Eight reasons bankers and Fintech upstarts are “up at night” about Compliance

The only problem here is that FinTech doesn’t have enough lawyers.

Daily Fintech

Compliance is a big ugly problem and it’s getting worse and nobody has nailed it yet.

That should have entrepreneurs salivating.

Investors say,

“show me compliance deals”.

Bankers say,

“show me a solution”.

Startup founders say,

“we must spend our precious cash on lawyers and regulatory experts”.

Nobody loves compliance. Everybody hates compliance. So it’s a massive opportunity.

Looking at the usual Fintech lists and accelerators, the compliance breakthroughs do not leap out of the pixels. The usual searches turn up lots of lawyers and outsourcing firms willing to throw man hours at the problem, but that hardly counts as a breakthrough solution.

With such huge demand, the lack of supply means that it must be a very hard problem to solve. This needs more than your average app coded in a few Red Bull fueled weeks. This is more like a breakthrough in drug discovery or clean energy –…

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One Comment

  1. Highly regulated fields are not really a good target for entrepreneurs.

    Those who’ve captured the regulators are incentivized to keep the system as byzantine and complex as possible; and regulators bend over backwards to satisfy incumbents’ demands in pursuit of revolving-door salaries.

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