Compliance That Makes Sense
This is a place where FinTech compliance, regulations and risks are made simple and fun. Your host, Yana Afanasieva, corporate dropout turned entrepreneur, introduces you to pragmatic risk acceptance and agile compliance that scale, challenges financial industry conventional wisdom, and wholeheartedly believes that dashboards and automation often make much better job than humans.
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191 - What Sets Some Immigrants Apart: The Triple Package Theory
11/07/2024
191 - What Sets Some Immigrants Apart: The Triple Package Theory
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 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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190 - Why ECB Hates Bitcoin
10/31/2024
190 - Why ECB Hates Bitcoin
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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189 - Why IP Rights and Patents are Irrelevant and Should Be Abolished
10/24/2024
189 - Why IP Rights and Patents are Irrelevant and Should Be Abolished
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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188 - Politics, Confidence, and Success in Compliance
10/17/2024
188 - Politics, Confidence, and Success in Compliance
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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187 - The Three Most Harmful Addictions: Heroin, Sugar and a Monthly Salary
10/10/2024
187 - The Three Most Harmful Addictions: Heroin, Sugar and a Monthly Salary
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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186 - Cancel Culture vs Darryl Cooper
10/03/2024
186 - Cancel Culture vs Darryl Cooper
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 , 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,’ ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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185 - Setting Goals and Not Achieving Them
09/26/2024
185 - Setting Goals and Not Achieving Them
“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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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184 - The Concept of Nationality and Its Role in Financial Services
09/19/2024
184 - The Concept of Nationality and Its Role in Financial Services
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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183 - Pavel Durov, my Soviet Past, and What Still to Expect in 2024
09/12/2024
183 - Pavel Durov, my Soviet Past, and What Still to Expect in 2024
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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182 - Why MICA Regulation May Be Bad
07/04/2024
182 - Why MICA Regulation May Be Bad
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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181 - Why Fiat Services May Be Riskier Than Crypto
06/27/2024
181 - Why Fiat Services May Be Riskier Than Crypto
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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180 - Why Outdated Risk and Compliance Norms Deepen Financial Inequality
06/20/2024
180 - Why Outdated Risk and Compliance Norms Deepen Financial Inequality
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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179 - GameStop, Reddit, and Market Manipulation 2.0
06/13/2024
179 - GameStop, Reddit, and Market Manipulation 2.0
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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178 - BaaS Providers are in Hot Water: How to Choose the Right One.
06/06/2024
178 - BaaS Providers are in Hot Water: How to Choose the Right One.
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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177 - FinTech Trends 2024: Payment Delinquencies, BNPL Rise, A2A and Instant Payments Push
05/30/2024
177 - FinTech Trends 2024: Payment Delinquencies, BNPL Rise, A2A and Instant Payments Push
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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176 - How to Stop Multitasking and Set Clear Compliance Priorities in FinTech
05/23/2024
176 - How to Stop Multitasking and Set Clear Compliance Priorities in FinTech
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 , 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 () I am holding on June 4th. Show links: Join my masterclass on Setting Compliance Priorities in FinTech ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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175 - FinTech Compliance KPIs and Metrics You Can Control
05/16/2024
175 - FinTech Compliance KPIs and Metrics You Can Control
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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174 - Compliance Performance and Responsibility for Things Outside of Your Control
05/09/2024
174 - Compliance Performance and Responsibility for Things Outside of Your Control
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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173 - SEC vs Uniswap, Pavel Durov with Tucker, and Yana AI
04/25/2024
173 - SEC vs Uniswap, Pavel Durov with Tucker, and Yana AI
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 , 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: Listen to Tucker Carlson’s interview with Pavel Durov: Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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172 - Being Authentic: A Conversation with David Yen About Making Decisions, Education, and Taking Risks
04/18/2024
172 - Being Authentic: A Conversation with David Yen About Making Decisions, Education, and Taking Risks
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 , 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: And if you need a template for the reimbursement letter request asking your company to sponsor this training, and send it to your boss. Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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171 - Mistakes My Clients Made Last Month and How to Move Through Mistakes Faster
04/11/2024
171 - Mistakes My Clients Made Last Month and How to Move Through Mistakes Faster
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 , 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: And if you need a template for the reimbursement letter request asking your company to sponsor this training, and send it to your boss. Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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170 - Using NLP in FinTech Compliance
04/04/2024
170 - Using NLP in FinTech Compliance
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 , 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: And if you need a template for the reimbursement letter request asking your company to sponsor this training, and send it to your boss. Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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169 - “We Have To Do Something” Moments Are Dangerous
03/28/2024
169 - “We Have To Do Something” Moments Are Dangerous
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 , 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 Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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168 - Lisa Carpenter Interviews Yana about Crypto, Women, Technology, Risks, and Life
03/21/2024
168 - Lisa Carpenter Interviews Yana about Crypto, Women, Technology, Risks, and Life
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 , 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 . Listen to Lisa’s Protect Your Energy Private Podcast . Connect with Lisa via . Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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167 - How to Offer Crypto Staking
03/14/2024
167 - How to Offer Crypto Staking
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 , 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 ! Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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166 - Excessively Regulating New Technologies is Bad for Compliance
03/07/2024
166 - Excessively Regulating New Technologies is Bad for Compliance
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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165 - Short-Term vs Long-Term Thinking: The Theory of Wartime and Peacetime CEOs
12/25/2023
165 - Short-Term vs Long-Term Thinking: The Theory of Wartime and Peacetime CEOs
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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164 - The Decay of Binance, CZ’s Departure, and the Future of Crypto
12/18/2023
164 - The Decay of Binance, CZ’s Departure, and the Future of Crypto
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 , 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 ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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163 - What To Do When CEO and Compliance Disagree
12/11/2023
163 - What To Do When CEO and Compliance Disagree
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 , 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 Interested in FinTech compliance? - consider investing in the ! I would love to invite you to sign up for my newsletter. If you are interested, please click
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162 - UAE is Stealing Switzerland’s Thunder as the Ultimate Financial Hub
12/04/2023
162 - UAE is Stealing Switzerland’s Thunder as the Ultimate Financial Hub
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 , 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 ! Want more insights about FinTech and Compliance delivered directly to your inbox? Let’s stay in touch! Click .
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