FinTech is a rapidly growing segment that challenges the traditional financial market and respond to customer demands for mobility, flexibility and innovation. To operate in the financial sector is, however, associated with certain challenges where Fintech companies both need to create confidence in the market and also meet the extensive regulatory requirements.
It is important to know the rules that are applicable to the particular business and how these rules should be interpreted and implemented appropriately.
Unlike other companies in the financial sector, FinTech companies does not need to compromise in the same way in terms of implementation of he regulations. Instead they can develop their business with and according to them. That is, they can establish processes and systems that are best suited for both the customer and the company, thus creating an efficient, secure and transparent operation.
FCG has a comprehensive range of services and products for FinTech companies which include for example:
- Audit of the business with regard to regulatory and industry practices
- Permit application
- Outsourcing of the risk management function
- Outsourcing of the compliance function
- Outsourced reporting to authorities
- Process mapping and operations management
- Development and validation of risk models
- Training of the Board and management
- Ongoing advice and regulatory monitoring
- Benchmarking of processes and models