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Will Your Compliance Consultant Stay The Course?

by InnReg

You have many options when looking for compliance support. Some consultants focus on one specific aspect of compliance. InnReg, however, is a full-service provider, able to build and run your entire compliance function. We stay the course, in good times and tough times. And as a result, you reduce your risks and costs.

The Value of True Partnership

Fintechs with unique digital business models face equally unique compliance challenges, everything from crafting a regulatory strategy to planning to making partnership and technology decisions. In many cases, fintechs do not have the internal expertise to carry out those critical upfront tasks. 

A Way to Focus on Your Priorities

All things being equal, an innovator will prefer to focus their team-building efforts on creating and selling their innovative products. Fully staffing a compliance team may not be the ideal choice for allocating resources and budgets.

The world of compliance offers many highly qualified and experienced consultants who can help a fintech innovator address important questions in their compliance planning. Ultimately, however, successful compliance depends on day-to-day, end-to-end operational execution of compliance processes. 

Mitigating Risks

All the good planning in the world will not matter if suspicious activities slip through the cracks, or if a company cannot quickly and appropriately respond to regulatory requests.

How InnReg Works with Clients

InnReg sees risk mitigation as a potential make-or-break for innovators. As a result, we do not simply “pop in” to answer a question or develop an approach. We partner with clients to work through the details:

  • Form strategic and technical partnerships
  • Integrate technologies 
  • Set up workflows
  • Build a compliance function 

Staying the Course, Even When Things Get Tough

InnReg is also able to embed compliance staff into client operations, and even provide licensed professionals to serve as clients’ Chief Compliance Officer. In other words, stand behind our recommendation and we stay the course from implementation to execution.

Download InnReg’s latest white paper, “Fintech Compliance: Full-Stack and Full-Service,” to learn more.

What that means on a day-to-day basis is that we are there with you and for you, even when compliance gets tough. FINRA membership applications, examinations and enforcement actions, examinations of robo-advisors, compliance with SEC rules related to custody and digital assets, AML (Anti-Money Laundering) audits, risk management and potential OFAC (Office of Foreign Assets Control) violations, compliance auditing and assurance — whatever it is, InnReg clients are not left on their own to handle it.

InnReg’s Impact to the Bottom Line

For InnReg, staying the course is a commitment based on our values. For our clients, it has a direct impact on the bottom line as well. A firm can typically outsource their entire compliance function for less than the cost of a department head earning salary, bonus, and benefits.

A firm can also avoid unnecessary costs. InnReg has handled a range of situations, so we know how to do things the right way the first time, sparing our clients the cost of revisiting strategic decisions, replacing unfortunate technology choices, or paying regulatory fines.

Are you looking for compliance support? Whether you see the value of InnReg’s approach in the impact to your balance sheet or in the confidence of working with a partner who fully stands with you by standing behind what we do, we are confident that our commitment will stand you in good stead.

If you have any questions, please be in touch to start the conversation.

The Author

InnReg is a team of over 30 Regulatory Compliance and Innovation Consulting experts helping fintechs succeed in highly regulated markets since 2013. InnReg specializes on mitigating regulatory risk while helping clients launch and grow innovative fintech products and services.

Topics: Compliance Management

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