peekpublishers
TLDR:
- Earnix is focusing on fair pricing and value solutions to help finservs stay compliant with new regulations.
- They provide analytical tools to help lenders offer compliant prices and ensure regulatory compliance.
Summary of Earnix Article
Last week at MoneyLIVE Summit 2024, Giovanni Oppenheim, Director of Banking Solutions at Earnix, discussed how financial services institutions can demonstrate their commitment to compliance in the face of increasing regulations. Earnix’s main focus is on fair pricing and value solutions to assist UK clients in staying compliant with consumer duty regulations. They offer a platform that enables lenders to build compliant prices using their own models or in partnership with Earnix.
In response to new regulations, such as preventing ‘price walking’ in insurance, Earnix has been developing analytical solutions to help their clients comply. Oppenheim emphasizes the importance of software providers understanding their clients’ needs to offer the best tools for compliance. Additionally, he notes that while traditional banks have well-established compliance teams, fintechs may need assistance in ensuring compliance, and this is where Earnix can provide support.
The article also touches on the discussion of whether fintechs need to match the compliance efforts of incumbent banks. Offering compliant lending options is crucial for banks in terms of brand recognition and consumer trust. Earnix aims to assist fintechs in achieving compliance and providing fair value solutions to establish themselves in the market.
Lastly, the article mentions upcoming events like FinTech LIVE 2024 and highlights FinTech Magazine as a platform for industry players to showcase their brands, developments, and engage with a global audience of FinTech executives.
