Partnering with Fintech Companies: Due Diligence, Evaluation & Risks
Fintech companies are dramatically changing the financial services industry. Many community banks are entering into business relationships with fintech companies to provide innovative products to enhance customer satisfaction, increase the bank’s efficiency, and reduce costs. Due diligence and risk evaluation have always been important components in a bank’s third-party risk management process, and this is especially important when “partnering” with fintech companies. This webinar will detail the specific items that bank regulators require you to consider when conducting due diligence and evaluating a fintech company. You’ll also learn the practical business issues to address when entering into such a relationship.
Attendance certificate provided to self-report CE credits.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
Understand the regulatory and legal requirements of partnering with a fintech company
Explain both the bank and the fintech company’s roles and responsibilities in their relationship
Conduct the required regulatory due diligence
Properly evaluate the risks and benefits before entering into a relationship
Create the best relationship structure with a fintech company
Negotiate with a fintech company to obtain favorable contract terms
WHO SHOULD ATTEND?
This informative session will benefit bank management, loan and deposit operations personnel, technology staff, new product staff, vendor management personnel, compliance officers, auditors, attorneys, and others involved in the strategic planning, due diligence, and evaluation processes.
Guide for community banks (published by the FDIC, OCC, and Federal Reserve) titled Conducting Due Diligence on Financial Technology Companies – A Guide for Community Banks
Due diligence checklist specifically designed to evaluate fintech companies
Employee training log
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.
MEET THE PRESENTER
Elizabeth Fast, JD & CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.