compliance training payment institutions
Mon, Sep 7 2020

You can ask us anything about compliance!

The diploma is in the pocket! Just like our Compliance Officer Leonie, I can now officially call myself 'Compliance Professional'. Last months, we were following a training for this at the Dutch Compliance Institute. Each topic related to compliance has been mentioned, such as how to organise compliance within your organisation, how to manage compliance risks and how to respond quickly and adequately to issues 


Complying with regulations or being compliant is not only important because it is a necessary evil. For our customers, it means that we give the  we can to ensure a secure payment environment for their platform or marketplace, including the fact that all shared information is secure. As a payment service provider, we are of course highly knowledgeable in this area and our processes are extremely structured. But to provide the best leadership of our organisation, I decided to gain more knowledge about the laws and regulations.


Compliance is not just about management

The importance of compliance is growing and it affects the entire organisation. Monitoring, controlling and managing risks are not only management tasks. To set up a rock-solid compliance process, especially Risk managers, compliance officers, but also employees, must carry important responsibilities. For example, risk analyses and Know Your Customer (KYC) investigations must be carried out, transactions must be monitored and reports must be submitted to regulators. But compliance is also an issue when hiring new employees.

The training that we followed was very broad and focused on all types of financial institutions. This means that we also learned a lot about compliance challenges for banks and insurers and the financial products that these provide. Of course, this does not directly refer to compliance issues we are facing as a payment service provider. As chairman of the VBIN, I already heard multiple requests with the need for targeted compliance training courses specifically for payment institutions. This signal and the experience that I gained with my compliance training have pushed me to start thinking about developing such a training that is specifically aimed at our industry.


With the aim of a tailor-made training course, I started the conversation with the UvA Academy for Banking and Insurance (UvA ABV). I am very proud that the VBIN has joined forces with UvA ABV to develop and deliver compliance training courses for directors, compliance officers as well as employees. Here, you can read more about these courses, of which I am also affiliated as a lecturer myself. So if you have any questions about compliance at your payment institution, please feel free to contact me!


Read the press release on Emerce (in Dutch) 

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