Compliance as a strength – and why it matters

Sonect just received its e-money license from the National Bank of Lithuania, which enables the company to offer its services all over Europe – creating the opportunity to scale in new markets. But with great opportunities come high risks. Over the last couple of years, the scrutiny from regulators all over Europe has been rising. Hence, coping with topics around compliance is crucial – especially for companies operating in the financial sector.

Recently, some of Europe’s most prominent FinTech companies had to experience this looming presence first hand. As for Sonect, the company is aware that the trust from partners and clients alike is one of its most important assets. For that exact reason, and in order to stay ahead of the curve, Sonect decided to bring yet another compliance expert on board. However, finding a competent expert with deep understanding and decades of experience in the fields of anti-money Laundering (AML), counter-terrorist financing (CFT) or fraud, in relation with cash management is not an easy task.

 

 

With Alexandre Pinot, Sonect managed to find the perfect match. Alex is well-respected in the industry for his knowledge around AML and CFT compliance as a certified instructor from ACAMS (The Association of Certified Anti-Money Laundering Specialists). He is presenting today, on the 12th of June, at the ACAMS Europe Conference in Berlin.
Sonect is creating a global virtual ATM network, which naturally implies that cash is tied to its core product. Therefore, Alex’s long-standing background in various compliance positions around Europe at Western Union, one of the cash-heaviest businesses, hugely benefits Sonect. Furthermore, as ex-Head of AML & MLRO at Simplex, a global FinTech focused on fraud-free payment processing, Alex also perfectly understands the risks and needs around digital payments.

As Sonect is becoming a leading FinTech in Europe, the company continuously puts great value in staying compliant with all regulations and being a trustworthy partner to banks, retailers, and clients alike. Alex will be based in Sonect’s European Headquarters in Vilnius.