Rev challenges in regulated industries — Frederick Crosby // Nium
- Part 1What is embedded finance? — Frederick Crosby // Nium
- Part 2 Rev challenges in regulated industries — Frederick Crosby // Nium
Show Notes
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01:56Where on the spectrum from light regulation to heavy regulation do companies need to be before they experience revenue challenges?The payments industry, in particular, is heavily regulated. Companies will need to push through to get revenue.
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03:08Are international regulations a hindrance for the fintech industryWith different countries having different financial regulations, a lot needs to be thought through to cover all these different regulations. Companies like Nium exist to help you meet the laws of each country without having additional stress.s
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05:26Does Nium focus on helping companies that don't know what they dont know?For companies looking to expand outside the United States, it can get overwhelming trying to meet all the regulations required by the different markets. Nium makes the process easier, simpler, and quicker.
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06:18What are the minor and major challenges that drive companies to Nium?It can be as simple as trying to establish if you have the right to offer a particular service in a particular country. It can also be as complicated as setting up your FinTech services in a way that meets the laws and regulations in different countries.
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07:40Are there countries that are more complicated than others?China and Brazil are especially difficult, while countries in Europe and parts of Asia are easier to navigate.
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08:55Will blockchain technology unify the global markets in a few years?Cryptocurrency would be effective at unifying the world if the whole world decided to use it as a form of currency. Otherwise, it brings about the issue of double exchange.
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11:23Will capital push us to the point where we have more commonalities in terms of financial regulations between countries?Governments love control, so it might be difficult for them to entirely ease up on laws and regulations. However, in recent years, many governments like China and India have become more flexible.
Quotes
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“Companies could try to figure out the regulations in the United States and maybe get through there. But the next time they start thinking about a global market, which everything is nowadays, they're going to have to replicate that in every place they go. Its better to use a company like Nium to have that all mapped out for you.” Frederick Crosby
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“You know, cryptocurrency would unify global markets if the whole world decides that when they go to the grocery store, they're going to use their cryptocurrency. Otherwise what you've got is another wallet with another amount of money that you constantly need to think about its exchange rate to bring back to the rest of the world.” Frederick Crosby
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“Complexity and challenges provide opportunity.” Frederick Crosby
- Part 1What is embedded finance? — Frederick Crosby // Nium
- Part 2 Rev challenges in regulated industries — Frederick Crosby // Nium
Up Next:
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Part 1What is embedded finance? — Frederick Crosby // Nium
Chief Revenue Officer at Nium, Frederick Crosby explores the growing embedded finance industry. Seamless integration of financial services to your platform can have significant benefits to your users and for your business. Frederick Crosby takes us through some of these advantages and why more businesses need to adopt embedded finance.
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Part 2Rev challenges in regulated industries — Frederick Crosby // Nium
Chief Revenue Officer at Nium, Frederick Crosby explores the financial laws and regulations faced by fintech companies that are growing beyond their home country. Different countries have different rules, and that can be a big obstacle to companies looking to grow globally. Frederick Crosby highlights how Nium can help ease this burden and make the process as seamless as possible
