It’s not news that compliance is complex. In terms of regulatory frameworks, financial services is arguably among the most complicated industries for startups to navigate – which is part of the reason disruption is such a slow process. In the US, requirements that financial services comply to local state as well as federal regulation are an example of why the region is an even more challenging place to innovate.
Barrie VanBrackle is a partner and payments specialist at Manatt, Phelps & Phillips. Speaking during an interview in the Finetics™ Studio at Money20/20 in Las Vegas, she drills down into some of the key regulatory pain points innovators face in payments, talks about how incumbents and disruptors approach compliance and shares her thoughts on what’s next in payments.
“I am seeing a dichotomy where a newer company might say they are willing to press the bar on regulation especially in a grey area, while a more established company is likely to be less interested in being scrutinised any more intently than they already are, so they’d rather not push the boundary.”
For more insight balancing compliance and regulation with innovation, check out the Finetics blog for interviews with The Bancorp head of AML and sanctions risk Pawneet Abramowski, EPA director general Tony Craddock, The Bancorp COO & EVP Gail Ball & Hyperwallet CEO Brent Warrington.
BELLIN CEO and founder Martin Bellin visits the international music publishing and rights managing company BMG at their Berlin headquarters to talk treasury and interview treasurer Swen Scholz, with a focus on the company’s extensive netting practice.
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