At the close of Women’s History Month in March, and the introduction of new beginnings as spring is upon us, up and coming projects and career advancements have been on many a Charlottean’s mind. In addition to bringing new restaurants and services to the Queen City, organizations that are contributing to the financial and compliance sector are quickly warming up for the season.
Last year, the FinTech sector capitalized on gains in popularity that proved worthy in the realm of compliance and bookkeeping by invading the market, driven in the economy of Charlotte by the Uptown locations of numerous bank giants in the industry. FinTech, according to FinTech Weekly’s website, has grown by leaps and bounds with Millennials but is invading other banking forms with other generations as well. Pretty soon, the competition is anticipated to give mega corps a run for their money, no pun intended.
In the finance and compliance sector, third party reliance and outsourcing for similar type instances has become vital in order for businesses to operate in the area. The Charlotte Agenda touched on this issue in an article posted citing Alexandra O’Rourke, one of the city’s leading FinTech lawyers who works in the compliance realm. When asked about what she does for her primary job duties, she replied that she “learn[ed] people’s businesses really well and provid[ed] them counsel on how to set up their compliance system.” As an attorney specifically geared for FinTech and technology companies, reliance of outsourcing, a firm foundation for compliance strategy, as well as a thorough understanding of finances under a technology umbrella appears to be key to give major businesses further insight.
However, the true trend to watch this year will be the transition of businesses who aren’t involved as monetary power players in CLT. For all of the smaller and moderate corporations in a city so filled with entrepreneurs, outsourcing for finances and compliance matters to enable the same solid foundation will be pivotal to enable success.
We have attempted to enter this industry as small but reliable players in the field, slowly making our mark with the other dreamers like ourselves to create a vision of successful reliability in numbers and in risk prevention.