054 - How Compliance Makes Up Problems

<p><span style="font-weight: 400;">There are hundreds of cases in the field of compliance where people create problems for themselves, when, in reality, those problems do not exist! In today’s episode, I’m going to talk you through three of the common fears around compliance in FinTech companies, and why these fears are unfounded.</span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:56] How I have structured today’s episode. </span></p> <p><span style="font-weight: 400;">[01:32] Problem number one: How do we decide whether or not we need articles of incorporation or association? </span></p> <p><span style="font-weight: 400;">[02:13] Why companies collect verification about their customs.  </span></p> <p><span style="font-weight: 400;">[04:20] Circumstances under which you don’t need to collect articles of incorporation or association. </span></p> <p><span style="font-weight: 400;">[05:48] A question I was recently asked by a client about data retention.  </span></p> <p><span style="font-weight: 400;">[06:50] Why a company may decide to keep customer information for a period longer than five years. </span></p> <p><span style="font-weight: 400;">[08:02] Unrealistic fears that compliance officers have around keeping customer information. </span></p> <p><span style="font-weight: 400;">[09:46] Dealing with risk categorization in Euro