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.