FlexM’s Mehek Weldon Wins Innovator of The Year from International Compliance Associationby Fintech News Singapore June 1, 2022
Fintech is an increasingly popular industry which is evolving and changing everyday and it is because of this dynamism that the regulatory and compliance structure of fintech has gained paramount importance.
FlexM, an award-winning Fintech-as-a-Service (FaaS) solutions provider through B2B platforms, has received notable appreciation and recognition recently for its innovative technology and solutions.
On the 19th of May, 2022, FlexM’s Global Head of Compliance and Operations, Mehek Weldon, was honored with the prestigious “Innovator of the Year” award hosted by the International Compliance Association, at the Oval, London.
Established in 2002, the International Compliance Association has played a prominent role in regulating and monitoring compliance policies and practices in the financial sector. With the onset of fintech, the responsibilities of ICA have grown tremendously.
Being recognised as the “Innovator of the Year” is an exalted achievement that deserves to be revered. Mehek’s efforts and strategy in this direction has beckoned the judges’ attention and agreement.
Her outstanding ideas about amalgamating the human aspect with compliance had inspired the judges at the ICA. As quoted by the host, the judges had the following to say on Mehek’s winning entry:
“An excellent submission which focuses on the ‘human’ aspect of compliance, good compliance can and should focus on a positive outcome for the client experience. Highly commended.”
At FlexM, Mehek is responsible for designing and implementing compliance policies and operational procedures for the company, in various countries, to comply with the local regulatory and licensing obligations.
She is an ex-banker and has managed high-net-worth banking clients with adherence to bank’s policies and norms. She has been an ex-founder and director of a startup in Singapore. Her entrepreneurial background coupled with her banking experience has helped her develop a unique combination of fintech agility bundled with bank-grade compliance.
Mehek Weldon said,
“I feel extremely honored to receive this prestigious recognition. Innovation is at the heart of everything that we do at FlexM and to be recognised for it by the ICA shows that the compliance culture can be an integral part of any fintech’s business strategy. When organisations allow compliance to take lead in business reengineering then it prepares the entire industry to fight financial crime due to emerging technology disruptions.”
On the ICA awarding Mehek for her wondrous imagination and efforts, FlexM Global’s Executive Chairman and Founder, Rune Nilsson had the following comments:
“FlexM would like to extend its heartiest congratulations to Mehek on achieving such an honor. Mehek’s determination and persevered efforts have brought her well-deserved recognition. Therefore, it is no wonder that the company is progressing to greater heights under her leadership.
It is an extremely proud moment for the entire company and Mehek’s achievements have inevitably fueled the company’s motivation even further. We wish the company even greater success!”
Incorporated in 2015, FlexM’s operations and role in the fintech industry has broadened and branched into various segments since then. What started as a company solving financial inclusion and banking the unbanked through digital banking and e-remittance has transformed into a platform that now powers other businesses to launch their own fintech use cases.
Being a new-age digital bank, transforming a traditional money transfer business, embedding payments in an existing distribution model or taking your new startup idea to market; FlexM’s modular platform helps financial institutions and businesses to build and scale their unique fintech use-case, with lower investment and time to market.
Initially setup in Singapore and regulated by the Monetary Authority of Singapore (MAS), FlexM has rapidly augmented its global presence by starting operations in India, Canada, the Philippines, Norway and now Bangladesh.
After the success of FlexBank and FlexRemit platforms, which today power over 400 businesses and financial institutions globally, FlexM has now launched their newest product FlexComply which is an all-in-one compliance and risk management system that enables banks, MSBs and other regulated entities to manage and automate their compliance workflows.
A majority of FlexM clients are financial institutions and hence compliance forms a critical part of the solutions these clients use. This is where FlexM excels and this award truly corroborates it.
With Mehek’s incredible contribution getting recognised by the ICA, it leaves minimal doubts about innovation and compliance coalescing together to enhance the industry. The potential of growth of fintech is immense, which only suggests an unending resultant growth of the importance of compliance.