TransferTo Adds Ex-PayPal Exec, Paul de Ruiter as Chief Compliance Officer

TransferTo, a mobile money Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term, has appointed Paul de Ruiter as the newest member of its senior management team and to the role of Chief Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term Officer (CCO), according to a TransferTo statement.

In his new role as the CCO at TransferTo, Mr. de Ruiter will be leading the group’s compliance operations, which will include building a worldwide compliance program with an emphasis on growth trajectory. His expertise in the field of compliance will also be utilized, given the regulatory changes necessitated for the group’s Mobile Money Hub.

Mr. de Ruiter joins TransferTo from PayPal, having served as its Compliance Director for over three years out of Singapore. Prior to PayPal, he also worked in a number of senior level roles at American Express, dating back to 2007.

According to Eric Barbier, CEO of TransferTo, in a recent statement on the appointment, “We are excited to be working with Paul and to welcome him to the TransferTo board. Paul joins us from PayPal with a wealth of compliance knowledge, specifically in money transfer. Having Paul’s expertise means that we can continue to offer our clients a fully compliant Mobile Money Hub in an industry under new regulatory pressures.”

“I approach compliance as an independent function, but not a stand-alone department. Compliance has to be integrated into the business, to become a mindset, an attitude, and a way of doing business. Compliance is everybody’s business! I’m delighted to be joining the board of a company that puts compliance at the core,” added Mr. de Ruiter in an accompanying statement.