On 26th April, our community of innovative retailers, manufacturers, financial institutions, insurers, telcos, fintechs and tech providers, gathered at FTT Embedded Finance & Super Apps. During an exciting day of content, our Chief Strategy Officer and Co-Founder, Lisa Moyle, took the opportunity to interview Stefan Slattery, Demand Generation Lead at Very Good Security.
Very Good Security (VGS) enables start-ups and enterprises to focus on their core business instead of compliance and regulatory overhead. With one single integration, VGS offers payment data security and compliance infrastructure for modern organizations.
Stefan emphasizes the protection of payments data and more adeptly the facilitation of compliance frameworks like PCI or GDPR.
When talking about the opportunities within embedded finance, he mentions several “When it comes to embedding financial products and services, for me, it’s all about removing friction” He adds that “When you think about things like virtual cards, years ago we used to have to wait two to three weeks to get a card in the mail, whereas now you can get a virtual card instantly.”
He also notes how VGS can help companies that are seeking to build a fintech product by removing barriers in the data security component, which will allow for broader access. The democratization of lending with BNPL, for example. That facilitates rapid growth and innovation and mitigates the risk that may come with it, so it doesn’t get in the way of innovation.
“All the opportunities behind that are driven by embedded finance clearly have some regulatory issues to consider”. Stefan explains how VGS supports companies that want to offer embedded finance propositions by offering data protection services and working through the collection of sensitive data.
To learn more about data security, compliance infrastructure within embedded finance and about Very Good Security, watch the video below:
The next edition of FTT Embedded Finance & Super Apps will take place as part of the Fintech Talents Festival on 14th and 15th November 2022 at The Brewery, London. The North America edition will run in San Francisco on December 1st , 2022. Save the dates!