Navigating Vendor Management in Fintech

In this episode, I had the chance to sit down with Neepa Patel, cofounder and CEO of Themis, a compliance collaboration tool for banks and fintechs, on stage at last month’s Empire Fintech Conference in New York. Neepa and I had the chance to talk about:

* What “fintech people” misunderstand about regulators

* What fintechs should think about when selecting a bank partner

* Whether or not tech is (and should be) a competitive differentiator in banking-as-a-service platforms

“Many banks are still utilizing manual controls, processes and even spreadsheets to manage compliance and governance. We've been impressed with Themis’ collaborative and centralized modules to increase efficiency, and reduce complexities and internal costs while helping to streamline compliance controls.”

— Candice Antinori, VP Compliance Management & CRA Officer at FinWise Bank

Themis is a user friendly, collaborative compliance platform to help financial institutions manage complex relationships across internal control groups and to help fintechs’ level up their own governance, risk, and compliance cultures.

The platform provides a centralized compliance collaboration suite of purpose-built workflows and tools that seamlessly integrate risk, communications, documents and so much for internal teams and external partnerships between banks and fintechs. 

With Synapse entering into bankruptcy proceedings in the last few weeks, with knock-on impacts to Evolve Bank and Trust, Lineage, and multiple fintech programs, one could easily be forgiven for thinking fintech categorically is facing a regulatory reckoning. But, current turmoil notwithstanding, the bank-fintech partnership model will endure, with the players that prioritize compliance best suited to navigate the fallout.

Learn more about how Themis banks are Elevating Governance, Risk and Compliance Cultures here.

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