Regardless of the approach fintech companies take to regulated markets—whether becoming a chartered institution or remaining as they are—they can increase their potential for success by having solid risk management controls in place. Given increasing regulatory attention and the need to have controls that enable them to both know and treat customers well, a compliant company may well be more attractive to the public.
That differentiation could open doors to market share and revenue growth. It might also give a level of comfort to a variety of stakeholders, including:
- The consumers the company interacts with
- The company’s board and management
- Analysts (both rating agencies and equity) who value the transparency and risk management practices of companies
- Regulatory organizations that might take interest in the company
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