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.
Blockchain technology is revolutionising the way we do business allowing treasurers to really add value and commercialise business development. At the Treasury Leaders Summit, Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, has recently implemented a Blockchain PoC into the Port's organisation and supply chain.
Find out how the treasury department at Ferguson (formerly Wolseley), the world's largest trade distributor of plumbing and heating products, was faced with the challenge of building and maintaining a central treasury operation in a decentralized company, and hear about the treasurers’ approach to gaining control through visibility, enabled by the treasury management system tm5.
Get to know the treasury challenge of a post-merger integration and other hot treasury topics like FX management, bank account integration and netting at the newly merged access and security solutions provider dormakaba.
Learn how Gazprom Germania, the German subsidiary of the gas giant Gazprom, has coped with the challenge of integrating subsidiaries from different cultures into one common and transparent TMS.