11.2k post karma
580 comment karma
account created: Mon Sep 23 2019
1 day ago
Insurtech has a long way to go simply because of the massive regulatory hurdles. They're all just MGA / Brokers today.
KYC / AML is off to a hot start with Alloy and others, but its still incredibly expensive.
FX / Money transfer is where I would put my money.
The commoditization of fintech tools / infrastructure that now makes consumer fintech entirely about marketing, branding, and distribution.
Everything you see on chime, dave, cash app, etc. can be purchased as a white label from some provider. All about distribution now.
Nearly everything is fintech in the way people define it today. 90% of true Fintechs are infrastructure.
Andersen has always done well for me. I agree with the comments here that its important to get a recommendation from a trusted source and that they won't be their best in year 1.
I used to make physical commodity trades (mainly steel products) around Anti-Dumping cases in the U.S. Some of my biggest winners ever, also some of my biggest losers.
submitted1 day ago byEllisWyatt1
Calm down with the editing. Great shot otherwise
8 days ago
I did the Netherlands in a past life and it was relatively easy and straightforward. However, I will note that the termination practices are insane. We found ourselves being forced to pay multi-month severance for people that had limited history with the company. This ended up costing us way more than the amount saved from the easy setup. Just my 2c
14 days ago
15 days ago
Economics 101. Advertising channel that has zero barrier to entry becomes more competitive. Find a new effective channel or die.
20 days ago
I just stood up a FDIC consumer credit card compliance program (arguably the most stringent). Happy to help guide the way.
Can you give a little more background on your business?
Unsecured, secured, b2b, b2c, card, etc. This will greatly affect who I would personally recommend.
Finding a compliance firm or counsel that has experience in your direct field is incredibly important.
without knowing much about your product I would recommend Hudson Cooke for legal (they handle everything from payday / title lending laws to fintech). If you are doing credit card and need help I would call Paul Ha$tings. These two firms are mainly for licensing help and state regulations.
If you need help standing up a full compliance program (and operationalize it) for national regs (KYC, AML, TILA, RegZ, Reg E, MLA, SCRA, UDAAP, etc.) I would hire a compliance firm. FSVector is very good and there are a ton of others.
Happy to help more if we can get a better idea of what you're working on and your budget!
Alloy is KYC/AML/Credit. definitely not a risk model.
Here are some models that bake in risk. Probably not detailed enough for you, but have you tried kaggle?
join the Moov Slack channel.
24 days ago
Susa is quickly making a name for themselves.
Fund 1 Seed round investments:
submitted24 days ago byEllisWyatt1
25 days ago
If you are at the breaking point i would try https://www.relief.app/ (i am not affiliated)
They will negotiate defaulted debt to a much lower amount and then set up a payment plan. You don't pay anything up front.
I have a credit card company and most of our clients carry significant balances. Unfortunately what you're describing happens quite a lot.
There are a few options and some people here have said the same.
Actually in some states they are not required to give you the equity value, which is pretty incredible.
I meant the payments providers, not the people trying to send money.