After completing this workshop you will have a crystal clear plan for approaching banking partners and will know exactly what to expect, what to say, and what to submit as a part of your application, how to complete regulatory due diligence, and even how to reverse the previous rejection.
Most FinTechs unfortunately believe that in order to open a bank account you simply need to answer all questions and provide all attachments, and nothing can be further from the truth. If you do it and just honestly answer all questions, you will either get rejected or will have to go through 20 iterations of questions and answers without understanding why the other side does not seam to understand your explanations.
Instead, your goal should be to find the appropriate places within your submission and implant specific answers and examples illustrating why your business is not risky, why your team is credible and how you meet the hidden and never articulated expectations of your reviewer that they never actually told you about.
This Offer Includes:
- Pre-recorded workshop (see the agenda below) covering the most common mistakes and misunderstandings that happen during bank account opening processes and how to avoid them
- A downloadable workbook with checklists, examples of commonly required disclosures, and sample language to use in your answers
- Sample AML/CTF Risk Assessment, examples of the flows of funds diagram, and other common disclosure templates
AGENDA
- Before you go to the bank
- Company name
- Trade Register information
- Website content
- Standard documentation package (checklist included)
- documents needed and the level of details required
- is it possible to substitute one document for another
- List of FinTech-friendly banks and their expectations
- How to approach the bank and prepare your documentation
- How to describe your business model and risks (examples included)
- How to prepare your flows of funds (examples included)
- How to explain your sources of funds (examples included)
- How to answer due diligence questions during your application review
- Style, formatting, attachments
- How to address the fact that you operate in a riskier industry/segment or with high-risk countries
- How to reverse the (initial) rejection
Logistics: After you have made the payment, you will be granted access to the password-protected area of the course portal where all recorded content and templates will be delivered to you. You will be prompted to create your login and password which you will need to access the program recordings at any time in the future.
This offer is non-refundable as soon as you accessed it.
About your instructor:
After years of experience gained with Amazon and PayPal, Yana Afanasieva became an entrepreneur on a mission to showcase how compliance can operate as an agile and scalable function within FinTech. Yana advises FinTech and Blockchain clients on licensing, payments regulations, AML and KYC automation, privacy, outsourcing, information security, and overall e-commerce and financial services compliance.
Questions? – [email protected]
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