Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Top Professional and Financial Risks for Fintech Companies
Marsh | Aug 19, 2022
Fintech companies are subject to some of the same consumer and investor protection regulations as traditional financial institutions, but must balance compliance requirements with the need to innovate, grow, and develop new products. Meanwhile, privacy risks and ever-growing cyber challenges can contribute to significant economic loss and reputational damage, straining fintech’s day-to-day operations and threatening the assets of both companies and executives.
As the risks for fintech companies continue to evolve, those that are unable to adapt may face obstacles in their business models. Marsh can help you identify your most pressing challenges and determine the most effective strategy to mitigate and manage your risks.
External Risks
- Investors
- Customers
- Regulators
- Competitors
- Extortionists
Internal Risks
- Employee theft
- Computer crime
- Data breaches
- Technology error & ommissions
Links you may be interested in:
Cato Analysis: SECs Proposed Climate‐risk Disclosure
SWIFT publishes “Follow the Money” report to aid comprehension of money laundering risks underpinning large-scale cyber-heists
New
- IT security, privacy, and cyber risk
- Regulatory and compliance risk
- Consumer class-action & professional services risk
- Intellectual property risk
- M&A risk
- Risk of theft and fraud through electronic and non-electronic means
- Employment practices liability including allegations of third party discrimination against customers or clients
Unique risk profiles require tailored risk management programs
More than other industries, individual fintechs differ extensively depending on their subsector, and require innovative solutions to address their unique risk profiles. For example, a payments platform and a neobank touch different types of customers, hold different amounts of personally identifiable information, and are subject to different regulatory oversight; these distinctions drive varying risk transfer decisions. Thoroughly understanding the individual circumstances of each fintech company is crucial to the development of a suitable risk management and insurance program.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
Support NCFA by Following us on Twitter!Follow @NCFACanada  |
Related Posts
Crowdfunding Platform RocketHub Acquired for $15 Million- He Created the Web. Now He’s Out to Remake the Digital World.
- NEAR Protocol to Shutdown Its Undercollateralized USN Stablecoin | Allocates $40M USN Protection Programme
- Consumer Protection: Fintech Complaints Have Been Rising
- Privacy Implications of an Open Banking System in Canada
- Carbon Tracking Debit Card Startup, Tred, Exceeds Crowdfunding Goal in 10 Minutes
Leave a Reply