7 benefits fintechs can gain from Fourthline’s KYC and AML compliance solutions

The fintech industry knows the “Seneca effect” all too well. From cryptocurrency businesses to payment service providers and neobanks, there have been numerous examples over the past decade. After a period of steady growth, organizations have gone downhill or had to stop operating in certain jurisdictions. The number one reason? Regulatory failures. 

However, oversight authorities in Europe don’t plan to loosen their controls. Just the opposite. After cases like Wirecard, the calls for stricter regulation are getting louder. Already, new frameworks are in the works or scheduled for enforcement in the short term. As such, fintechs must be prepared for greater regulatory scrutiny.