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by InnReg on November 23, 2019

Will Your Compliance Consultant Stay The Course?

Categories: Compliance Management


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, they do not have the internal expertise to carry out those critical upfront tasks. All things being equal, they 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 through pieces of the process. Ultimately, however, compliance succeeds or fails on the basis of day-to-day execution of compliance processes. All the good planning in the world will not matter if suspicious activities can slip through the cracks, or if a company cannot quickly and appropriately respond to regulatory requests.

InnReg sees this 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. Yes, we partner with clients to work through the details of strategic and technical partnerships, help them integrate technologies and set up workflows, but we also guide clients through the process of building a compliance function. InnReg is able to embed compliance staff into client operations, and even provide licensed professionals to serve as clients’ Chief Compliance Officer. In other words, we stay the course and we stand behind our recommendations.

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.

For us, this is a values commitment. But rest assured, 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.

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