PYMNTS discussion on Compliance as a Service (CaaS)
In this short interview, Rich Aberman, Chief Strategy Officer and co-founder of WePay talks with Karen Webster of PYMNTS.com about compliance, how it affects platforms and ISVs and the emergence of Compliance-as-a-Service (CaaS).
“U.S. firms are complying with the General Data Protection Regulation (GDPR) because it is better to have a “consistent system than a divergent one running globally.”
“These are opposing forces running at once, he noted, and the pendulum will likely continue to swing between them. The goal of FinTech firms, in an era when compliance can be offered as a service, is to basically help firms stop from having to swing along for that pendulum ride, while still trusting they are in the driver’s seat.”
“The onus is on us in this business to really offer up the best of both worlds, where you as a merchant or platform can deliver the experience you want and avoid being on the hook for managing compliance,” Aberman said.
You can find a full summary of the interview here.