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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  

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.  

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.

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.

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.

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.  

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.  

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.

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.  

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.

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.

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.  

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.  

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.  

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.   

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.  

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.  

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.  

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  

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.