As part of the role Paul will build a worldwide compliance programme as the foundations to which TransferTo’s Mobile Money Hub can grow. Paul will be making sure the Hub remains compliant in an industry that is constantly adapting to regulatory changes. For regulated activities such as TransferTo’s Mobile Money Hub, compliance is as essential as having a license to operate.

In today’s demanding, ever-changing and somewhat turbulent regulatory environment a rigorous approach to compliance is essential to TransferTo's business as it aims to protect the interests of its network of partners.

TransferTo’s Mobile Money Hub provides a dedicated, scalable and fully compliant solution for Financial Institutions and Mobile Operators to connect to millions of Mobile Money accounts worldwide with a single connection. The hub assists these institutions with interoperability issues, while also adding another layer of compliance - something these companies have to navigate in many different territories.

Eric Barbier, CEO of TransferTo, said: “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.”

Paul de Ruiter commented: “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.”