[INFOGRAPHIC] Licensing Is the Least of Your Worries

“Why can’t we just do it ourselves?”

That’s a question we sometimes hear when we’re discussing Hyperwallet’s compliance program with a potential client. Having gone through the lengthy and resource-intensive process of applying for licenses in various countries around the world, we know how difficult it can be. But for someone who hasn’t built out a compliance program of their own, it understandably might look as simple as acquiring a license and not doing anything shady.

The reality is that licensing is just a small part of any effective compliance program. There are a number of other factors—things like staff, specialization, time, and cost—that these companies often haven’t considered. To illustrate this point, we’ve put together an infographic that highlights the different facets of a global compliance program and demonstrates why licensing is the least of your worries.