Global Data Consortium Strengthens Position in Identity Veri

|Apr 1|magazine9 min read

As digital commerce becomes the new normal, GDC brings unparalleled insight to help industry compliance teams and customers adjust with new chief compliance officer and the formation of a compliance advisory board.

RALEIGH, N.C., April 1, 2020 /PRNewswire/ -- GDC is proud to announce that James Philip is going to be joining the team as our Chief Compliance Officer.

While it's not yet common practice in our industry, having a Chief Compliance Officer will help GDC and their customers navigate an increasingly complicated regulatory environment, and build customer onboarding systems that maintain compliance yet reduce friction.

The myriad of emerging regulatory and social issues we face today are shaping our industry for tomorrow. Data privacy laws and other compliance regulations are constantly in flux and more complicated than ever. Furthermore, as more businesses pivot towards online transactions, maintaining compliance will be a challenge.

In addition to directing compliance initiatives internally, Mr. Philip will be leading our industry-first Compliance Advisory Board (CAB). GDC's CAB is an independent body of compliance professionals that help others in the industry manage the challenges of protecting data privacy and maintaining compliance with other global regulations.

"Having the CAB makes GDC uniquely positioned in our market to help GDC customers by providing resources to help them better understand compliance regulations in their industry sectors," says Bill Spruill, GDC Co-Founder and CEO. "The CAB also allows our team to empathize with real customer challenges, helping us answer the right questions."

As financial transactions become increasingly accessible in an online app-powered world, financial services companies must meet growing global regulatory anti-money laundering requirements. Many financial services business compliance teams are challenged with oversight of processes and procedures to onboard customers and execute transactions. They must keep the experience user friendly, while at the same time being compliant with anti-money laundering and know-your-customer regulations.

"The world of compliance is very complex," says CAB member Joacim Andersson. "It's valuable to have a forum to ask new questions and gain an external perspective."

Launched at FinTech Connect London, the GDC CAB exists to guide and direct GDC customers as well as internal business activities, enabling GDC to more fully understand the challenges faced by FSI compliance teams, and develop new solutions to meet customer challenges.

In addition to Mr. Philip's leadership, GDC is adding CAB members from diverse backgrounds to further expand its already significant industry compliance knowledge. These members provide GDC and its customers unique and compelling insight into approaches and points of view that will improve compliance in the light of increasing global regulations.

In addition to James Philip, the CAB consists of:

  • Joacim Andersson – Principal Consultant, OPX Partners (Stockholm, Sweden)
  • Malgorzata Skowronska – Head of Compliance, CurrencyCloud (London, UK)

The GDC CAB will be hosting a virtual webinar in early April breaking down what businesses need to know about the accelerating transition to digital business. More details can be found on the GDC blog: https://globaldataconsortium.com/blog/

To learn more about the CAB, please go to:  https://globaldataconsortium.com/complianceadvisoryboard/

ABOUT JAMES PHILIP

James Philip is a Governance, Risk, and Compliance professional specializing in Enterprise Risk Management and Anti-Money Laundering/Terrorist Financing. He leads a consulting practice that has a diverse range of global clients from FinTech startups to international banks. Before this, Mr. Philip was the Chief Compliance Officer of Remitly, Inc., a global digital remittance company. He has held senior leadership positions in the Compliance and Risk functions within global financial institutions, including Visa, Inc., PayPal, Inc., Remitly, Inc., Ernst & Young, Barclays Global Investors, N.A. (now BlackRock, Inc.), Barclays Bank, PLC, and Citigroup, Inc.

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SOURCE Global Data Consortium