Insights: Marriage of Finance and Technology: Impact on AML

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Course Duration: 26 minutes
Course Points: 25

In this video, Guada Vergel de Dios, Head of Compliance and Government Relations, Xendit provides an overview of FinTech, the AML/CFT Risks associated and the current regulatory environment in the FinTech space in Philippines.

Guada discusses the need-driven growth of FinTech industry, and the reasons behind the industry gaining prominence. She also highlights the correlation between increase in the use of FinTech and increase in online fraud and money laundering.

The key points covered in this video are:

  1. History of FinTech
  2. Evolution of FinTech
  3. The current regulatory regime for FinTech in Philippines
  4. Expectations from board and senior management of FIs
  5. Functionalities of FinTech
  6. AML/CFT Risks and typologies associated with the FinTech industry
  7. Approaches used by regulators across the globe to regulate FinTechs

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