Financial technology (fintech) companies have captivated the business world. A large number of these firms are seeking to unbundle established financial services by offering innovative products and services that leverage cutting-edge technology to transform the customer experience and drive further innovation into the financial services industry.
Because fintech companies are encroaching more and more in the financial transaction space, regulators are increasing their focus on these types of organizations. This white paper aims to provide important first steps for fintech companies grappling with the difficult transition from technology innovator to regulator-ready financial firm, as well as some advice for traditional financial institutions entering the fintech space via partnerships or through their own incubator companies.