1. While I applaud the innovation, the challenge in this industry is the complexity of compliance with regulatory laws. The financial industry has been slammed with new regulations in a convoluted world of complex legal requirements. Many banks have added to their compliance and legal departments in order to remain in business. The CFPB (primary regulator for large banks and non-bank financial services companies in the U.S.) will have an overbearing presence in this space. Mr. Hinrikus was right when he said “The business we’re in there is technical complexity, regulatory complexity, business complexity, so it needs a very specific group of people” but I wonder if he truly understands the impact/impression the regulatory environment will have on this business.

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