How do companies combat financial crime and adhere to the strict regulations of our industry? Camila Vincenci Witt has unique insight as the Chief Risk and Compliance Officer at Inpay, a fintech specializing in facilitating cross-border payments. Camila shares the importance of data and data governance in compliance and risk, as well as highlighting the significance of leveraging diverse perspectives as a key strength of her team. Join us for this fascinating conversation with Camila! Discussion Highlights: MobilePay and Identity Verification: Camila delves into her experience working with MobilePay, a digital wallet leveraging the Danish Civil Registration System (CPR number) for identity verification, setting the stage for a discussion on the intersection of technology and compliance.InPay's Origins and Cross-Border Payments: We explore the genesis of InPay, born out of a mission to provide relief after the 2008 Myanmar natural disaster, unraveling the intricacies of cross-border payments and the challenges inherent in navigating diverse regulatory landscapes.Combating Fraud in Fintech: Camila sheds light on the perpetual battle against fraudsters and criminals in the fintech realm, underscoring the importance of proactive fraud prevention measures to safeguard customer assets and data.Data's Role in Risk Management: The conversation turns to the pivotal role of data in risk management, with Camila highlighting the significance of data quality, patterns, and behaviors in informing effective risk mitigation strategies.AI and Automation in Compliance: Camila discusses how InPay harnesses AI, automation, and machine learning to bolster compliance efforts, particularly in transaction screening, monitoring, and fraud detection, ushering in a new era of efficiency and effectiveness.The Significance of Data Governance: We delve into the importance of robust data governance frameworks for fintech companies, exploring how they ensure regulatory compliance, data integrity, and trustworthiness in the eyes of regulators and customers alike.Navigating Regulatory Compliance: Camila provides insights into InPay's regulatory obligations under the Danish Financial Supervisory Authority (FSA), highlighting the pivotal role of transparency and trust in fostering strong relationships with regulatory bodies and customers.Future Horizons: Gen AI and Cross-Border Payments: The conversation concludes with a glimpse into the future of fintech, as Camila shares her vision of Gen AI revolutionizing cross-border payments, driven by a commitment to innovation and collaboration in the industry.Digital identity: The hosts discuss how identity remains a complex challenge globally, with antiquated systems prevailing despite technological advancements. Various approaches, from biometric systems like Aadhaar in India to blockchain technology, offer potential solutions to the decentralized ownership and verification of personal data. For more discussion on identity check out our episode with Peter Grosskopf, former CTO of Solaris. About Fintech Files: Are you ready to unravel the most innovative trends disrupting the world of Fintech today? Join us on Fintech Files from BCG Platinion, where we delve deep into the dynamic landscape of Fintech, NeoBanks, and the Digital Banking world, sparking insightful conversations with industry disruptors from around the globe. So, what are the most groundbreaking trends shaping the future of Fintech, and how will they...