Treliant is staffed with former FinTech company executives and practitioners.
FinTech companies face unique challenges as they enter new markets, form partnerships, and navigate a changing regulatory landscape. Now more than ever, they need to have risk and compliance operations in place to satisfy their partners, investors, and state/federal regulatory agencies. We have a history of working with FinTech clients and since we understand this industry, we can tailor risk-based compliance programs to meet the business needs of these innovative companies and their partners.
Treliant has conducted more than 50 Compliance Management System (CMS) and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) reviews for a variety of FinTech clients, representing both lending platforms and their bank partners, and covering both commercial and consumer products.
Marketing Compliance Program
We conducted a focused review of a FinTech company’s compliance program and mitigated risk regarding the marketing of their products and services, e.g., procedures, training materials, manuals and guides.. Our team identified opportunities for enhancement consistent with legal and regulatory requirements, regulatory guidance, and industry best practices.
Compliance Advisory Services
We provided a prominent online FinTech company with ongoing regulatory compliance advisement, including reviewing and providing recommendations on the company's risk assessment, training modules and content, and regulatory compliance tools.
We helped FinTech clients in designing and building policies for compliance, privacy (Regulation P), the Fair Credit Reporting Act (FCRA), complaints, marketing, Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and other requirements.
Treliant can help FinTech companies design and implement any of the top components of an effective Compliance Management System.
- Board and Senior Management Oversight. Ensuring active governance of compliance management.
- Policies and Procedures. Drafting, tracking, and updating compliance policies and procedures.
- Monitoring and Testing. Conducting risk-based compliance monitoring and testing, including fair lending testing to ensure compliance program effectiveness.
- Fair and Responsible Lending. Assessing product risks and performing statistical testing to identify potential discrimination risk arising from disparate treatment or impact.
- Model Validation. Reviewing models and associated policies, procedures, and documentation for consistency with regulatory expectations for model risk management.
- Compliance Training. Educating the board, management, and employees either internally or externally through webinars and conferences.
- Risk Assessments. Identifying compliance risks, evaluating risk controls, and using the results to prioritize compliance resources and adjust compliance programs to meet new and emerging risks, including from third parties.
- Complaint Handling and Oversight. Establishing a formal complaints program, including complaint tracking, monitoring issues, root-cause analysis of complaints, and corrective action.
- Corrective Action. Planning and executing action to correct violations.
- Change Management. Engaging teams to coordinate change, including marketing materials, products, and customer communications/forms/disclosures, including partner advertising.
- Compliance Reporting. Updating the board and executive management regularly on compliance program performance, regulatory issues, and significant metrics.
- Vendor/Partner Management. Developing a formal vendor management policy that identifies, measures, monitors, and controls the risks associated with third-party vendors.
FinTech in the Securities Industry
As FinTechs expand their product offerings and services into the securities industry, Treliant is uniquely positioned to help them grow and expand in a controlled manner. Our services include:
- SEC and state registration of investment advisory (RIAs) and asset management businesses
- RIA compliance program and infrastructure development
- Ongoing compliance support
- Outsourced Chief Compliance Officer (CCO) services
- SEC examination preparedness and annual testing programs
- FINRA membership application process for new broker-dealers
- Compliance program development and ongoing support
- Broker-Dealer AML reviews and testing programs
- Crypto trading and asset management advice and support
- Due diligence on FinTech and RegTech for venture capital and PE firms
Ready to Talk?
Treliant works closely with its clients to understand their needs and design an appropriate work plan and approach to each engagement. Learn more when you connect with our team.