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Fintech innovators, are you confident in your compliance processes? In an era where regulatory scrutiny is tightening and consent orders are on the rise, it's crucial for fintechs to ask themselves this question. As you navigate partnerships with banks, robust due diligence is non-negotiable. Do you have comprehensive compliance frameworks? Meticulous documentation? A deep understanding of regulatory requirements? Now is the time to ensure your house is in order. Don't wait for scrutiny to catch you off guard—be proactive and confident in your compliance stance. #FintechCompliance #DueDiligence
PayFac as a Service
Lately, everybody talks about and offers 'PayFac as a service' and encourages everyone to start operating as a Payment Facilitator (PayFac). PayFac is the model behind FinTech’s biggest successes, from Shopify to Uber, so it's a critical but often misunderstood topic.
Before you jump right into it, there are several key factors to consider, and various potential risks to be wary of:
1.) Liability: PayFacs must adhere to strict regulatory standards, such as the Payment Card Industry Data Security Standard (PCI DSS), local financial regulations, and anti-money laundering (AML) laws. You need to understand what the responsibility of your provider is, how they meet these legal requirements, and what tasks are shifted to your operation.
2.) Risk: As a PayFac, you assume a greater level of risk for transactions processed through your platform, including chargebacks and fraud. Risk management tools and support offered by the service provider can And mitigate these risks, but the majority of the headache is still on you.
3.) Integration: Integrating payment processing capabilities can be complex. Consider the technical support and integration assistance the service provider offers. Ensure their systems are compatible with your existing infrastructure and budget for the lengthy development that needs to be added to your roadmap. Unexpected issues usually arise during implementation, which can extend time and cost spent on the project.
For more info and furhter points, read my full article about the subject on LinkedIn: https://www.linkedin.com/pulse/payfac-service-viktoria-soltesz-m2a3f/
Lately, everybody talks about and offers 'PayFac as a service' and encourages everyone to start operating as a Payment Facilitator (PayFac). PayFac is the model behind FinTech’s biggest successes, from Shopify to Uber, so it's a critical but often misunderstood topic.
Before you jump right into it, there are several key factors to consider, and various potential risks to be wary of:
1.) Liability: PayFacs must adhere to strict regulatory standards, such as the Payment Card Industry Data Security Standard (PCI DSS), local financial regulations, and anti-money laundering (AML) laws. You need to understand what the responsibility of your provider is, how they meet these legal requirements, and what tasks are shifted to your operation.
2.) Risk: As a PayFac, you assume a greater level of risk for transactions processed through your platform, including chargebacks and fraud. Risk management tools and support offered by the service provider can And mitigate these risks, but the majority of the headache is still on you.
3.) Integration: Integrating payment processing capabilities can be complex. Consider the technical support and integration assistance the service provider offers. Ensure their systems are compatible with your existing infrastructure and budget for the lengthy development that needs to be added to your roadmap. Unexpected issues usually arise during implementation, which can extend time and cost spent on the project.
For more info and furhter points, read my full article about the subject on LinkedIn: https://www.linkedin.com/pulse/payfac-service-viktoria-soltesz-m2a3f/
PayFac as a Service
Lately, LinkedIn is full of articles and offers about 'PayFac as a service' and encourages everyone to start operating as a Payment Facilitator (Pa...
Seven years ago I started FinTech Connector as a meet-up group at a bar Hurley's by Morgan Stanley's corporate office to bring together financial services executives to connect with fintech entrepreneurs to help each other.
The executives and experts wanted to get involved and learn about fintech.
The entrepreneurs needed help finding partners, investors, and expertise.
Today, I continue to passionately bring together executives, experts, and entrepreneurs through our global, online platform that hosts over 4,600 members from 125 countries that are connecting, collaborating, and creating financial services innovation.
I want to thank all of our members that continue on this journey to connect the fintech world.
More importantly, I want to thank our investors, Premier members, and Pro members that are helping me financially to keep FinTech Connector going.
Without your support we wouldn't be where we are today!
Check out the picture from our first meet up at Hurley's in NYC back in 2017
Enjoy....
The executives and experts wanted to get involved and learn about fintech.
The entrepreneurs needed help finding partners, investors, and expertise.
Today, I continue to passionately bring together executives, experts, and entrepreneurs through our global, online platform that hosts over 4,600 members from 125 countries that are connecting, collaborating, and creating financial services innovation.
I want to thank all of our members that continue on this journey to connect the fintech world.
More importantly, I want to thank our investors, Premier members, and Pro members that are helping me financially to keep FinTech Connector going.
Without your support we wouldn't be where we are today!
Check out the picture from our first meet up at Hurley's in NYC back in 2017
Enjoy....
4 comments
Angel L.
May 8, 2024 -10:22AM
Check out our Hurley's pic - Rashid Mayes Kent Wallgren Ryohei Uetani Chen Yong Cher
Nate D.
May 2, 2024 -11:08PM
Thanks for doing this Angel Lorente! I'm new to this platform but am very happy about what you built in seven years. It's impressive!
Rebecca K.
May 1, 2024 -10:55AM (edited)
A big Thank You for creating the group as it has been fantastic for me personally.
Lee R.
May 1, 2024 -10:03AM
Love this Angel Lorente! What a journey! I look forward to meeting you in a few weeks - Tech Week has a lot of FinTech events!
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Master C.
Jan 8, 2023
We are looking for the best of the best from our members to join our Premier Master Enabler Program. Focusing right now on International Expansion and New Market Entry professionals for Europe, Latin America, and the USA. Interested in learning more message Master Connector here or email - masterenabler@fintechconnector.com
Upvoted by Johannes and 11 others
Upvoted by 12
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Master C.
Aug 9, 2022
Meet our FinTech Connector Switzerland Cruise sponsors on September 9th in Zurich.
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Upvoted by Greg and 8 others
Upvoted by 9
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Master C.
Jun 17, 2022
As the global economic environment is shifting, now more than ever partnering with the right organizations to increase business opportunities, focus on revenue growth, and drive innovation is critically important.
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
Upvoted by Brian and 4 others
Upvoted by 5
3 comments
Angel L.
Jan 11, 2023
I wrote an article that highlights the opportunities and challenges of digital transformation in banking and covers points on having a well-thought-out plan, organizational culture, and how to get started with partners that have done it already.
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Upvoted by Ridham and 14 others
Upvoted by 15
3 comments
Stephen W.
Mar 18, 2022
See our recent WealthTech 2022 report for a range of viewpoints and thinking on the main trends for WealthTech in 2021/2022.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
Upvoted by Diego and 7 others
Upvoted by 8
4 comments
Luisa F.
Mar 7, 2024
Hello Fintech Connector Community! I have a bank client looking for fintechs that are interested in bank sponsorship. If you're in the market for a bank sponsor, please message me.
Upvoted by Stuart and 2 others
Upvoted by 3
6 comments
Angel L.
Apr 17, 2022
Another powerful report from FIS on global payments. This is a 156-report that gives you global payments trends, key insights, and other important ecosystem information.
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
Upvoted by Michelle A. and 7 others
Upvoted by 8
5 comments
Master C.
Oct 5, 2022
Great seeing our Mexico Community Partner Sofia Gamboa on El Financiero Factor Fintec speaking with Sergio Loredo about fintech in Mexico.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Upvoted by Alfonso and 8 others
Upvoted by 9
5 comments
Master C.
May 13, 2022
SWITZERLAND IS CALLING ALL FINTECH CONNECTOR MEMBERS...
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Upvoted by Victor and 7 others
Upvoted by 8
2 comments
Angel L.
Nov 11, 2022
Great to see how we have come a long way since our Meet Ups at Hurley's in NYC to now travelling the world to connect people, opportunities, and capital. Looking forward to our 2023 FinTech Connector events being announced shortly.
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Upvoted by Vikas and 12 others
Upvoted by 13
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