The more a fintech grows, expanding its marketing, increasing its profile and attracting press attention (both positive and negative), the more likely it is to be exposed to state and federal scrutiny of its compliance status. Non-compliance can quickly lead to huge fines, jail time, and reputational damage. US fintechs have seen an increase in the scrutiny of their compliance status in 2022. If you’re one of the 73 per cent of fintechs without a dedicated compliance officer, now is the time to get an idea of what you need to know.
