The rapid expansion of financial technology has transformed how money moves across borders, but the physical reality of local laws remains a formidable barrier for most emerging firms. Yulia Shevchenko, a key executive at the global payments company Unlimit, argues that the difference between a successful international rollout and a costly failure often comes down to how a firm perceives the regulatory environment. Rather than viewing compliance as a hurdle to be cleared, Shevchenko suggests that a deep mastery of local requirements is actually a competitive advantage that can accelerate market entry.
In the current economic climate, fintech companies are under increasing pressure to prove the sustainability of their business models. The era of growth at any cost has been replaced by a focus on operational excellence and long-term viability. According to Shevchenko, this shift has brought compliance to the forefront of corporate strategy. For a company like Unlimit, which operates across five continents, the challenge lies in maintaining a unified global vision while remaining agile enough to adapt to the specific idiosyncrasies of every market from Brazil to India.
One of the primary mistakes expanding firms make is assuming that a successful framework in Europe or North America can be easily exported to emerging markets. Shevchenko notes that every region has its own unique set of customer behaviors and regulatory priorities. In many parts of the world, central banks are not just acting as gatekeepers but are actively shaping the future of digital payments through initiatives like real-time payment rails. Understanding the nuances of these local systems is essential for any fintech player that wants to offer more than just a surface-level service.
The complexity of the regulatory landscape is further compounded by the rise of new technologies such as decentralized finance and artificial intelligence. Regulators are currently racing to keep pace with these innovations, creating a period of significant uncertainty. Shevchenko emphasizes that proactive engagement with governing bodies is the best way to navigate this volatility. By participating in industry dialogues and demonstrating a commitment to consumer protection and anti-money laundering standards, fintech companies can help shape a favorable environment for their future operations.
Scale is another critical factor in the global fintech race. As a company expands, the cost of compliance can grow exponentially if the underlying infrastructure is not built to handle diversity. Shevchenko points out that Unlimit focuses on building its own proprietary technology rather than relying on a patchwork of third-party providers. This approach allows for greater control over data and more seamless integration with local banking systems. It also provides the flexibility needed to update systems quickly when local laws change, which they frequently do in high-growth regions.
Looking ahead, the trend toward open banking and cross-border collaboration between regulators suggests that the world may be moving toward more standardized financial rules. However, Shevchenko cautions that we are still far from a truly borderless regulatory world. For now, the successful fintechs will be those that invest heavily in local expertise. This means hiring people who understand the cultural context of money in a specific country and building relationships with local financial institutions that go beyond mere transactional agreements.
Ultimately, the journey of global expansion is as much about legal resilience as it is about technological innovation. Yulia Shevchenko’s insights serve as a reminder that in the world of finance, trust is the most valuable currency. That trust is built on a foundation of regulatory compliance and a genuine commitment to serving the needs of local communities. Companies that recognize this will be the ones that thrive in the next decade of financial evolution, turning the complexity of global laws into a roadmap for sustainable growth.
