011 - Why Just A Few FinTech Startups Keep Growing While Others Fail and Run Out of Money?
Release Date: 12/14/2020
Compliance That Makes Sense
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 , select “Ratings...
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info_outline 188 - Politics, Confidence, and Success in ComplianceCompliance That Makes Sense
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,...
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info_outline 186 - Cancel Culture vs Darryl CooperCompliance That Makes Sense
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info_outline 185 - Setting Goals and Not Achieving ThemCompliance That Makes Sense
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info_outline 184 - The Concept of Nationality and Its Role in Financial ServicesCompliance That Makes Sense
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info_outline 183 - Pavel Durov, my Soviet Past, and What Still to Expect in 2024Compliance That Makes Sense
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info_outlineListen 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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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.