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.