topic of today’s episode.

[01:07] The general sentiment of the people who I recently interviewed who lost their jobs because of company failures.

[07:11] Why so many people missed the signs that their businesses were heading for trouble.

[08:26] The current state of the crypto markets.

[08:38] My motivation for creating the Compliance Collective.

[09:58] Examples of what is covered in the Compliance Collective.

[12:15] The main goal of the Compliance Collective.

[13:46] Who the Compliance Collective is and isn’t aimed at.

Show links:

• Learn how to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective

• 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.

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In this episode, I share my analysis of why US regulators have recently gone on a crusade of enforcement in the crypto space, using Kraken, Paxos, and Binance as the prime examples to highlight the issues that are being experienced by FinTech organizations currently.

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] An overview of today’s topic.

[01:07] A common mistake made by struggling compliance professionals and the program I created to change this.

[04:37] Exploring the concept of staking.

[06:52] What the Kraken staking program consisted of.

[07:23] The issue that US regulators had with Kraken’s marketing approach and a safer approach that could have kept them out of trouble.

[08:40] Kraken’s second mistake: mixing their own staking pool with their customers’ staking pool.

[11:34] A summary of the factors that made Kraken vulnerable.

[12:50] Why the SEC forced Paxos and Binance to stop issuing Binance USD Stablecoins.

[17:33] Examples of what the term “stablecoin” refers to.

[18:12] Changes that stablecoin issuers and users can expect in the coming months.

Show links:

• Learn to be valued as a FinTech compliance expert! Join our next call: https://yana-afanasieva.mykajabi.com/collective

• 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.

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Have you used ChatGPT? I was interested to know what it would give me back regarding CBDCs and why they’re unlikely to be implemented on a large scale. Tune in today to hear the assessment I received from ChatGPT regarding the problems facing CBDCs versus my own! Which do you like better?

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:

[00:39] I used ChatGPT to ask about CBDCs and this is what AI gave me back.

[02:33] A quick structure to follow for this episode.

[03:07] Here’s what ChatGPT had to say about CBDCs.

[05:13] ChatGPT’s concerns about implementation of CBDCs.

[07:00] My analysis and concerns regarding CBDCs and their use.

[08:55] The first of three main obstacles facing CBDCs.

[11:05] CBDCs will not solve the financial inclusion problem.

[12:18] There are substantial reservations about CBDCs from established banks.

[13:53] Have you used ChatGPT? How do you feel about the difference in our conclusion regarding CBDCs?

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.

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In this episode, I explore some advantages and disadvantages of establishing a startup in the FinTech hubs of Luxembourg, Lichtenstein, Ireland, and Lithuania. A perfect environment does not exist, but this episode should give you clarity around which country will be best suited to you and your company.

WORKSHOP ANNOUNCEMENT:

On February 21st, 2023, Yana is offering a brand new, one of its kind, 90-minute workshop on the end-to-end scope of crypto compliance.

Following the recent SEC actions against Kraken Digital Asset Exchange, #busd, #stablecoins and #staking, we have added another section about stablecoins and staking into our agenda to ensure your company can navigate the regulatory uncertainties.

Most of my clients have received and continue receiving additional questions from their banking partners, regulators, auditors, card processors, and other partners, which can be summarized as follows:

• Were you in any way impacted by the FTX collapse and the following series of crypto bankruptcies and litigations?
• How can you prove to us that your company is better than FTX &Co and did not deploy any of the malpractices, abuses, and opportunistic regulatory arbitrage that seemed to be so common?

The easiest way to answer these questions would be to share with all these stakeholders that your entity has implemented many of the common compliance best practices that go beyond AML.

https://yana-afanasieva.mykajabi.com/offers/o6cY5poK

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:

[00:54] An overview of the new workshop I am hosting on February 21st!

[02:12] The benefits of establishing a FinTech in Ireland.

[03:08] Some of the barriers to setting up a FinTech in Ireland.

[04:31] What to expect from the FinTech license application process in Ireland.

[05:26] Understanding the regulatory environment in Lichtenstein.

[07:15] Factors that make Lichtenstein special from a compliance point of view.

[08:47] Stringent requirements upheld by regulators in Lithuania.

[09:51] Expectations that the Bank of Lithuania has of FinTech companies that are established in the country.

[10:26] Recent Lithuanian VASP regime updates.

[12:00] Some of the advantages of establishing a FinTech in Luxembourg.

[13:34] Aspects of the FinTech industry that are emphasized in Luxembourg.

[14:29] Why the licensing process takes longer than it used to.

Show links:

• Sign up for the ‘End-to-End Complete Scope of Crypto Compliance’ Workshop 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.

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Many times projects are delayed due to an excessive amount of initial research and an unwillingness to take action. I’ve found that this is most often due to FinTech managers bringing on teams that do not have a same or similar business model to them. Tune in today to hear my advice on how you can use the Queen’s Gambit style of chess as a FinTech strategy!

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:

[00:39] How I relate to Queen’s Gambit, the Netflix show, and what it has to do with compliance strategy.

[02:01] Many FinTech projects tend to drag on forever due to overly extensive research at the beginning.

[04:17] One recent client experience I had, that speaks to this research issue.

[06:34] The reason most people procrastinate is because the tasks are overwhelming.

[09:08] The Queen’s Gambit strategy is a different mental game with all the heavy lifting happening first.

[11:18] Why many project managers that come from large companies end up being inefficient at startups.

[13:58] Tech founders are more likely to measure success based on user numbers versus number of employees.

[14:50] Before I take on any new project, I always ask myself “Can I scale this?”.

[15:28] When you hire a service provider as a FinTech startup, make sure that their business model matches yours.

[16:32] I’m going to be holding a workshop dedicated to end-to-end operational compliance for a vast company. Sign up!

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.

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While there is no region that won’t present at least some challenges to FinTech leaders, there are several factors that are likely to predict the success or failure of a business. Tune in today to hear my advice on finding a home for your business!

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 commonly-asked question that inspired today’s episode.

[01:26] Benefits of operating a FinTech in a country with an existing FinTech business ecosystem.

[01:50] Why there is no such thing as a perfect country to operate a FinTech.

[02:43] Factors that are good predictors of FinTech success in a particular region.

[05:40] Red flags to look out for when considering where to establish your FinTech.

[08:38] How to handle inevitable changes in the industry.

[10:01] Some noteworthy regulatory trends that I have become aware of.

[12:11] Examples of countries that are experiencing increased levels of regulatory friction.

[14:02] Please reach out if you want to know more!

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.

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Around this time last year, I was feeling pessimistic about the state of the world (just like the people at Davos). However, I now believe there are many reasons to be optimistic about our future, and in today’s episode, I share 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:

[00:38] The purpose of today’s episode.

[01:53] Some of the key topics that were covered at Davos.

[03:56] Why I feel optimistic about the world.

[04:16] The power of out-of-the-box thinking.

[05:14] Benefits of the enhanced levels of clarity in the business sphere.

[06:24] Positive outcomes of the rise in collaboration between independent thinkers.

[07:59] How our social and business circles have changed for the better in recent years.

[09:04] The new wave of asset tokenization that is currently underway.

[09:44] How are you feeling about the world right 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.
• Read about fragmentation, The Art of War, inflation and recession in Europe, meaningless sanctions, and opportunities in emerging economies

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The New York State Department of Financial Services recently fined Coinbase, and since then, there have been harsh (and in my opinion, false) accusations made against the company. In this episode, I share my thoughts on why Coinbase ended up in this position and what they could have done to avoid it!

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 most popular explanations given for the fine that Coinbase received.

[01:21] The settlement order that Coinbase was issued by the New York State Department of Financial Services.

[03:08] My thoughts on the root cause of the issues that led Coinbase to be fined.

[04:34] The four areas where Coinbase reportedly had deficiencies.

[08:42] The outcome of the Coinbase audit conducted in 2020 and why they agreed to pay the fine.

[10:59] Examples from the settlement order that highlight why the harsh accusations made against Coinbase are inaccurate.

[13:46] The finding in the settlement order that was most surprising to me.

[19:39] Why Coinbase ended up with a backlog of “suspicious alerts” and how they could have avoided this.

[27:17] Mistakes that Coinbase made with regard to due diligence for high risk accounts.

[31:51] An overview of my thoughts on what went wrong at Coinbase.

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.

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Oftentimes, when FinTech startups receive funding, they spend a lot of it on hiring new employees. During this episode, I explain the numerous negative consequences of growing your team before your company is ready for it.

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] What many FinTech startups do when they receive funding.

[01:13] The numerous problems that are associated with hiring people in a hurry.

[04:21] A common occurrence that takes place when experienced people join a less mature team.

[05:43] What often happens when people aren’t 100% occupied at work.

[06:10] Complaints that are likely to arise when startups hire people before they need them.

[07:02] A commonly-held false belief about growth.

[08:11] Why needing an expert is not a good reason to hire someone.

[09:19] The three factors that lead to the growth of FinTech startups.

[10:52] The correlation between knowledge and risk-taking.

[11:15] What is required of FinTech founders when they are trying to grow with a big team.

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.

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Most FinTech startups believe that the reason for their many unfinished projects is that they have too many ideas and too little time and resources to get them all done. However, I think this is a huge misconception, and in today’s episode, I explain 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:

[00:50] The belief held by most startups about why they have so many unfinished projects.

[01:49] Why I believe so many FinTech startups run out of money.

[02:12] The problem with believing that a lack of resources is why projects are abandoned.

[03:28] The root causes of many problems in FinTech startups.

[04:09] Issues with the way many startups approach hiring new talent.

[08:07] An analogy that highlights the dangers of abandoned projects.

[09:38] Analyzing Elon Musk’s first steps as Twitter CEO.

[11:07] What to do if your company is struggling with a multitude of abandoned projects.

[12:37] The three key components that enable progress and growth in FinTech startups.

[12:47] Pros and cons of hiring new 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.

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There is no better time than right now to look deeply at how to design and test projects, make faster decisions, reduce team conflicts, and keep costs low. So, today we will be taking some lessons from the strategy that Elon Musk has utilized as the new Twitter CEO.

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:

[00:49] Why this episode is a special one.

[01:52] Elon Musk’s main goals for Twitter.

[03:29] A Tweet that Musk posted during his first week at the company.

[04:16] Why Musk decided to increase the number of verified users on Twitter and the implications of this decision.

[06:15] The approach Musk took to enhance user engagement at Twitter.

[08:19] How the external world responded to the changes Musk made at Twitter.

[09:04] Why I believe Musk’s actions have saved the company a lot of money.

[12:47] Predictions that were made about Musk’sTwitter that have not materialized.

[14:48] The benefits of making quick decisions.

[15:34] An overview of the lessons from Musk’s actions at Twitter that can be applied to any FinTech startup.

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.

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In the last episode, I discussed the just-in-time method and how that is more effective than reactive firefighting, and I am now following up on that, talking about how I discovered the just-in-time method. As some of you may know, my earliest FinTech work was with Amazon and PayPal, and I share the lessons that I learned from projects on which I was the compliance point of contact.

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:

[01:04] I talk today about how I discovered the just-in-time method while working for PayPal and Amazon.

[01:32] The biggest lesson I took away from Amazon and PayPal.

[03:20] Asking customers lots of questions doesn’t work with big companies.

[04:41] Representing compliance at a FinTech means people will be biased against you.

[06:18] I was working at PayPal in 2014.

[07:16] I don’t really believe in failures.

[09:52] How I needed a sense of accomplishment and making progress at the job I had at the time.

[12:12] The European Banking Authority issued guidelines which PayPal forgot to address.

[14:18] How I defined my job.

[15:12] I was invited to join a few other projects.

[18:13] Summary of what I learned and accomplished.

[19:03] My approach was the only thing that changed.

[20:42] The second lesson that I learned.

[23:18] I finish up with my golden rule.

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.

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I wanted, for the first episode of 2023, to talk about why FinTech companies should be testing their decisions before testing their products. I walk you through the biggest mistake that startup FinTech companies make and why building a project from the bottom up generally does not work, and I explain the difference between reactive firefighting and just-in-time compliance and why the latter is more effective. In summary, instead of testing a product that is nearly ready, you need to first test the decision to launch the product first.

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:

[00:42] I hope that we have a beautiful 2023 ahead of us.

[01:50] Explanation of this episode’s title.

[03:06] The biggest mistake regarding using unnecessary resources.

[06:05] FinTech CEOs often view new projects as exhaustive checklists.

[08:33] An example of why startups building a project bottom-up doesn’t work.

[11:41] Why projects can get stuck.

[14:07] The difference between reactive firefighting and just-in-time compliance.

[15:13] Just-in-time is more efficient than reactive.

[17:26] Problem with relying on an authority figure.

[19:56] What FinTech teams really want given time and money constraints.

[22:21] Please be sure to listen to the next episode!

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.

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For the last episode of the year, I wanted to reflect on what has been a challenging year (to say the least) but one filled with valuable lessons. I hope that you are able to make peace with everything that has happened in 2022 and enter 2023 feeling refreshed and renewed!

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:

[00:56] What I hope 2022 consisted of for you.

[01:38] The importance of getting closure on this year before making plans for the next one.

[02:53] Progress that I made in 2022.

[04:10] Examples of the professional issues I dealt with this year, and what they taught me.

[07:20] What I learned about linear planning and resource allocation in 2022.

[08:01] Spiritual approaches that I experimented with this year.

[10:19] The importance of staying true to your values and maintaining independence of thought.

[12:43] Some big moments and favorite resources from 2022.

[14:29] My hope for all of you for 2023.

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.

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The purpose of a business is to serve customers and make money. So, doing something at the expense of the overall company’s success because it is the “right” thing to do from a compliance standpoint is, in my opinion, a broken strategy. Tune in today to hear my thoughts on why compliance teams need to be humble!

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:

[01:04] The conversation that inspired today’s episode.

[02:22] Why I don’t believe that letting go of people in compliance departments will always negatively affect a company.

[03:44] Examples of basic compliance principles.

[06:16] My definiton of humility.

[06:51] The importance of remembering what the overall purpose of a business is.

[07:49] A traffic metaphor to explain why compliance teams need to be humble.

[08:52] An example from my own life that highlights the value of humility.

[10:55] The factors that I believe are responsible for most successes in business.

[11:14] The attitude that is counterproductive to success.

[11:42] What it means to be humble.

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.

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In the aftermath of the crash of FTX, many crypto exchanges have announced their readiness to publish their proof of reserves data with the aim of reassuring customers about the safety of their funds. Tune in today to hear my thoughts on this as well as the changes that I expect to see as a result of the FTX crash, the future of VASPs, and more!

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] The announcement that had been made by many crypto exchanges since the FTX crash and why I think it is only a minor enhancement.

[02:21] Why it is important for a VASP to have a certain amount of their own funds.

[03:57] One of the issues that led to the downfall of FTX.

[04:19] The benefits of issuing your own tokens.

[05:01] Factors that cause most of the problems in the cryptocurrency space.

[05:17] Why publishing the proof of reserves doesn’t address the issues in the cryptocurrency space.

[06:48] The changes that I expect to see as a result of the FTX crash.

[08:42] Countries that hold a strong anti-cryptocurrency position (and the main reasons why).

[09:38] My thoughts on CBDC projects in their current iteration.

[11:18] What the future holds for existing VASPs.

[12:28] Valuable resources for anyone interested in applying for a VASP license.

Show links:

• To join my live workshop: FinTech Licensing versus White Label Solutions: Pros and Cons.
• 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.

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Professional education and certification programs promise to teach us valuable skills for the FinTech industry, but they aren’t teaching us the things that matter! Tune in today to hear why these programs do more harm than good and what I recommend doing instead.

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 lie that professional education and certification programs tell us.

[01:16] Examples of how this lie negatively impacts people.

[05:58] Why people choose to enter professional education programs.

[06:18] Why professional education programs will not benefit your FinTech career.

[07:31] How professional education programs take advantage of people.

[09:08] Reasons that professional education programs don’t help with networking.

[10:08] The difference between formal education programs and Mastermind groups.

[11:26] The factor that helps me decide which Mastermind to join.

[11:54] Why confidence is the key to achieving your goals.

[13:13] Advice for overcoming your fears and training your “confidence muscles.”

Show links:

• Join the Impact Mentorship Program!
• 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.

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Is your team suffering from Boomers’ Syndrome? If the answer is yes, you are not alone! Tune in today to hear why the traditional approach to compliance is so problematic in today’s world and what you can do to help your team move away from it.

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 focus of today’s episode: the problem with Boomers’ Syndrome and what to do about it.

[01:33] Questions to ask yourself to determine whether your compliance team is suffering from Boomers’ Syndrome.

[03:38] Why even young, smart people contract Boomers’ Syndrome.

[04:01] Institutional environments that Boomers’ have grown up in.

[05:18] What many compliance officers think their job is.

[05:56] An overview of what the traditional compliance approach looks like in practice.

[07:45] A brief explanation of the agile approach.

[08:20] Why the agile approach makes most compliance offers feel uncomfortable.

[09:07] The tensions between compliance teams and other teams within many FinTech organizations.

[09:47] The problem with compliance education.

[11:35] What to do if your team is suffering from Boomers’ Syndrome.

Show links:

• Sign up for the Impact Mentorship program 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.

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Sign up for the Impact Mentorship program here!

In today’s episode I share a personal story that highlights why you don’t need a plan to be successful! Until 2020, I always measured my success by how closely I could stick to a plan. But I have come to realize how limiting that is, and through my Impact Mentorship program, I want to help you break away from any false beliefs you may hold about planning and take your FinTech business to the next level.

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:

[00:52] The big change that my business went through in the summer of 2020.

[03:34] Advice that I was given by the people around me during the pandemic, and why I couldn’t take this advice.

[04:25] What the rest of 2020 looked like for me.

[06:06] The biggest lesson that I learned from the challenges of 2020.

[07:17] Why 2021 was one of my very best years.

[08:24] What to expect from my new Impact Mentorship program.

[08:54] Examples of the problems that I will help you resolve in the Impact Mentorship program.

[11:04] Activities that won’t convert into business success.

[12:21] What the “boomer syndrome” is and why you need to break away from it.

[16:02] Sign up for the Impact Mentorship program to take

Show links:

• Sign up for the Impact Mentorship program 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.

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Driven by what I have been hearing from FinTech founders about their experiences with compliance, in today’s episode, I talk about the core three elements of the just-in-time compliance framework, and why sometimes doing nothing is the best compliance strategy of all!

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:

[00:46] The conversation that inspired this episode.

[01:07] Complaints about compliance that I often hear from FinTech founders.

[02:30] Pressure that is commonly experienced by founders.

[04:48] The three pillars of the just-in-time compliance framework.

[05:36] Why FinTech founders need to pay attention to all three elements of the framework.

[07:40] The hardest part of the framework to implement (which is also the hardest part to teach).

[08:22] Some of the most common decisions that FinTech founders need to make that require some risk-taking.

[11:17] Why doing nothing makes people feel uncomfortable, even when it’s the right thing to do.

[11:57] Examples of when the best compliance approach is to do nothing.

[16:51] A major reason for the friction that occurs between compliance teams and founders.

[17:40] What you can expect to learn in upcoming episodes.

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.

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The majority of compliance trainings, certification curriculums, and seminars focus on understanding, interpreting, and implementing rules and regulations. In today’s episode, I explain why I disagree with this tactic and what I recommend doing instead!

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:

[00:53] The inspiration behind today’s topic.

[01:24] What the majority of compliance trainings and seminars focus on.

[02:24] Why focusing on learning rules and regulations can hinder your success.

[05:14] The benefit of looking to people who know less than you.

[05:55] Discrepancies in documents that are often not challenged.

[07:36] The factors that are more important than comprehensive knowledge when it comes to solving compliance problems.

[08:12] Benefits of utilizing a “learning-by-doing” strategy.

[09:38] How to get hold of me if you would like to learn more.

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.

• Connect with me on LinkedIn here.

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In this episode, I explain why to-do lists aren’t actually as helpful as many time-management gurus would have you believe! I also share a new approach that you can use to define your strategic priorities instead of a to-do list.

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:

[00:42] What time management gurus have led us to believe about to-do lists.

[01:16] The problems with to-do lists.

[02:20] Examples of common to-do list items.

[02:46] Why to-do lists don’t often contain strategic priorities.

[03:54] Items that you don’t want to find on your compliance department’s to-do list.

[05:22] Indicators that your compliance department is not prioritizing the right things.

[06:04] Shifts that are taking place within hugely profitable companies.

[07:29] The importance of understanding the difference between busy work and solving real problems.

[08:06] A new approach to defining the strategic priorities in your business.

[09:20] An important question that all business leaders should be asking themselves.

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.

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In this episode, I run through some of the common mistakes that FinTech founders make when trying to build relationships with the government, and I share some helpful strategies for how to build these relationships more effectively.

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:

[01:22] A misconception that many FinTech founders have about government figures at public events.

[04:31] Why I don’t think it is beneficial for FinTech startups to offer educational workshops to government officials.

[06:00] A common problem with giving feedback on regulatory drafts.

[09:34] The limitations of being a small startup.

[10:04] How to approach meetings with government officials.

[10:47] My recommendation for commenting on regulatory suggestions in a way that will be helpful.

[12:29] How to respond to unfavorable regulatory feedback in a way that will benefit you.

[14:20] An important factor to keep in mind when dealing with government institutions.

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.

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When I interacted with Wirecard a few years ago, I had mixed feelings about them. In some ways, Wirecard is very similar to most other FinTechs, but their fraudulent activity is in a league of its own!

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:

• [00:38] The mixed feelings that I had towards Wirecard when I worked with them.
• [03:43] An explanation of what Wirecard does.
• [04:50] Some of the characteristics that Wirecard has in common with most other Fintechs.
• [05:41] Wirecard’s unusual path to becoming a public company.
• [07:11] How honest mistakes can benefit a business.
• [07:48] What Wirecard did with the billion dollars they made between 2010 and 2015.
• [08:27] The blind political support that Wirecard received in Germany.
• [10:52] An overview of Wirecard’s fraudulent activities.
• [13:08] My top piece of advice for dealing with mistakes.

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.

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Yana is recording from one of her favorite cities, Dusseldorf. She’s talking all about compliance tools, compliance tool selection, and why you shouldn’t select your tools based on pricing alone.

We go through a list of questions to ask about the tool to really understand the metrics and amount of false positive checks created. Choosing the lowest price per check can cost you more if the tool creates excessive false positives. You could end up wasting a lot of time and money.

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:

[02:11] The purpose of adding any compliance tools to your compliance toolkit should be to improve the experience of internal and external users.

[03:43] How many false positives does this tool generate? Ask how many false positives versus true hits I can expect.

[04:43] What can the tool do automatically to help reduce the number of false positives? What will make the settings more accurate and improve the number?

[06:41] Ask if there is machine learning in place that can help adapt the performance of fraud management.

[07:05] Ask how many customers get approved by this tool at the first attempt. How does the tool differentiate active versus inactive accounts?

[09:10] How long on average does it take for an agent or your compliance analyst on an alert or flag to dismiss the alert or come to a decision about the customer?

[10:26] Even if you choose the lowest price per check, if the tool creates a lot of false positives, you will end up paying more.

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.
• 103 - How AML and Other RegTech Tools Became the Candy Crush Office Game for the Compliance Department

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Cancel culture refers to the ostracism of a person as a result of them saying morally wrong, subjectively offensive, or politically insensitive. In this episode, I talk about the downsides of cancel culture, and why it could ruin your FinTech startup if you let it thrive.

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:

[01:18] The definition of cancel culture.

[02:05] Why I have a problem with cancel culture.

[02:43] Exploring the term ‘intolerant minority.’

[05:11] How cancel culture stifles creativity and progress.

[06:03] Why cancel culture often thrives in FinTech startups.

[06:52] Examples of how cancel culture can play out in a Fintech startup.

[11:42] The danger of cancel culture in a Fintech startup.

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.

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Compliance templates can be hugely beneficial, but they can also cause a lot of confusion if you don’t know how or when to use them. If you’ve ever wondered about which situations are suitable for compliance templates and which are not, this episode is 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:

[00:40] The commonly asked questions that I am going to address in this episode.

[01:10] Benefits of using compliance templates.

[02:19] Why templates can cause confusion.

[04:38] How to approach the creation of a risk appetite statement when you are asked for one.

[07:24] What it means to describe your internal assurance processes.

[08:36] My advice on what to do when someone asks to see your GDPR compliance policy.

[10:18] Why you don’t need to panic when you are asked to produce a detailed flow of funds.

[11:07] Additional examples of situations where templates will not work.

[14:20] The additional service that I offer alongside my templates.

[17:57] Don’t overthink compliance templates!

Show links:

• Click here to view the Compliance That Makes Sense Helpline.
• Interested in FinTech compliance? – Consider investing in the FinTech Compliance Self-Starter Package!
• Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click here.

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Adding more features, data, and analytics capabilities to your RegTech tools may sound like a worthwhile effort, but it actually does more harm than good in the FinTech world. Tune in today to hear why this trend is more like a Candy Crush office game than an effective business strategy.

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:

[01:02] The dangerous trend that is taking place in the RegTech industry.

[01:41] How RegTech companies are trying to differentiate themselves.

[02:35] The main purpose of compliance tools.

[02:49] Why I don’t think the strategy that RegTech companies are using is going to work.

[03:13] One of the biggest compliance inefficiencies within FinTech companies.

[05:15] Why compliance professionals often incorrectly believe they need more data.

[07:54] The mission of most RegTech companies.

[08:27] Why adding unnecessary data is like a Candy Crush office game for compliance teams.

[09:21] Advice for founders who are thinking about adopting additional RegTech tools.

[10:03] Let me know about your experiences with this topic!

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.

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The Tornado Cash sanctions are unusual, unclear, and in my opinion, a perfect example of how modern politicians weaponize financial services and technical infrastructure. Tune in for this week’s episode, where I share my thoughts on why sanctions against Tornado Cash are counter-productive.

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] An overview of today’s topic and the inspiration behind it.

[01:51] Thoughts that I had about Mikhail Gorbachev during my teenage years and what I respect most about him now.

[04:41] What I believe to be the best use of political power.

[06:26] An explanation of how Tornado Cash works.

[08:24] Impacts of the sanctions imposed against Tornado Cash.

[09:29] The unusual nature of the sanctions against Tornado Cash.

[12:08] Lack of clarity around what happens when a Smart Contract is sanctioned.

[14:48] Why I disagree with the decision to impose sanctions against Tornado Cash.

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.

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After noticing that there is a lot of confusion around the difference between client fund segregation and deposit protection schemes, I decided to clear that up in today’s episode by diving into what exactly client fund segregation is, why it exists, and how to approach it!

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 inspiration behind today’s topic

[01:35] The reason that client fund segregation requirements exist.

[04:18] Why deposit protection schemes are made redundant by fund segregation.

[05:34] The types of funds that need to be segregated.

[06:18] When to segregate clients’ funds.

[08:47] Examples of special rules relating to fund segregation in unusual cases.

[11:04] How to manage a case of unallocated funds.

[12:51] Dealing with prepaid/settlement accounts.

[14:20] Find out whether you are able to invest client funds.

[15:48] Client fund segregation: fiat versus crypto.

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.

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Welcome to episode 100! In celebration of reaching this milestone, I have dedicated this episode to explaining why I do what I do, and what I love about my job. Thank you for being a part of the Compliance That Makes Sense journey so far!

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:

[00:34] Welcome to episode 100!

[00:49] The inspiration behind this episode.

[01:31] What I love about working in the FinTech space.

[02:59] Two of the most important lessons I learned during a challenging period of my life.

[04:40] Why the FinTech industry exists.

[04:57] Restrictions that traditional banks have put in place with regard to the flow of money.

[06:00] Challenges that small businesses face in the traditional finance world.

[06:38] My feelings towards the injustices in the traditional financial system.

[06:54] What I aim to achieve through the work that I do.

[08:12] Thank you for being here for this milestone!

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.

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In the old-fashioned world of traditional finance, it was beneficial for risk and compliance teams to provide as much information as possible in a risk assessment. In today’s Fintech environment, the core role of risk and compliance teams has changed, and the old ways of doing risk assessments are no longer a recipe for success! Tune in today to hear my advice on how you should be approaching risk assessments as a Fintech founder and don’t forget to join my Risk Assessment workshop where i walk you through the methodology of creating the risk assessment and give you all the templates needed.

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:

[02:07] Various issues associated with the old ways of doing risk assessments.

[03:52] Information that companies gather from your risk assessment.

[04:30] How companies determine whether a risk assessment is “good” or “bad.”

[05:33] Factors that make a risk assessment difficult to understand.

[07:29] The core role of risk and compliance teams in the old fashioned world of traditional finance, and how this impacted their approach to risk assessments.

[09:13] How the role of risk and compliance teams has changed with the evolution of the Fintech space.

[11:05] My advice preparing and presenting risk assessments that are likely to have a successful outcome.

[12:05] Why you should think about risk assessments as a tool of influence.

[12:29] Value in simplifying risk assessments.

[13:34] How to structure a risk assessment.

[14:23] Details about the workshop I am holding on August 23rd.

Show links:

• Risk Assessment Workshop
• 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.

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Fraudulent activity and security incidents are inevitable. The important thing is that you know what to do if it happens to you. Tune in for today’s episode where I share my key pieces of advice on how to approach these situations.

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:

[01:31] The first step to take when you suspect a security incident: block all withdrawals.

[02:09] What to do after you have completed step number one.

[03:26] Why you should never try to cover up a security incident.

[05:04] How fraudulent activity is typically discovered.

[06:39] Why you need to find out which financial institutions received and authorized the payment instruction from the suspected fraudulent user.

[08:08] The importance of understanding the contractual liability framework relating to fraud.

[08:21] Why the timing of your responses matters when it comes to dealing with fraud.

[09:02] Why it makes a difference whether the fraud victim is a natural person or a legal entity.

[10:08] What to do once you have confirmed a case of fraud.

[13:55] Everybody experiences security vulnerabilities and fraud, you are not alone!

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.

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Running a company is not easy; it requires pragmatism, discipline, sometimes a cold heart, and learning to master the difficult art of delegation. Tune in for today’s episode which is all about the importance of finding a compliance team that shares your risk appetite so that you don’t waste valuable time and resources!

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] Super Pumped: the book that inspired today’s episode.

[02:23] Some of the challenges of being a FinTech CEO.

[04:39] Why I disagree with many peoples’ opinions on why Travis Kalanick was removed from Uber.

[06:21] The benefits of experiencing security breaches in the early days of your company.

[07:19] What the risk management strategy of “what doesn’t kill you makes you stronger” looks like.

[10:23] Why I don’t recommend a conservative risk management approach.

[11:51] One of the biggest mistakes that founders make with regard to compliance.

[13:23] The importance of ensuring that you, as a founder, have the same approach to risk as your Chief Compliance Officer.

[14:20] Examples of compliance “noise” that you should ignore.

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.

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I’ve been asked by many different people about how to choose a banking-as-a-service partner and the differences between banking-as-a-service partners and FinTech-friendly banking partners. So, I’ve put everything you need to know about this topic into this podcast episode!

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:

[00:45] The reason why I chose banking-as-a-service as today’s topic.

[01:31] An explanation of what banking-as-a-service is (hint: it’s not just a bank that offers services to FinTech startups).

[03:23] Some of the most popular banking-as-a-service providers.

[04:00] Another term for banking-as-a-service.

[04:28] The difference between banking-as-a-service and cards-as-a-service platforms.

[00:39] Comparing banking-as-a-service and open banking.

[06:04] How a FinTech-friendly banking partner differs from a banking-as-a-service partner.

[06:54] Examples of conditions that some banking-as-a-service partners have put in place in relation to their potential clients.

[10:17] The best way to get in touch with a banking-as-a-service partner.

[10:47] Best of luck!

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.

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Every now and then, opportunistic people join forces to build hype around a compliance topic with the aim of creating confusion so that they can swoop in to “save” you. Today I’m going to explore why the current hype around unhosted/private wallets is a perfect example of this kind of unjustified hype.

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:

[01:02] Where the unjustified hype around unhosted wallets originated.

[03:04] An analogy that explains why people may choose to use unhosted wallets.

[05:32] Exploring how private wallets work.

[06:49] Examples of unnecessary ideas that have been gathering momentum around unhosted/private wallets.

[07:36] Why obligations to collect information about senders and recipients do not apply to unhosted/private wallets.

[09:22] Why I don’t think there is cause for concern around ownership of privately held wallets being made publicly available.

[11:28] The convergence of crypto and fiat regulations.

[12:45] Why unhosted wallets aren’t the problem that some people are making them out to be.

[13:26] My recommendation: don’t over-invest in solutions around private/unhosted wallet compliance.

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.

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If you want to understand the difference between inflation and a bubble, and how each of these circumstances impacts the FinTech industry, this episode is 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:

[00:39] Introducing today’s topic; the difference between inflation and a bubble, and how this relates to the FinTech industry.

[01:03] An overview of what the FinTech industry does.

[01:42] Demand-led inflation versus supply-led inflation.

[03:08] Measures that have been taken to curb inflation.

[03:50] Why these measures will not impact supply-led inflation.

[04:27] 3 lessons from one of my favorite books, Zero to One:

[05:10] The benefits of incremental progression and agnostic experimentation during a bubble.

[06:01] Why market research is so important.

[06:31] When to focus on product quality versus when to focus on growth.

[09:42] The difference between inflation and a bubble.

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.

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When people feel that money is easy to get, it destroys incentivization. Today’s episode is about the issues that FinTech startups are now experiencing due to the availability of easy money.

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:

[00:42] Introducing today’s topic: the problem of easy money.

[01:14] Why airports are experiencing so many issues at the moment.

[03:08] How people often behave when they feel that money is easy to come by.

[03:42] Factors that have led to the creation of an illusion of financial abundance.

[05:07] My thoughts on some of the startup valuations that I have been seeing.

[05:55] Examples of mistakes that some of my clients have made as a result of the illusion of abundance.

[07:00] Business elements that investors are interested in right now.

[07:46] What the future holds for many FinTech startups.

[08:24] Reasons that signal that we are not yet at rock bottom.

[10:24] Don’t let bad news get you down, use it as fuel to enhance your productivity!

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.

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Today’s episode is a lesson in trade finance, which is an emerging trend in the Fintech space. Trade financing is a financial intermediary that sits between imports and exports and facilitates international trade. Tune in today to hear about how Fintech’s are disrupting trade financing!

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] Trade finance: the focus of today’s episode.

[01:42] My favorite thing about trade finance.

[02:32] An overview of what trade finance is.

[03:10] Examples of trade finance products and services.

[04:40] How trade financing differs from traditional bank lending.

[05:38] The percentage of international trade that relies on trade finance intermediaries.

[06:00] Why trade financing helps companies improve efficiency and boost revenue.

[06:45] The high volume of rejected trade finance applications (many of which are from SMME’s).

[07:48] Examples of how Fintech’s are successfully disrupting the trade financing space.

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.

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Professional gamblers and start-up founders have a lot in common! The inspiration for today’s episode was an interview that I listened to recently with Nate Silver (a respected statistician and successful poker player) which taught me a lot about the similarities between these two career paths. Listen today to hear it all!

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:

[00:37] The inspiration for today’s topic.

[02:14] Probabilistic thinking: one of the most valuable traits for a professional gambler and a start-up founder.

[03:36] Skills that professional gamblers and start-up founders are continuously learning throughout their careers.

[04:31] Reasons that professional gamblers and start-up founders do what they do.

[05:14] Common characteristics of professional gamblers and start-up founders.

[06:36] Why emotional management is so important for gamblers and founders alike.

[07:53] Risks and uncertainties aren’t going anywhere!

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.

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I complete interviews as a compliance expert often. In this episode, I am going to tell you the common questions I get when I’m interviewed by venture capital investors.

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] - The focus of today’s episode.

[01:10] - Interviews for compliance experts are the norm now.

[02:14] - The common questions asked to compliance professionals.

[03:23] - How lean, agile, and flexible compliance can be.

[04:28] - Inactive customers have an associated cost.

[05:05] - What compliance budgets should look like.

[06:33] - Requests for test products without the full scale of compliance efforts.

[07:51] - The current jurisdiction is the one to focus on.

[08:40] - Investors ask questions to validate cost and time spent.

[09:34] - Investors like options that are within the budget.

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.

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There are major differences between working in a large institution and working in a startup environment. Nothing against PayPal, but this episode is all about the mindset shift that I had to make when I left the company and joined the FinTech startup world!

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:

[01:31] Why you shouldn’t waste time preparing regulatory reviews in a FinTech startup environment (and what you should do instead).

[02:55] What risk assessments for a startup should look like.

[03:26] When you need a legal opinion, and when you don’t.

[04:06] Why there is no such thing as a FinTech/crypto expert.

[05:22] The importance of not being afraid to make mistakes!

[05:49] Advice for dealing with auditors, bankers, lawyers, and regulators.

[07:05] Mistakes are inevitable.

[07:48] The best way to handle your mistakes.

[08:15] Value in learning to compromise on your product complexities.

[08:41] Success and size are not correlated in the FinTech startup world!

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.

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My business model is the way it is because of the fact that I work with early-stage start-ups. In this episode, I am going to explain why it is so important that your service providers, partners, and vendors have a similar operating model to your business!

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 focus of today’s episode.

[01:39] Why traditional professionals are often not effective business people.

[03:21] Reasons why I chose not to work with a traditional law firm that I was approached by.

[03:48] Characteristics of the law firm that I was approached by, and the work that they wanted me to help them with.

[06:09] An example of how to eliminate a lot of friction and misunderstanding that occurs in the business realm.

[06:45] Why SAAS/tech companies typically work well together.

[08:00] One of the biggest friction points for businesses.

[09:05] How SAAS/tech founders measure success.

[10:00] The approach I have taken to building my business.

[11:00] Valuable advice for FinTech founders who are looking to hire a service provider.

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.

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The convergence of crypto and fiat regulations is already happening, and it is not going to slow down. In today’s episode, I share with you a few reasons why I think this is a good thing!

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 topic of today’s episode.

[00:57] Examples of times when crypto and fiat regulations have converged.

[02:08] Arguments about regulations that are no longer valid.

[02:39] How I expect blockchain services will be regulated in the near future.

[03:56] Crypto fraud; how the convergence of fiat and crypto regulations will change the way this is dealt with.

[04:43] What the convergence means for DeFi projects.

[04:59] How the expected changes to crypto regulations will change the perceived riskiness of cryptocurrencies.

[05:39] Why I think the convergence of regulations is a good thing.

[07:19] What are your thoughts about the convergence of crypto and fiat regulations?

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.

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Although money-moving businesses are an essential service, FinTech startups can still face major challenges during times of economic hardship. In today’s episode, I share how some steps that you can take to prevent your FinTech startup from being decimated by the economic downturn we are heading towards.

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:

[00:44] The inspiration for this episode.

[01:02] A valuable piece of advice that Mara received from its investors.

[01:30] The major collapse that recently occurred in the equity and crypto markets, and what this could signal.

[02:33] Negative economic developments that are causing pain for a lot of people.

[03:43] Examples of how FinTech startups can prepare for an economic downturn.

[05:59] Why the FinTech sector will be affected less than other industries during an economic downturn.

[06:39] Challenges that FinTech startups are likely to face during an economic downturn.

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.

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I have experience working in emerging markets and developed markets, and in today’s episode I am going to share with you some of the key differentiating characteristics, and a few of the pros and cons of each!

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:

[01:21] Why many emerging markets are categorized as high risk.

[02:20] The importance of rethinking your customer risk matrix if you are working in emerging markets.

[02:41] Documentation issues that you may run into when working in emerging markets.

[03:19] Challenges that can arise when analyzing sources of funds and wealth in emerging markets.

[04:02] Differences between marketing and customer acquisition strategies in emerging and developed markets, and how this impacts compliance.

[04:36] Why winning local corporate deals and securing local financial partnerships is easier in emerging markets.

[05:56] The problem with the way markets are categorized according to risk.

[08:43] Differences between the career trajectories of the people who I work with in emerging markets and those who I work with in developed countries.

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.

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In this week’s episode I share answers to some of the most frequently asked outsourcing related questions, and I explain why I don’t think outsourcing compliance is a good idea for early stage FinTech startups!

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:

[00:45] A common question I get asked by potential customers about outsourcing.

[01:30] Why I think it is better to do your compliance in house, rather than outsourcing it.

[02:15] Some of the downsides of outsourcing compliances.

[02:51] When outsourcing compliance is a good idea.

[04:25] The importance of listening to feedback from your customers carefully when you are an early stage FinTech startup.

[07:30] Why larger, more established companies will benefit more from outsourcing.

[09:24] Examples of functions that I would recommend outsourcing.

[10:30] Some of the most frequently asked questions I receive about outsourcing.

[11:33] Critical versus non-critical outsourcing.

[15:41] Comparing outsourcing and vendor services.

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.

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Pricing should be a part of the overall growth strategy of your FinTech, and in today’s episode I’m going to be talking about the pros and cons of a number of different pricing models.

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:

[01:04] Why FinTech CEOs worry about charging their customers.

[01:26] The inspiration for this episode.

[03:37] Changes that Apple and Google have made in the past few months which have affected the price of online advertising.

[04:47] Why free models have been used as a growth strategy by many FinTechs.

[05:20] The difference between freemiums and free trials.

[06:25] When you should consider using a freemium model.

[10:40] Benefits of using a free trial model.

[12:30] Where the limitations of free trials and freemiums lie.

[13:11] An overview of subscription based models and premium memberships.

[15:19] The downsides of free trials.

[15:46] How pricing grandfathering works.

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.

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Despite their appeal, when it comes to compliance tools, less is more! Tune in to today’s episode to hear why, and also to get some advice on the types of questions you should be asking any compliance vendor you are considering 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:

[02:06] Why compliance tools often produce inconsistent data.

[03:40] Do less checks!

[06:48] The mindset that you should adopt when you enter into negotiations with a compliance vendor.

[07:18] Why you should find out how long a compliance vendor has been in business and who their customers are before you hire them.

[08:21] Statistics that you should ask for when interviewing compliance vendors.

[09:02] When you should negotiate a fixed fee arrangement with a compliance vendor.

[09:49] The importance of understanding how a compliance vendor generates red flag signals.

[10:39] Why you should always find out if a compliance vendor is utilizing their own technology or somebody else’s.

[12:00] Reasons to always test the interface, rather than relying on the demo.

[15:03] Final words of advice: no tool is perfect, and less is more!

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.

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War is a process of managing resources and people, and today’s episode is all about how to win a war without fighting. I have borrowed wisdom from Sun Tzu’s book, The Art of War, and applied these concepts to the FinTech compliance industry.

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] What you can expect from today’s episode, which revolves around The Art of War, a book written by Sun Tzu.

[01:25] Examples of how to win a war without fighting (as Sun Tzu describes in his book).

[02:18] Why countries never benefit from prolonged wars.

[03:06] The main theme of The Art of War, and how it relates to the compliance industry.

[03:46] My new motto, inspired by Sun Tzu’s wisdom.

[04:34] Examples of compliance projects that become problematic if they aren’t finished quickly.

[05:05] Sun Tzu’s thoughts about which kind of people make the best spies, and what FinTech startups can learn from this.

[07:30] Factors that will enable your FinTech to move fast and win.

[07:53] Why I initially disagreed with Sun Tzu’s idea of placing your army in a desperate position in order to win, and what made me change my mind.

[10:25] A moment of appreciation for the wisdom that we have access to.

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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/

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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.

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Despite the fact that many people within organizations believe that doing more manual reviews is the magic bullet that will make their compliance team more efficient, this couldn’t be further from the truth. Tune in today 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:

[00:48] What many of my clients get wrong about compliance tools.

[02:26] The point when people usually decide that they want more staff members in their organization to do more manual reviews.

[04:19] Why I believe that manual reviews are time bombs.

[05:29] A big reason why people so often make mistakes with manual reviews.

[06:16] Two big challenges that the financial industry struggles with.

[07:34] Examples of cases that do require people to do manual reviews.

[09:11] Why it is not a good idea to assign engineers to resolve issues with compliance tools.

[10:24] How to eliminate redundant manual processes within your organization.

[11:38] A common question that clients ask me about compliance tools in younger organizations, and how I respond.

[13:05] Why your level of experience matters when it comes to compliance tools.

[13:58] Where you can find my newly updated guide for digital onboarding of customers.

Show links:

• Digital Onboarding Compliance Guide for FinTech Startups: https://competitivecompliance.lpages.co/digital-onboarding-kyc-checklist-split-test/

• 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.

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Although many things have changed in the token industry over the past few years, token sales are still happening, they are still beneficial, and they definitely have a future! If you want to learn about the most vital elements of token based crowdfunding, don’t miss this episode.

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:

[00:59] The short answer to the question of whether token sales have a future: Yes!

[01:54] Three main reasons that token based crowdfunding is beneficial.

[03:45] An overview of the different categories of crowdfunding that exist.

[05:39] Additional details about the ‘Commercial Advances' category of crowdfunding.

[10:40] Who you can sell your tokens to, and the factors to take into consideration if you want to sell.

[12:23] My thoughts on token sale restrictions.

[14:52] How the token industry has changed over the past few years.

[16:38] Legislation that exists around token sales.

[18:30] Why you don’t need to worry about being scammed when selling tokens.

[19:27] If you enjoy the podcast, please like, share and review!

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.

• Click here to learn more about FinTech CEO Guide to FastTrack Compliancehttps://competitivecompliance.co/fintech-ceo-guide-to-fasttrack-compliance/

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It’s not always easy to know where the root cause of the problems in your organization lies. In today’s episode I’m going to give you some examples of common issues which may seem like organizational issues but in fact, they are just a result of inexperienced compliance officers who don’t yet know that not all problems can be Googled!

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:

[00:54] The inspiration behind today’s topic.

[02:54] Examples of organizational issues that arise from conflict between the compliance team and the product/engineering team.

[05:58] What compliance officers generally do when they don’t know what is possible with the data they have.

[07:11] Cases where customers may get a negative impression of a compliance team.

[08:58] Disagreements that may arise between compliance and marketing teams within an organization.

[11:15] What experienced compliance officers know that inexperienced compliance officers don’t.

[12:57] The dangers of over-conservative compliance approaches.

[14:33] Signs of inexperience that FinTech CEOs should be aware of within their compliance teams.

[17:26] An important question to ask yourself if you are part of a FinTech organization struggling with any of the issues discussed today.

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.

• Click here to learn more about FinTech CEO Guide to FastTrack Compliance
  https://competitivecompliance.co/fintech-ceo-guide-to-fasttrack-compliance/

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There are a number of different factors to consider prior to undergoing a ‘fit and proper’ assessment, and although there is no one-size-fits-all approach, in today’s episode I’m going to talk about some of the most important practices and principles which can help you achieve success in the FinTech compliance world!

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] An introduction to the topic of today’s episode.

[01:07] The importance of ensuring that your team is sound prior to an assessment.

[02:23] Key factors to take into consideration when structuring your team.

[04:20] Examples of roles within a FinTech company that can be combined.

[05:11] Cases where a director of one entity can be the director of another entity.

[06:35] Reasons that some regulators don’t approve of one person being the director of multiple entities.

[09:16] Why local experience is becoming less relevant in the FinTech world.

[10:38] Weighing up the pros and cons of hiring a part time compliance officer.

[11:45] Situations within which conflict of interest issues can arise, and my advice on resolving these.

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.

• Click here to learn more about FinTech CEO Guide to FastTrack Compliance
  https://competitivecompliance.co/fintech-ceo-guide-to-fasttrack-compliance/

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What’s on the horizon for FinTech and Crypto in 2022?

Hello friends and Happy New Year 2022. I strongly believe that this year is going to be the year of crypto. In today’s episode, it is dedicated to DAOs (Decentralized Autonomous Organization) and why I don’t believe in them.

Join me as I share my thoughts on DAOs and their possible future.

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:

[00:58] - The focus of this episode: DAOs

[02:06] - Bitcoin ecosystem is generally considered the first functioning DAO

[03:24] - Two most popular DAO cases.

[06:25] - Why do I think that DAO is a bad idea for escaping or avoiding regulations, or jurisdictions.

[07:32] - And the three main problems with DAOs in this case.

[09:22] - An internet community with a shared bank account sounds great in theory.

[09:44] - Funding of a DAO and function of a DAO often depends on distributing tokens

[10:17] - Why DAOs are a weak governance idea.

[12:03] - What may happen in the future for DAOs.

Show links:

• Sign up for the Compliance That Makes Sense Helpline today!

• 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.

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What’s on the horizon for FinTech and Crypto in 2022?

In today’s episode, I wanted to discuss the trends I see coming in the FinTech space for 2022. Obviously, things may change with this forecast, but this is why we love crypto and FinTech so much.

Join me as I share my thoughts on what we might see in the coming year.

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:

[00:43] - The focus of this episode: FinTech trends I see for 2022.

[01:30] - What I see regarding crypto adoption in gaming.

[02:29] - Will there be interest in institutional crypto adoption?

[03:18] - What about loyalty programs with online and eCommerce companies?

[04:05] - Cash-back and rewards-back programs in 2022.

[05:06] - I discuss the mess the U.S., as a jurisdiction, faces due to self-inflicted regulatory issues around crypto.

[05:47] - Will CBDCs grow in 2022?

[06:14] - I suggest why many existing private stablecoins will likely be restructured or may even disappear.

[07:29] - Inflation is on the horizon and it will create new opportunities for new services and profit-making opportunities. I review why.

[07:55] - I wrap up the conversation. Have a wonderful rest of your 2021!

Show links:

• Sign up for the Compliance That Makes Sense Helpline today!

• 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.

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Gaming is an industry that is growing super fast. Half of the world’s population are gamers in some capacity. And, gaming is super profitable.

In today’s episode, I wanted to give you one specific example that I feel will be very popular in the coming year. We are going to discuss gaming and crypto and how they will most likely create a lot of white-label solutions and partnerships in the months and years to come.

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:

[01:15] The focus of this episode: gaming and crypto.

[01:39] What I learned from my son who is in the gaming space.

[02:24] How much capital is waiting to be invested and deployed into gaming and entertainment startups?

[02:45] I explain why some investors have their eyes on the gaming industry.

[03:27] Gaming as an industry from a historical perspective.

[04:30] My thoughts on an Axie Infinity NFT case study.

[05:36] The movement from pay-to-play, to pay-to-win, to pay-to-earn.

[07:20] Are gaming studios equipped to handle regulatory pressure as of today?

[08:34] What I see happening with FinTech and the gaming industry in the coming months and years.

[10:33] The Compliance That Makes Sense helpline is now open! Here’s how to work with me.

Show links:

• Sign up for the Compliance That Makes Sense Helpline today!
• 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.

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I recently read The Beginning of Infinity, a book which had a profound impact on how I see the world. In today’s episode I apply some of the concepts from that book to my field of expertise. If you’re looking for a way to efficiently scale your startup while remaining compliant, you’ve come to the right place; get ready to say goodbye to risk-aversion and expand your knowledge horizon!

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:

[00:49] The focus of this episode.

[01:14] Some lessons that I learned about compliance while working at Amazon and PayPal.

[02:49] Why big FinTech companies must be accepting of risks and deal with compliance in a targeted way.

[04:16] What made me want to leave my job at PayPal.

[06:10] My experience as PayPal’s compliance point of contact for some of their internal projects.

[09:16] The motivation behind my decision to start my own business.

[10:56] The approach you need to adopt if you are going to keep growing while remaining compliant.

[13:22] Three key components which will help you achieve compliant growth.

[15:32] Why FinTech founders struggle so much with pragmatic risk acceptance.

[16:28] The Beginning of Infinity; how this book changed my life and why everyone should read it.

[18:05] Two concepts from The Beginning of Infinity, and how they relate to compliance and risk.

[20:41] How to prepare for future risks in order to efficiently build scalable compliance within your FinTech startup.

[23:48] What I am going to be discussing in next week’s episode.

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.

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There are common misconceptions around FinTech compliance, and if you take the old-fashioned approach, you could end up really hurting your business. After listening to today’s episode you’ll understand the best way to approach compliance, and how this will allow you to scale your operation in a sustainable way.

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] Misconceptions that many FinTech founders have about compliance.

[02:09] An explanation of minimal-checklist compliance.

[04:14] Comparing minimal-checklist compliance with just-in-time compliance.

[06:44] The danger of implementing compliance regulations without understanding them.

[07:47] Low success rates of FinTech start-up’s.

[08:05] How the giants of the FinTech world ‘got away with murder.’

[10:03] Old-fashioned compliance advice, and how it can hurt your business.

[11:20] What I believe to be the most efficient way to scale your FinTech while meeting regulatory requirements.

[11:45] The open-endedness of most compliance regulations.

[12:22] One of the biggest lies that circulates in the financial industry.

[14:10] Biggest costs for many FinTech start-up’s.

[15:08] How you should be approaching risk.

[16:03] What you can expect from the upcoming Compliance That Makes Sense episode.

Show links:

• Click here to learn more about FinTech CEO Guide to FastTrack Compliance
  https://competitivecompliance.co/fintech-ceo-guide-to-fasttrack-compliance/

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In this episode Yana shares with you her recent research around NFTs, their regulatory framework and how they are currently offered and traded. You can also find more information about Yana's personal NFT here.

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:

[01:21] What you are buying when you purchase an NFT.

[01:54] Two ways in which you can store the digital asset that you have purchased.

[03:00] The admirable intention behind NFTs.

[04:00] Problems with the way NFT’s are being governed.

[06:54] Differences between the creator-owner relationship in the NFT and non-NFT world.

[10:11] How you can end up with a worthless digital asset.

[11:16] Why I think we are in an NFT bubble.

[13:08] Reasons that most NFTs are not securities.

[14:16] Crypto adoption; the biggest benefit of the NFT movement.

[15:54] Why I decided to create my own NFT.

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.

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Unfortunately, the vast majority of referral programs established by Fintech and crypto start ups are poorly structured. This leaves them open to being exploited by bounty hunters who are just looking for rewards and don’t have any real interest in the services being offered. In this episode I’ll share with you some advice for how to better structure your programs in order to prevent this pervasive issue!

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:

[00:41] Why many Fintech and crypto startups offer referral programs.

[01:31] The problem with the vast majority of referral programs.

[02:21] What bounty hunters do in this context.

[03:30] Compliance problems that arise when a referral program is badly structured.

[05:32] Why you should never allocate rewards upfront.

[08:10] Strict terms of service are essential for a referral program.

[10:12] Example of the type of language you could use in your terms of service.

[11:49] The difference between a referral program and a loyalty program.

[14:26] Vanity metrics, and why you shouldn’t be chasing them.

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.

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Because of the type of service I offer, I have an ideal client base. Sometimes that means saying no to certain requests, and in today’s episode I am going to share a few examples of the times that I have turned down customers, in the hope that it will help make it easier for you to make these types of decisions in your own business!

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:

[00:41] An overview of what today’s episode is going to be about.

[01:24] The service that I provide, and the clients who I want to serve.

[02:35] I share an example of conditions that I set when working with clients who aren’t an ideal fit for my business.

[06:05] How I know when a client isn’t a good fit.

[07:44] The way some companies handle their business after they reach their initial milestone.

[06:33] What I do when the work required by existing clients moves away from what we agreed upon.

[11:58] Projects that I recently declined because they didn’t need my services.

[12:54] Why I disagree with the way some consultants do business.

[14:40] The upgraded training I am going to be providing, and where you can find out more about it.

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.

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This is a short and sweet episode about the reasons that the vast majority of retail public investors want to buy and sell cryptocurrencies, and the tokens that you should and shouldn’t consider offering to your customers if you are a fiat focused fintech looking to branch out into the crypto space.

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:

[00:49] An introduction to today’s topic, and who it is aimed at.

[01:51] How many non-professional investors view cryptocurrencies.

[03:49] Inflation pressure, and why people see crypto as protection against this.

[06:10] The number of tokens you should be offering if you are just getting started with crypto.

[06:50] Types of cryptocurrencies that you should offer.

[07:09] What you can expect to happen when cryptocurrency prices go up.

[07:25] The increased demand that occurs in the crypto space when the market declines.

[08:31] Which stable coins you should avoid at the beginning of your crypto offering journey, and why.

[10:16] Other tokens that you should steer clear of.

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.

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In today’s episode I am going to take you on a journey into the realms of compliance and sales. Although there are some obvious differences between the two, there are also more similarities than you may think! The purpose of this episode is to help professionals on one side of the fence to better understand where those on the other side are coming from, and therefore improve their ability to collaborate effectively.

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:

[00:51] The new role that I have recently taken on which inspired this episode.

[02:40] What you need to be prepared for when dealing with compliance and sales in the FinTech world.

[03:41] Benefits of the geo-agnostic nature of compliance and sales.

[04:49] Why I disagree with people who say it is hard to find great compliance people.

[06:43] The lack of premium services and offerings in the B2B world.

[09:21] Reasons that I think it is uncommon to find VIP services in B2B sales and compliance.

[13:47] Why I have chosen an approach that differs from the norm in B2B.

[14:35] Examples of common mistakes made in compliance and sales sectors.

[17:03] The most obvious difference between sales and compliance.

[18:30] Three personality types of salespeople, and the pros and cons of each.

[23:07] How compliance professionals’ prior work experience generally impacts the way they approach compliance.

[26:29] Differences between what sales and compliance people need to understand when working in Fintech.

[28:03] A big thank you to everyone who has been liking and sharing these episodes!

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.

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It is my opinion, and the opinion of many experts who have been working in the space for a long time, that the new US Crypto bill is flawed in many ways. The bill makes assumptions and proposes to impose regulations which, as I will explain today through a number of examples, are likely to cause problems for the US Crypto market.

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:

[00:36] My overall view on the new US Crypto bill.

[01:08] Some key elements of this bill, and the impact it is intended to have.

[01:55] An assumption that the bill makes, which I think is flawed.

[02:39] How the bill changes the categorization of crypto tokens.

[04:25] Why I disagree with the broad categorizations of tokens under the new bill.

[04:49] An ambiguously worded provision in the bill which deals with stable coins.

[06:33] The lack of understanding around e-money in the US.

[07:11] How the bill approaches contracts that take longer than 24 hours to settle.

[07:39] What the bill proposes regarding anonymous features and platforms, and the changes that are already happening as a result.

[09:40] Examples of some of the other, relatively small, provisions in the bill.

[10:39] When this bill was introduced, and the responses that it has sparked.

[12:04] Why this bill, and the confusion around it, is good news for Europe.

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.

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Most people are aware of the seriousness of sanctions but don’t properly understand the nuances or the mechanics behind them, which leads to the formulation of a number of misconceptions. In today’s episode I’m going to shed some light on this topic, and by the end you’ll have a better understanding of the types of sanctions that exist, and how, as a financial institution, you should be dealing with them.

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:

[00:48] Why I decided to make sanctions the focus of today’s episode.

[01:54] How sanctions are imposed.

[02:26] The two countries that are currently under sanctions, and why this is such a rare occurrence.

[03:47] Some of the reasons that specific individuals would have sanctions against them, and what these types of sanctions mean.

[04:55] An explanation and examples of the third category of sanctions: sanctions against groups or organizations,

[06:41] How sanctions against industries and commercial activities work.

[07:43] Why is it important to understand the different types of sanctions that exist.

[09:32] Some contradictions in the sanctions realm which can make the life of a compliance officer very interesting.

[11:00] My recommendation for dealing with countries, industries, people, or organizations that are under sanctions.

[12:16] How financial institutions should implement sanctions requirements from a technical standpoint.

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.

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There are hundreds of cases in the field of compliance where people create problems for themselves, when, in reality, those problems do not exist! In today’s episode, I’m going to talk you through three of the common fears around compliance in FinTech companies, and why these fears are unfounded.

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:

[00:56] How I have structured today’s episode.

[01:32] Problem number one: How do we decide whether or not we need articles of incorporation or association?

[02:13] Why companies collect verification about their customs.

[04:20] Circumstances under which you don’t need to collect articles of incorporation or association.

[05:48] A question I was recently asked by a client about data retention.

[06:50] Why a company may decide to keep customer information for a period longer than five years.

[08:02] Unrealistic fears that compliance officers have around keeping customer information.

[09:46] Dealing with risk categorization in European territories.

[12:28] Approaches to risk categorization that are unnecessary.

[13:30] How to simplify the “problem” of risk categorization in European territories.

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.

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Despite so many financial industry veterans being anti-risk, in today’s episode I’m going to explain why I think this is not a good approach, and I share with you the many benefits of taking risks and making losses as a FinTech start-up.

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:

[00:41] An introduction to today’s controversial topic.

[01:02] What many financial industry veterans say about risk.

[01:34] One of the biggest myths in the financial industry.

[01:50] The trait that so many FinTech unicorns share.

[02:56] “What doesn’t kill you makes you stronger”: what this looks like as a risk management strategy.

[04:21] A question which may make you rethink your opinion on risk.

[05:48] Examples of rules and regulations which you shouldn’t be spending time and energy on now.

[07:32] Another regulatory hoax which I speak about in more detail in previous episodes.

[08:05] An approach to risk that I advocate for.

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.

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Today marks one year of me bringing you Compliance That Makes Sense! In today’s episode I share what inspired me to begin this podcast, and what has motivated me to keep going. You’ll learn more about my background, and why I am so passionate about FinTech compliance. Thank you for being a part of this journey, I’m looking forward to many more years with you!

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:

[00:34] Why this episode is a special one.

[01:19] A debate I had with a driver in Salzburg about the political and economic situations in Austria and in Russia.

[04:19] What I have realized about hard work and education in today’s world.

[05:10] Something that I have in common with many of my friends, colleagues, and followers.

[07:57] The vision that you and I are likely to share.

[09:09] Why I am so fascinated by the FinTech space.

[09:51] Limits you are faced with if you hold all your money in a traditional bank.

[11:20] Reasons that I have chosen to live and work in Europe.

[13:59] The contribution that I feel I am making to the future of FinTech.

[14:15] I would love to hear about your FinTech journey.

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.

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For those who don’t know, DeFi is a set of technical solutions that do not have an identifiable person or body behind the service. Today’s episode was triggered by an announcement made by Shapeshift about their intention to completely decentralize their company and go all-in with DeFi because they felt stifled by increased regulatory scrutiny. There are a lot of companies who are taking a similar path, and although I have a lot of respect for DeFi, I am going to explain why I do not think it is going to turn out to be a successful strategy for avoiding regulations and what I predict the future of DeFi projects will look like. Tune in today to hear it all!

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:

[00:45] An explanation of what DeFi is.

[01:25] The specific use case which inspired today’s episode.

[03:10] Another project of mine which went into the DeFi space.

[03:21] Growth in the volume of DeFi projects over the past year.

[03:52] My thoughts on whether DeFi projects are going to work as companies are intending it to.

[05:13] Why I think regulators are likely to clamp down on DeFi projects.

[05:44] Examples of how regulators are going to clamp down on DeFi projects.

[08:23] How stablecoins correlate with the tremendous growth of DeFi projects, and where the problem with this lies.

[11:15] The mix of factors that DeFi projects consist of.

[11:48] What I predict is going to happen to DeFi projects in the future.

Giveaway:

To celebrate 1 year anniversary of this podcast, I will be hosting a giveaway for my listeners. We winners will get free access to one of my workshops (you choose which one)!

Here’s how to participate:

• Leave a rating and a review for the Competitive That Makes Sense podcast on Spotify, Apple Podcasts, Google podcasts!
• Send a screenshot of your rating/review to me by email yana@competitivecompliance.com or DM me on Instagram or LinkedIn
• Submissions for multiple podcasting platforms are allowed to increase your chances!
• Giveaway ends on September 21st at midnight CET
• One prize for every 10 submissions will be granted!

Here’s where you can look at my full workshops list: https://competitivecompliance.co/trainings-calendar/

The winners will be contacted by email by September 22nd, and they should reply within 48 hours. I would need your email, name and the name of the workshop you choose to grant you access rights!

It’s been incredible to me how much this niche podcast has grown over the past year. Whether you’re a long-time listener or have only discovered it recently, I want to thank you from the bottom of my heart; your continued support truly means a lot to me and I wouldn’t be able to do this without all of you!

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.

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So many FinTech start-ups struggle with compliance, and I have had many people ask me how they can get their compliance in order. I have dedicated today’s episode to answering that question so listen in as I explain the three key components which make up a FinTech compliance structure that is likely to lead to success: pragmatic risk taking, efficient processes, and good documentation and policies.

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:

[00:38] A reminder about our giveaway!

[01:34] What sparked my decision to discuss today’s topic.

[03:07] The three key components which make up a good compliance structure.

[03:41] How these three key components interact.

[05:24] I explain what can go wrong when you are missing the documentation component of your compliance structure, using Binance as an example.

[07:55] Problems that commonly occur when efficient processes have not been put in place.

[10:23] Why I refer to the disconnect between what companies say and what they do as window dressing.

[10:54] A real world example of window dressing.

[12:06] Challenges that you will run into if you do not engage in pragmatic risk taking.

[14:31] An overview of the importance of the three components I have talked about in today’s episode.

Giveaway:

To celebrate 1 year anniversary of this podcast, I will be hosting a giveaway for my listeners. We winners will get free access to one of my workshops (you choose which one)!

Here’s how to participate:

• Leave a rating and a review for the Competitive That Makes Sense podcast on Spotify, Apple Podcasts, Google podcasts!
• Send a screenshot of your rating/review to me by email yana@competitivecompliance.com or DM me on Instagram or LinkedIn
• Submissions for multiple podcasting platforms are allowed to increase your chances!
• Giveaway ends on September 21st at midnight CET
• One prize for every 10 submissions will be granted!

Here’s where you can look at my full workshops list: https://competitivecompliance.co/trainings-calendar/

The winners will be contacted by email by September 22nd, and they should reply within 48 hours. I would need your email, name and the name of the workshop you choose to grant you access rights!

It’s been incredible to me how much this niche podcast has grown over the past year. Whether you’re a long-time listener or have only discovered it recently, I want to thank you from the bottom of my heart; your continued support truly means a lot to me and I wouldn’t be able to do this without all of you!

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.

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Through my years of experience working with FinTech start-ups, I have noticed that many CEOs have a strange relationship with compliance. Often, CEOs don’t know when to act or when not to act when it comes to compliance issues. I have developed two guiding principles that I use to build relationships between businesses and compliance, which I am going to share with you in today’s episode. These will make it much easier for CEOs to make decisions when it comes to compliance. Also, I am running a very exciting giveaway, so listen in to hear how you can win!

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:

[00:35] An announcement about a very exciting giveaway I am running!

[02:17] The question that prevents CEOs from making their compliance function more efficient.

[02:34] What I have noticed about the relationship that CEOs have with compliance.

[03:10] Problems that arise when people don’t have a system of guiding principles around when to act and when not to act.

[04:06] Requests that I have recently had from a few clients.

[04:55] The two guiding principles that I use to build bridges between businesses and compliance.

[05:59] More details about my first guiding principle, including some examples.

[08:51] Examples of how to make use of my second guiding principle.

[09:55] Act based on what you know.

[11:00] What the role of the CEO is with regard to compliance.

Giveaway:

To celebrate 1 year anniversary of this podcast, I will be hosting a giveaway for my listeners. We winners will get free access to one of my workshops (you choose which one)!

Here’s how to participate:

• Leave a rating and a review for the Competitive That Makes Sense podcast on Spotify, Apple Podcasts, Google podcasts!
• Send a screenshot of your rating/review to me by email yana@competitivecompliance.com or DM me on Instagram or LinkedIn
• Submissions for multiple podcasting platforms are allowed to increase your chances!
• Giveaway ends on September 21st at midnight CET
• One prize for every 10 submissions will be granted!

Here’s where you can look at my full workshops list: https://competitivecompliance.co/trainings-calendar/

The winners will be contacted by email by September 22nd, and they should reply within 48 hours. I would need your email, name and the name of the workshop you choose to grant you access rights!

It’s been incredible to me how much this niche podcast has grown over the past year. Whether you’re a long-time listener or have only discovered it recently, I want to thank you from the bottom of my heart; your continued support truly means a lot to me and I wouldn’t be able to do this without all of you!

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.

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The well-established nature and high price points of large consulting firms have led to the common assumption that they are the best choice for FinTech companies looking for support with their license applications. Big 4 firms do have a role to play, but in today’s show I explain why this role is different than you may think, using real world examples from my own clients’ experiences.

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:

[01:34] A common belief that people have about large legal firms.

[02:38] What an efficient license application process should look like.

[03:27] I share a personal experience which highlights why I don’t recommend using Big 4 firms for license applications.

[05:31] Another example of why Big 4 firms are not the places to go for license applications.

[07:01] The kinds of clients I usually work with.

[07:30] Elements you need to have in order when you are applying for a license, and the dangers of trying to do all of them at the same time.

[08:50] When it is a good idea to approach a Big 4 firm.

[11:28] Why Big 4 firms are not equipped to handle forward looking projects where they have to deal with risks.

[12:56] How Big 4 firms justify their value and their high costs.

[15:00] The main reason that I believe you should not be approaching Big 4 firms to support your license application.

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 - click here to join and learn more about FinTech compliance

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Most founders would rather be seen as an inspirational, positive figure in their organization, and not as the person who has to constantly push back against their compliance team. If you are one of those founders who feels as if they are always playing the bad cop, this episode is for you! In today’s show I share my perspective on how to improve the relationship between founders and compliance officers; it is not a quick fix, and involves some major changes incorporated in a subtle way, but if you are able to implement these changes, it will benefit the parties on both sides of the equation, and the organization as a whole.

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:

[00:38] Why this month feels different, in a good way!

[01:21] The common theme that I have recently noticed amongst FinTech founders.

[01:58] A founder who I worked with in the past who hired someone to play the “bad cop” role.

[03:55] Reasons that founders don’t want to push back against compliance officers, and why this isn’t the right mindset to have.

[04:52] Why decisions around compliance issues usually fall onto the shoulders of founders.

[07:03] What founders need to understand about their compliance teams.

[08:20] I share a story which highlights the old-fashioned nature of compliance in some organizations.

[11:12] Why creating long lasting changes in compliance is going to take time.

[12:55] Just-in-time versus just-in-case compliance.

[13:28] My recommendations for changing the compliance culture in your organization for the better.

[15:44] Why you should make it clear that changes relating to compliance don’t have to be permanent.

[16:56] The importance of regular reviews and analyses of the changes you are implementing.

[20:07] Content you can expect at the brand-new workshop that I am going to be holding on August 24th.

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.

• Interested in partnering with Lirium AG and offering crypto services to your customers? - click here for more information

• Join the "How to open bank accounts for FinTech startups" workshop here

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The pan-governmental regulatory body, The Basel Committee, recently released a draft document which contains a proposal that is sure to change the cryptocurrency landscape. In this episode, I explain what the proposed regulation means for banks who are holding cryptocurrencies, and the opportunities that this brings about for Fintech companies who are not held to the same excessive restrictions.

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:

[01:02] The draft issued by The Basel Committee regarding banks and cryptocurrencies.

[02:27] An explanation of capital adequacy requirements that banks are subjected to.

[03:11] How banks calculate the amount of reserves of particular assets they need to hold.

[04:02] What The Basel Committee’s proposed high-risk categorization of cryptocurrencies means for banks holding cryptocurrencies.

[05:46] Experts’ opinions on what the proposal means for the future of banks holding cryptocurrencies.

[06:42] Interest that banking customers are showing in cryptocurrencies.

[07:10] Partnerships that banks are considering entering into in order to meet their customers' desires for cryptocurrencies.

[08:20] Examples of partnerships between banks and other organizations which already exist.

[09:18] My thoughts about the future of this industry, and the opportunities for Fintech companies.

[11:15] The workshop I am going to be holding on August 24th.

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.

• Interested in partnering with Lirium AG and offering crypto services to your customers? – Click here for more information.

• Join the "How to open bank accounts for FinTech startups" workshop here.

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Over the past few years, there has been an increase in the amount of money that companies are spending on compliance, but this is not having its desired effect; there are just as many, if not more, compliance issues occurring. In today’s episode I explain why the old top-down certification-based approach to compliance is outdated, and I share what I think would be a better use of your time if you are interested in the field of compliance.

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] Why I decided to take on today’s topic, which can be quite polarizing.

[02:20] Recent interest that has been shown for the compliance sector.

[03:06] The reasons that people pursue CAMS certification.

[05:44] Goals of the institutional, top-down method of compliance, and why this approach is so problematic.

[08:14] What traditional compliance teachers believe is point of compliance is.

[09:01] Learnings I have had from speaking to leaders and founders about compliance.

[10:26] Increases in the cost of compliance over the past few years, and why this has not had its desired effect.

[13:00] Factors that are not important in a business, and those that are.

[13:22] What you will learn from traditional compliance certification training, and what you won’t.

[16:23] What I would advise you to do instead of the compliance certification training.

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.

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I have been part of dozens of FinTech projects over the last three years and they were all successful, which is why I felt that for today’s episode it would be helpful to share with you where and why FinTech start-up founders can be unsuccessful with their license applications. From positioning, to mindset, to switching gears, this information helps you get your business successfully licensed! 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: [00:48] Why I felt hesitant talking about FinTech licensing failures and potentially critizising the work of others. [02:24] One of the biggest mistakes that FinTech start-up founders make is the way they position their business. [04:26] The importance of doing things in the correct sequence when you are setting up your FinTech business. [05:31] A dangerous mindset that many FinTech founders adopt when they begin to experience a level of success. [06:53] Why companies may decide not to pursue their license applications. [08:01] Switching gears; what this means and how it can result in an unsuccessful license application. [09:20] Reasons that moving countries usually doesn’t work out well. Show links: * If you enjoy learning about FinTech compliance and want to be up-to-date with the recent trends, I would love to invite you to sign up for my newsletter here. * Urgently need to prepare FinTech compliance documentation, but have no time and cannot afford to hire help right now - consider investing in the FinTech Compliance Self-Starter Package. It will instantly grant you access to all core policies, procedures, license application template and disclosures any FinTech startup needs to survive and grow.

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Enquiries are okay, but nobody likes getting complaints from customers, and in this episode of Compliance That Makes Sense I am going to share some tips on what you can do to avoid them! I use examples to explain why it is important to have simple, transparent T’s and C’s, and the upsides and downsides of offering a long guarantee period on your product. 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] Hey guys! Today we are going to take about how to reduce the number of customer complaints. [01:07] The reason I decided to do an episode on this topic. [02:54] Why I think you should make your T&C’s as simple as possible. [04:22] Examples of customer enquiries (which are different to customer complaints). [05:36] What a formal customer complaint is. [06:41] An example that highlights why having easily understandable T&C’s will benefit you. [08:58] Why my business mentor recommends offering a long guarantee period. [11:00] Some downsides of offering a long guarantee period. [11:45] Common customer complaints relating to fintech services. [15:15] 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.

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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.

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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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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Welcome to the second installment in my mini-series on The Rise of Just in Time Compliance. Today I wanted to tell you my personal story about how I discovered the just-in-time compliance principles and how it completely changed my life. Rewind the clock back to 2016 when I was working at PayPal and realized I'm smart; I work very hard, so why is it that my success and my financial security always depend on incompetent people? If you have ever felt frustrated and limited working for companies, or bosses who waste company resources and underutilize your skills or talents, or if you have ever wanted to be paid fairly for your expertise and know-how? Listen as I share my story and describe how I took my success and financial security to the next level 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] Hey there, I'm back!
• [03:26] I share how many times I've had to work under people who didn't care about me and who weren't great managers.
• [05:45] What I thought I needed to make me happy and have a perfect job never happened.
• [06:37] I volunteered for a few projects to be their compliance point of contact with no experience in compliance.
• [08:17] These projects were risky, and people expected them to fail.
• [09:42] Most of the projects moved ahead and were blessed by the regulators.
• [10:24] I decided to start my own business because I knew I could consistently get results for the people I work with.
• [12:05] The biggest lesson I learned was the only efficient way to get things done and keep moving forward is to plan for and expect uncertainties.
• [13:26] The easiest way to get started is to take any area where you get stuck and find a way to get unstuck.
• [14:35] 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.

• 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.

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Do you feel you are being taken advantage of and you have no job security? In this Compliance That Makes Sense episode, I want to start a new mini-series of episodes under the common theme of the rise of just-in-time compliance. I want to start the series by addressing some of the main pain points and mistakes that so many compliance professionals make, which is to stop being taken for granted and stop doing free stuff. I am going to summarize a few conversations I have had with my friends, peers, and colleagues that I respect so that we have some common themes around a very few successful people who have free time, have diversified income, and who are truly respected by their peers and what other people are potentially missing.

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

Today's episode:

• [00:34] Hey guys, I'm back!
• [01:19] Many compliance professionals tell me they are overworked and underpaid and really worried about their job security.
• [03:12] Listen to this episode of you are a hardworking professional and want to be acknowledged for the work you do.
• [04:49] Are you going above and beyond to take your professional reputation and track record to the next level, but nothing is changing?
• [07:31] This mini-series is to show you what you can do instead of being taken for granted.
• [08:52] By the end of this series, you will have a complete blueprint of all key success factors that I believe you need to become a true industry leader.
• [10:52] I believe that most people don't realize that just in time than the just in case approach is the new and most efficient way to get things done.
• [12:39] Every expert and every successful professional will tell you that to get paid well for your know-how and expertise, you first need a track record of proven results.
• [14:38] There is no way to get things done without action.
• [16:14] In the next episode, I will share how lost I was at Paypal in 2016.
• [16:37] Bye for now!

Show links:

• Rise of the Just in Time Compliance

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, I want to continue the conversation with you about where people get stuck with compliance, and I have a couple of case studies for you to illustrate how this happens. I also want to show you what to do if this happens and, more specifically, what you can do if your bank application or partnership requisition application, or RFP application gets rejected. The obvious question would be, can I reverse it? Can I go back to them in a few months? And what can I do to make it better next time? Before we discuss this, I want to look at the bigger picture and why these things happened in the first place so that you can better understand the context before we go into details and specific examples.

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

Today's episode:

• [00:34] Hey guys, I'm back!
• [01:49] Compliance people and everyone who works with laws and regulations sometimes think their jobs depend on how much they know.
• [02:42] The craziest idea ever is to depend on your technical skills in career progress.
• [04:12] In one case, I wanted to share a bank account application and discuss why they didn't get approved.
• [06:59] This company operates in some of the emerging markets, so they are potentially risky.
• [09:30] It's a question of a compelling story.
• [10:37] If you have found yourself in this situation, go back to whoever rejected your application and let them know you are updating your proposal.
• [13:14] Hope this helps, and goodbye for now!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, I want to discuss the main differences between an amateur and a compliance pro. I can't keep this silent and polite and be politically correct because I feel the need to rant about all kinds of mistakes, behaviors, and wrong attitudes that amateurs display. I want you to recognize these actions, and if you catch yourself doing some of the ones that I am going to mention, just think about it more and stop doing them. Because I have worked with junior and experienced compliance officers, I feel like I have seen it all. Listen and see if you recognize any of these behaviors, attitudes, or mistakes in yourself or the people around you.

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!
• [02:00] Today, Yana focuses on the lies and misconceptions that she wants people to stop doing.
• [04:29] Stop doing the exercise that lists all the rules, regulations, and laws that apply to you or your case.
• [06:47] Another mistake armature's make is saying they don't know enough and don't want to get something wrong.
• [09:11] This is a terrible mistake because you are delaying everybody else and spending the company's money for no good reason at all.
• [11:50] Never assume that technology is smarter than you, so, therefore, you can't challenge it.
• [13:30] The biggest objection people have around this attitude is that if they act on the information they have now, they could jeopardize their company.
• [15:43] How do we break the bad habit of procrastination in compliance?
• [17:43] Thank you for listening, and don't take anything too seriously!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, we discuss internal auditors and why you shouldn't hate them. People sometimes perceive internal auditors as useless, time-wasting, police playing, and always inflating problems while not being an expert in any particular field but still telling everyone else what to do. When I worked at Amazon, they loved their internal auditors; they wanted them to come and give the team an outside perspective with the best interest of the team and Amazon in mind. So listen as I give both sides of the argument about internal auditors and why you shouldn't hate them.

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!
• [02:53] At Amazon, the internal auditors would come and give the team an outside perspective.
• [04:07] When you audit a function, and you don't have experts on your team, you have someone from a different function join the audit.
• [06:40] Internal audits always start with risk assessment.
• [07:31] The idea of internal audits is to help the organization fix urgent things that need to be fixed for them to go forward.
• [09:46] Listen, as Yana shares how she would like internal auditors to understand the risks involved by asking people.
• [12:09] After you really understand the issues, you try to prioritize and develop an audit plan.
• [15:15] Yana recommends that a startup have three to five dates per year.
• [17:42] Yana prefers when the outcome of an internal audit is very specific and says something.
• [20:15] If your internal auditor is only interested in you following your policy, then she would suggest you fire them.
• [21:36] Thank you for listening!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, we are going to talk about FATCA and CRS for FinTech dummies. Yana decided to record this episode not because she thinks FinTechs or her listeners are dummies, but to make sure that you feel the content is easy to digest and not too overwhelming. Yana talks about how you might face decisions around FATCA and CRS and the categories that a FinTech might fall in, and which ones require them to do the FATCA and CRS paperwork.

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!
• [01:36] Yana discusses two instances when you might have to make decisions around FATCA and CRS.
• [04:02] Yana says it's not about whether you have US customers, it's about whether you take deposits and need to report US taxpayers.
• [06:54] Many FinTechs that Yana knows limit the deposit size or withdraw the money by the end of the year, so they don't have to do the paperwork.
• [07:42] Yana talks about being a customer and the most relevant categories of FATCA for FinTech startups.
• [09:51] Yana discusses an accepted non-financial startup company.
• [11:48] You could also be compliant for a financial entity if you qualify for some of the exemptions.
• [12:48] The main idea for this categorization is to never end up as a non-participating financial entity.
• [14:48] Does CRS apply to FinTech companies?
• [16:57] Yana talks about exemptions and how that applies to FinTechs.
• [18:33] Balances under 50,000 Euros are normally not reportable for CRS purposes.
• [19:14] Thank you for listening!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, Yana wants to discuss a topic that she feels everyone should know the answer for, but apparently, they don't. Yana is talking about a situation where your customer reaches out and wants you to erase their data because they don't want to do business with you anymore. Yana shares some background and framework on the right to be forgotten and how it came about. Yana discusses the contexts where the right to be forgotten can be used and when it's not appropriate.

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!
• [01:22] Should you erase someone's data?
• [02:28] Yana shares a story around the right to be forgotten.
• [04:29] Yana talks about how Google made information available but wasn't the source.
• [06:42] Yana discusses the financial data banks have to collect.
• [08:30] Yana shares what is important to understand about data protection and privacy laws.
• [11:08] People have a right to know the data you keep on them and that it is kept up-to-date.
• [13:14] You may have information on the customer that could be considered in suspicious activities.
• [14:47] Thank you for listening!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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In this Compliance That Makes Sense episode, Yana talks about where to find FinTech board members and how to pay them. FinTech startups often struggle to try to find the right board members. There seems to be some confusion about who they should be, how much you can expect from them, and what their fees should be. Listen as Yana breaks it all down for you, from who needs a board of directors to the difference between the executive board and the supervisory or independent board and so much more.

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!
• [02:49] Yana shares who is on the executive board.
• [04:04] The commercial law of your country will determine who and what should be on the board.
• [04:33] Yana speaks about the supervisory or independent board.
• [06:14] The supervisory board does not need to consist of all independent directors.
• [08:40] Yana shares some examples of whom to ask to be on your board.
• [11:13] In an emergency, you need people who will be available to you.
• [13:12] How much should you pay board members, and how should you structure the compensation?
• [15:22] Typically, you don't need to pay independent directors that work for your parent company.
• [16:33] Thank you for listening!

Show links:

• Interested in FinTech compliance - consider investing into 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.

• Download the free template of the Directorship Service Agreement here.

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On this Compliance That Makes Sense episode, Yana is talking today about FinTech and Value Added Tax. Many Fintech companies in Europe and other places where there is an equivalent of the VAT ask her to confirm that Crypto and FinTech businesses are exempt. If you need a quick answer, it would be almost, but there is one big exemption. Often, a FinTech company has a hybrid model or company; the fees they charge are exempt, but some fees, payments, and revenue-generating activities could be subject to VAT. Listen as Yana shares how to know what is and what isn't exempt.

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!
• [02:13] It is normal for many FinTech companies to have hybrid models where they charge exempt fees.
• [04:12] There are a lot of mixed hybrid events that might happen.
• [05:19] It isn't uncommon to see regulatory requests for cryptocurrency-focused businesses to be split and have two legal entities.
• [07:24] Yana offers some thoughts and ideas about how to go about thinking about these issues.
• [10:18] You also need to think about both entities and which will have direct contact with the customers.
• [11:25] There are no particular right or wrong answers to these questions.
• [11:46] Thank you for listening!

Show links:

• Interested in FinTech compliance - consider investing into 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.

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Yana shares her take on what is happening with the GameStop saga during January 2021 and why she believes that Robinhood actually did the right thing, even though their communication was hard to understand. Yana speaks about what she thinks happened based on the news and reports she had read along with her educated guess, 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, my friends!
• [01:39] GameStop is a video game store that struggled through 2020.
• [02:31] Shares have been shorted by hedge funds.
• [03:53] Buyers used the Robinhood app to drive the price up, called a short squeeze.
• [05:30] Listen as Yana speaks about what has been happening and the restrictions imposed.
• [08:02] At the end of the day, GameStop's shares peaked around $400 a share then fell back to almost pre-hype levels.
• [09:57] Yana discusses where she wanted to go with this story and offers her perspective on whether this was market manipulation or insider trading.
• [12:45] Is Reddit to blame for anything?
• [15:00] Yana wants to argue that Robinhood did the right thing.
• [17:55] Yana believes there will be a broader demand for bitcoin payment options, different partnerships, and emerging non-banking solutions.
• [19:37] Thank you for listening!

Show links:

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

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Today Yana is going to share the pros and cons and different approaches to buying an already established FinTech company versus starting a new one and applying for your own license. Yana is in the middle of a project that actually involved both, so she feels she has a unique view on comparing the results and efforts. Listen as Yana describes the main advantage and disadvantage of buying a licensed company, 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!
• [01:50] The first advantage of buying a licensed company is that you can continue operating the business.
• [02:46] Yana shares the major disadvantage of buying a licensed company.
• [04:01] Can you explain what happens when you buy a business/company?
• [05:48] Yana speaks about an acquisition scenario.
• [08:00] You may not always know what they include in the scope when you buy in a different country.
• [09:51] Another important change you need to discuss the purchase with your bank.
• [11:50] Yana speaks about how the change in control is getting approved by the regulators.
• [13:01] There is almost always a need to submit a new regulatory plan with one important exemption.
• [16:14] Yana shares some examples of what she has been discussing around purchasing financial institutions.
• [20:01] Yana discusses the last argument or idea she would like to share.
• [22:48] Thank you for listening!

Show links:

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

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Why should global FinTechs have a licensed European entity? Listen as Yana discusses why she believes FinTechs should consider having a European license and a European-based entity. Europe is a very large market and has a relatively high GDP per capita, which translates into higher disposable income and higher spending power. The European regulatory approach is one of the most FinTech friendly regimes globally. Yana talks about why this is beneficial, 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!
• [00:48] I am recording this on my terrace in Costa Rica, so if you hear animal sounds, you will know why.
• [02:08] Yana shares why having a European license is a good idea.
• [02:38] European regulatory approach is one of the most Crypto friendly and FinTech friendly regimes globally.
• [05:17] The biggest friction point for FinTechs is how to ramp on or ramp off services.
• [07:43] If local payment solutions are important for you, you need to solve this by being licensed in Europe.
• [08:13] Yana believes that if your service relies on payment with credit cards, you need to be licensed in Europe.
• [11:02] Thank you for listening!

Show links:

• Want to know what it would take to get your FinTech license? - Join my FinTech Licensing workshop and find out!

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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!

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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

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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

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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

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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

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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.

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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

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"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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Do you think that Stablecoins are E-money? Listen, as Yana discusses what E-money and Stablecoins are and how they are used. Yana explains how most stablecoins do not meet the requirements to be called E-money and the difference between issuing E-money versus using and accepting E-money. Yana is hoping this conversation will clarify what E-money is and how Stablecoins may or may not be considered E-money, plus much more on this Compliance That Makes Sense episode.

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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 welcome back!
• [01:22] Yana shares her new favorite activity.
• [03:19] Yana believes that all compliance professionals should use the rules of shooting a gun daily.
• [04:42] Yana shares the definition of what E-money is.
• [06:56] Yana discusses how most stablecoins do not meet the requirements of E-money.
• [08:21] She speaks about another reason stablecoins can't be called E-money.
• [11:01] If you design your product not to meet E-money conditions, does it mean it is safe?
• [12:46] Yana talks about the important distinction between issuing E-money and using and accepting E-money.
• [14:10] Yana discussing paying someone through PayPal.
• [17:05] What makes you an E-money issuer?
• [19:10] Bye for now!

Show links:

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

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Have you heard about the new Crypto regulations that are coming? Yana explains what they are and what they mean for Crypto companies. She believes the regulation will harmonize requirements from country to country with a single regulatory regime that will cover different types of crypto services. Yana shares that half of the regulatory document covers different kinds of stable coins, and she goes into detail about why that is important. Listen as Yana shares some core lessons and takeaways from her reading of the regulatory draft on this episode of Compliance That Makes Sense.

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Today's episode:

• [00:34] Hello, my friends, and welcome back!
• [01:00] Yana explains the new EU-Wide regulations.
• [02:02] The idea of the regulation is to harmonize requirements.
• [03:31] Half of the document is describing different types of stable coins.
• [04:30] Yana discusses significant e-money tokens.
• [06:07] One major takeaway from the document is in crypto custody because until now, there have been no specific requirements.
• [09:03] Yana shares another thing she believes is important to know for the time being.
• [10:42] Yana circles back to the e-money stable coins tokenized asset idea.
• [13:30] Yana expects that most stable coins will be divided into one of two categories.
• [16:30] Yana feels like this will come into force in a year.
• [18:53] Yana hopes this has been helpful. Stay tuned for a future episode continuing this conversation.

Show links:

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

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Are you looking for ways to make more money in compliance? Listen, as Yana discusses how people working in compliance, risk, internal control, or audit professionals who work in FinTech can make more money. Yana shares the pros and cons of three different ways she believes you can make more money as a compliance expert. Changing jobs, becoming an independent board member with another startup, and becoming a paid advisor or a co-founder of a new startup. Listen to Yana's opinions and see if you agree on this episode of Compliance That Makes Sense. 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 welcome back!
• [01:15] Yana shares the first way she believes you can make more money.
• [04:00] They like to believe that the next opportunity will allow them to stay for a long period.
• [05:39] Yana discusses her main objection to changing jobs.
• [07:39] Becoming an independent board member with another startup is the second way you can make more money.
• [11:08] There might be some exposure and liability if you don't have good oversight, but the experience can be a learning opportunity.
• [13:34] Yana believes compliance know-how is not always on the list when looking to grow a startup, you must argue how you can add value.
• [16:24] The third way is to become a paid advisor or co-founder for a new startup and help them grow.
• [17:09] Yana shares the pros and cons of this option.
• [19:56] Yana says that compliance experts don't normally have a lot of free time, making the time count.
• [22:39] Thank you for listening.

Show links:

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

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Have you been thinking about investing in Bitcoin? Listen, as Yana discusses the announcement that PayPal recently made in Europe about their partnership with bitFlyer. Yana also explains what that another announcement means for PayPal customers in the U. S. and how it affects you if you want to buy cryptocurrency. Yana also explained why this announcement is a good thing for PayPal customers interested in getting involved with cryptocurrency but never knew where to start and for the FinTech industry, so listen to her discussion 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, and welcome back!
• [01:15] Two months ago in Europe, Paypal announced that they would partner with bitFlyer.
• [02:43] Yana says that PayPal will not be buying and selling any cryptocurrencies.
• [04:04] Yana explains what will happen if a PayPal customer wants to buy bitcoin.
• [05:30] This is good news because many customers of PayPal will now be able to hold bitcoin inside of their account.
• [06:31] It's limited news because the only way to sell what you buy from PayPal, you can only sell back to them.
• [07:02] This also applies to deposits and withdrawals of bitcoins.
• [08:22] Yana speaks about the limits per day, per month, and per year that PayPal has issued.
• [09:57] Are smaller players going to be squeezed out by larger players? Or is there still room for smaller companies?
• [12:07] Yana discusses the statement PayPal has made that through PayPal, their merchants will accept bitcoin for merchant transactions.
• [13:53] Yana talks about how this is a huge opportunity for the FinTech industry.
• [15:38] Thank you for listening!

Show links:

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

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Do you know what CBDC is? Listen as Yana discusses what has happened recently in the CBDC space, what the powers that be have determined, and whether cash would still be distributed. Yana speaks about the issues the CBDC and international authorities have with distributing digital money, the need for some kind of stable coin that will allow people to pay and get paid instantly, and what it would mean for FinTech. Yana has great insight into this issue, so listen to her discussion 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, and welcome back!
• [01:28] Listen as Yana shares what has happened recently in CBDC.
• [03:50] Yana speaks about the issues governments had getting money to people during the pandemic.
• [05:55] Central Banks and other international authorities don't like cash payments because they're a heavy operation to manage.
• [07:05] Yana shares its biggest issue with giving people digital money.
• [10:11] Yana explains what this means for FinTech.
• [13:16] Yana believes that regulatory attention to stable coins will grow, and she will expand on it in a different episode.
• [13:53] Thank you for listening!

Show links:

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

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Are you hesitant to hire a compliance expert because you are not sure if you need one? Listen as Yana discusses when it's time to hire a compliance person into your FinTech team and what happens if you unnecessarily delay this decision. Hiring someone from your team that is not a compliance expert to write compliance documents takes forever, can make your company look immature and cause delays. Hiring a compliance expert can keep your company from making mistakes that can potentially get you in trouble and 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, and welcome back!
• [01:38] Yana speaks about the most common issue she sees happening with startups.
• [03:45] One of the common mistakes she sees a lot is using marketing slang and doesn't describe details in the way it is expected.
• [04:55] Another strategy that isn't working is to just do nothing about hiring compliance professionals.
• [06:31] Hiring consultants instead of a compliance expert is expensive and slow.
• [08:42] Yana says hiring a big four is not a safe bet if you want speed and progress.
• [10:08] Is crowdsourcing information a good way to bypass hiring a compliance expert?
• [12:13] Yana recommends hiring a compliance person when you have to do it by law or if you aren't required by law, but you regularly need to submit documents to others.
• [13:43] It's necessary to hire a compliance expert if you have 20 or more active customers at any given time.
• [15:17] Thank you for listening!

Show links:

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

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Do you know what constitutes reputational risk? In this episode of Compliance That Makes Sense, Yana discusses reputational risk, and she believes her view on this topic might not be very popular. Listen, as Yana shares some examples she has seen and some examples of what others might call reputational risk, but she disagrees with them. At the end of the episode, she plans to give some clarity on both spectrums, so sit back and listen to Yana's insights and see if you agree with her take on reputational risk.

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!
• [01:22] Yana defines what she believes is a true reputational risk.
• [04:21] She also gives an example of what she doesn't believe is reputational risk.
• [04:33] Yana shares some potential reputational risks some companies make.
• [06:08] Yana speaks about the point she is trying to make.
• [07:35] What about controversial figures? Yana shares her views on this question.
• [09:41] Listen as Yana gives an example of what she doesn't believe is reputational risk, but others do.
• [13:13] If you look at Yana's example from a purely legal perspective, all the people violated their financial provider's terms, but the intention was good.
• [15:17] Reputation is something that may have a long-term impact, negative or positive.
• [17:22] Yana thinks in the absence of the profound and clearly defined reputational risk; the moral and ethical consideration is personal.
• [18:16] The first question a compliance person should ask themselves is whether this is legal.
• [19:33] See you next week, bye for now!

Show links:

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

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Today Yana discusses why she believes that compliance professionals are paid less than other people in the company. Often, compliance is put in a category with things you must do because the government requires it, like paying taxes. It then puts the burden on the compliance officers to prove their value and how they can add to the company's bottom line. Listen as Yana shares how she priced her services and showed her value when she got into 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:

• [00:34] Hello everyone, and welcome back!
• [01:24] Yana believes that companies often pay compliance people less, and she shares why.
• [02:13] It's hard to quantify how much value compliance adds.
• [03:46] You end up triggering different incentives and logic about compliance if you try to compare it to something people have to do, like paying taxes.
• [04:33] Yana discusses how she priced her services when she got into compliance.
• [05:39] Yana shares an example of how she can quantify her value with the company.
• [07:35] Bye for now!

Show links:

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

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"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.

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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.