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Revolut Insider
Ep. 20 Delivering Good Outcomes: how regulatory compliance promotes trust and growth
Jul 25, 2024
Daniel Watkins, the Head of Regulatory Compliance at Revolut, shares invaluable insights from his journey in fintech. He discusses the pivotal role regulatory compliance plays in safeguarding customer funds and building trust. Daniel emphasizes the balance between innovation and regulatory demands, revealing how his team protects over 45 million customers globally. He also sheds light on the entrepreneurial spirit at Revolut, the challenges he has faced, and the creative problem-solving necessary in his role. It's a fascinating look at the bridge between compliance and customer trust.
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Quick takeaways
- Regulatory compliance is crucial for protecting customers and ensuring financial services prioritize good outcomes while managing various risks.
- Customer education fosters informed decision-making, enhancing trust and satisfaction in Revolut's services through accessible resources and tools.
Deep dives
Understanding Regulatory Compliance
The role of regulatory compliance is essential in overseeing how financial services design products and services that prioritize good customer outcomes while mitigating risks. This involves ensuring that customers have access to vital information throughout their journey, from initial interest in a product to its purchase and beyond. Examples include safeguarding customer funds by separating them from the institution's own funds and implementing processes for issues like whistleblowing and conflicts of interest. By maintaining focus on compliance, Revolut aims to protect both its customers and the integrity of its operations across various territories.
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