Fintech Business Podcast Interview: Getting Ledgering Right, With NAYA CEO Sherif Kozman
4 snips
Mar 26, 2025 Sherif Kozman, CEO of Naya, a startup revolutionizing ledgering and compliance in fintech, shares his insights on the challenges of financial reconciliation. He discusses the hurdles fintechs face with legacy systems and the critical need for accurate data synchronization in banking partnerships. Sherif emphasizes the consequences of poor ledgering and offers practical advice for those navigating manual processes. The conversation also touches on Naya's innovative use of AI to enhance transaction accuracy and streamline compliance, shaping the future of financial infrastructure.
AI Snips
Chapters
Transcript
Episode notes
Ledgering Fundamentals
- A ledger isn't just a database, it enforces accounting principles like double-entry and ensures transaction integrity.
- Unlike databases, ledgers prioritize accuracy, consistency, and auditability, crucial for financial institutions.
Synapse's Ledgering Issues
- Synapse's ledgering issues stemmed from discrepancies between their records and the actual funds held by partner banks.
- Synapse tracked individual accounts, but the money resided elsewhere, causing mismatches.
BAS Model Challenges
- BAS models often have fragmented ledgers, causing discrepancies between fintechs, banks, and providers.
- Delayed reconciliation and compliance gaps further complicate matters, leaving banks with the ultimate responsibility.