Get to Know: David Podesta - Head of Compliance & Risk MLRO

What is your role at Nucleus365?

I am the MLRO and Head of Risk.

What does your average day look like at Nucleus365?

My day starts by looking back at what has happened the day before to see if there's anything that needs the teams or my attention. Then we review the applications that we've received - the team will pull together all the information and we will take the appropriate decision if to continue with the application or not based on the risk appetite that we have set for Nucleus365. I then review any different queries that the business might have in relation to the compliance and risk. Lastly following the daily report, we do a quick once over of all the transactions that have happened on the day and make sure there isn't anything that the system might have missed that needs our immediate attention.

How did you get into the payments sector?

In 2007 I started in the fraud department within the gambling industry passing from being fraud manager head of KYC, then decided to move across to the financial world in 2013. Since then I worked as Head of Compliance MLRO and other positions here in the UK and in Europe. When I moved across from the gaming industry, the reason I moved to the financial services sector was to challenge myself and see if the automation that was available in the gaming sector could be replicated in the financial services sector especially in the onboarding and ODD (operational due dilligence) piece.

What excites you most about the  payments sector and your work?

Every day is different and especially in the last 10 years there is been a huge shift from what we knew and what the financial world looks like today, where innovation and new ways of doing things seems to be appearing on a daily basis. This in turn created a very attractive ground for investment therefore expediting enormously even further the development of new platforms, new payment methods and growing the number of products constantly. This is a golden age for the payment sector and it is great to be a part of it.

What trends do you see emerging in the next few years in the payments industry?

Real-time payment technology, increased pay-out methods, cryptocurrencies, digital remittances and even further targeting of the unbanked with new products to minimise the number of people without access to a bank account or a wallet/payment method that they can use to digitalise their life.


Find out more

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In 2023, we will likely see embedded finance being adopted more widely in emerging markets. Led by inclusive fintech startups, embedded finance could empower consumers who were previously marginalised in the traditional financial sector.


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