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How is the FinTech revolution affecting the Corporate Governance space?


Niomi Cowling Financial Services & Corporate Governance, Compliance & Financial Crime, Financial Services and Banking...

Are you interested to find out how the job market is changing under the recent FinTech revolution, and how that affects the Corporate Governance space in Asia?

Are you struggling to decide whether or not to join FinTech industry?

In a recent interview with SK LEE, Chief Compliance Officer at RD Wallet Technologies, we discussed the newest trend in Compliance within the APAC region.

Written by our Compliance specialist Winifred Tsang, we look into the hiring implications this has, and how the labour market is adapting to new technologies and different ways of working brought by challenger banks.

With a rich background in traditional banking, SK now leads the compliance team at a new and exciting FinTech RD Wallet Technologies. Their mission is to address pain points in crossborder
trade through the launch of an innovative payment solution “RD Pay”. 

What is the concern for candidates and why are they tentative about employment at FinTech's?

In this article, we look into the main concerns for candidates when joining a FinTech, and the opportunities of being "first in the pile". He discusses his journey from "a relatively stable and comfortable working environment and salary" at Hang Seng Bank, to join a FinTech start-up where he has been "exposed to new areas of the wider compliance projects that he would not usually get involved in". He also mentions the benefits of having "broader compliance exposure especially in digital payment and virtual banks" that it would not be difficult to get back into a traditional firm. 

What candidates are Fintech companies looking for?

SK Lee also discusses what types of candidates FinTechs are looking for and a mindset of being energetic and agile is important. The need for people to be dynamic is mentioned, and this means able to cope with the fast pace of change and varying workload. 

What's the global outlook for the FinTech market?

As a global business, we asked Will Brown our Head of Corporate Governance in the US to give an outlook on FinTech Compliance. Will's varied experience over 3 continents gives him a well-rounded and well-informed view of the global Compliance market. Will discusses the changing regulatory space, and stricter regulatory environment in the US and how this trend is likely to be seen in Asia too. 

Read the full article here

Thank you very much to all our contributors who have made this such an interesting and thought-provoking piece.

If you are interested to know more about Compliance or FInTech, please speak to our Financial Services team for further discussion.