Fintech
Third-Party Risk Management in Bank-FinTech Partnerships: Strategies and Insights — Payments Pros – The Payments Law Podcast | Pepe Troutman
In this episode of Payments Pros, Carlin McCrory is joined by Nathan Ottinger, president of Georgia Banking Company’s Payments and Technology banking group. They delve into the current state of the payments market, characterized by increased regulatory scrutiny and rapid innovation. Nathan highlights the importance of well-documented risk management strategies for financial institutions and the need for businesses to secure competent legal advice, particularly in the realm of money.
In this episode of Payments Pros, Carlin McCrory is joined by Nathan Ottinger, president of Georgia Banking Company’s Payments and Technology banking group. They delve into the current state of the payments market, characterized by increased regulatory scrutiny and rapid innovation. Nathan highlights the importance of well-documented risk management strategies for financial institutions and the need for businesses to secure competent legal advice, particularly in the field of money transmission.
Nathan explains how Georgia Banking Company strategically focuses on specific industry segments and payment types, consciously avoiding the allure of the latest trends in bank-fintech partnerships. He emphasizes the importance of cultivating direct client relationships, conducting thorough due diligence during the client onboarding process, and maintaining ongoing portfolio management and oversight.
Discussing payment technology innovations, Nathan highlights tools that improve risk management and streamline processes. He concludes by reiterating the high ethical and regulatory standards required in managing other people’s money, underlining the need for alignment between customer, bank and regulatory requirements. See less-