In our new video series, William Mills, CEO of WMA, interviews leading fintech professionals at Finovate to examine the latest technology and advancements in the industry. William sits down with Jas Randhawa, Head of Financial Crimes at Stripe, to discuss the current landscape of financial crimes, trends he's seeing to address these threats, and advice for organizations on protecting themselves and their customers. Highlights from this week's interview include:
- The digital shift brought on by the pandemic brought new challenges that professionals had to quickly address. "The financial crimes community had to innovate fairly rapidly and very quickly to understand all the challenges that the new business and the new opportunity brought to the table," Randhawa shared.
- When asked what more needs to be done to keep financial institutions and their customers better protected, the Stripe leader said, "There needs to be a lot more investment in technology."
- KYC and electronic identity verification are two areas of protection technology that Randhawa believes will help tackle financial crimes in the future, especially as financial institutions become more reliant on digital processes.
- The Stripe Executive ended the conversation by speaking on the importance of being part of a community. He encouraged people to reach across the aisle and to develop a larger financial ecosystem in order to develop as a professional in this space. By creating this community, people across all sectors can benefit from shared knowledge and technological advancements.
Watch below to see the full interview:
Finovate is a research and events firm focused on innovation in financial and banking technology. The team runs the Finovate and FinDEVr conference series and authors the associated blogs. Finovate is the only conference series focused exclusively on showcasing the best and most innovative new financial and banking technologies. Finovate conferences consistently attract large, high-impact audiences of senior financial and banking executives, venture capitalists, press, industry analysts, bloggers, regulators, and entrepreneurs. Finovate's annual events include FinovateFall in New York, FinovateSpring in San Jose, and FinovateEurope in London.