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Company Name: PerformLine
Name/Title: Alex Baydin, CEO and Founder
Industry Segment: RegTech company delivering automated compliance solutions to the financial services industry.
Target Market(s): Global
LTP: Tell us a little bit about yourself.
Alex Baydin (AB): I’ve been in the compliance industry for over 10 years now, and I was just named to be the executive board of the International RegTech Association (IRTA). At PerformLine, we’ve been using our technology to help enterprises monitor and mitigate regulatory and brand risk since 2007, but I’m continually intrigued by the complex challenges that compliance poses and how technology is making it easier and more cost-effective, so much that I even started a conference called COMPLY held in NYC each May to discuss regulatory technologies and all facets of compliance.
LTP: Give us a paragraph pitch of your company.
AB: PerformLine is the largest RegTech (regulatory technology) company in terms of revenue and number of clients. We deliver automated compliance solutions for enterprises that want to mitigate regulatory risk and ensure brand safety. Our cloud-based platform empowers compliance functions with the intelligence, insights, and tools needed to mitigate risk across all consumer interactions channels, including web, voice, chat and mobile. Our Merchant Monitoring solution mitigates payments risk with complete oversight of e-commerce merchants.
LTP: In a sentence or two, what problem are you solving today?
AB: This includes the day-to-day multi-channel/multi-dimensions of e-commerce payments risk that processors and acquirers are subject to. We do this by supporting merchant life cycles. Our technology helps processors with their operations, risks, and compliance across web, voice, and chat domains. Ultimately, our goal is to protect payment brands and save people time and money with a comprehensive platform.
LTP: Who are you selling to?
AB: Anyone who absorbs merchant risk from a card brand, reputational risk, marketing compliance, and even transaction laundering perspective. Adopters of our technology are banks, acquirers, processors, and ISOs.
LTP: Why did you start the company?
AB: As an executive in the performance media space 10+ years ago, I saw a need for better optics into monitoring and the compliance of marketing. With that vision, I started PerformLine to provide that integral transparency and data. What I didn’t realize at the time was that we were pioneering a new industry around technology and compliance monitoring.
LTP: What's the most important change coming to your segment in the next 3-5 years?
AB: The scale of e-commerce growth will continue as will mobile payment methodologies. Just as omni-channel payment functions have blurred the lines between the POS and CNP environments, risk and control technologies and methods will expand and extend to these realms as well.
LTP: What’s your next milestone?
AB: Our next milestone is to continue to stay ahead of the needs of the ecosystem. In addition to our core payments product, we will soon include a new analytics risk signal product in Q4. This product will combine the power of our platform with rich analytics and CFPB data, adding another dimension of risk, rules, and signal into a portfolio.
LTP: Anything else you want to say to our audience?
AB: With technology rapidly advancing, we recommend pursuing the best tools possible. Regulatory Technology (RegTech) is a relatively new segment, sitting at the intersection of the card payments regulatory environment and technology – where technology is used to solve some of the biggest problems that exist here.
Bonus - User’s Choice Question!
LTP: What's one thing you wish customers knew before a sales meeting?
AB: How our SaaS platform is easy to deploy. Our system lives in the cloud. It requires ZERO downloads or updates, and it powers more than just observations. It empowers organizations to reach their strategic goals with confidence, validation and intelligence.
Thank you, Alex!
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