In the latest episode of the Wrestling Payments Podcast, I sat down with two of my favorite sparring partners—Sarah Stapp, Chief Commercial Officer, and Geoffrey S., Head of Compliance at Aeropay—to explore one of the most enduring tensions in financial services: sales vs. compliance. But what started as a playful debate quickly turned into a rich conversation about collaboration, innovation, and the future of payments.
We covered a lot of ground—from the rise of pay-by-bank to the regulatory ripple effects of industry failures like Synapse. What struck me most was how aligned Sarah and Geoff really are, even if they come at problems from opposite ends of the ring.
Compliance Isn’t the Department of “No” Anymore
Geoff shared a guiding principle that stuck with me: “Compliance is about finding a way to get to yes.” That mindset is a far cry from the old stereotype of compliance as a roadblock. Instead, Geoff sees his role as enabling innovation—by building frameworks that allow the business to move forward safely.
That’s especially important in today’s environment, where regulators are scrutinizing third-party relationships more closely than ever. AeroPay doesn’t hold customer funds, but they still face intense oversight because of how sponsor bank models are perceived. Geoff’s approach is to stay organized, follow through on commitments, and keep the lines of communication open—especially with sales.
Sales Needs to Know the Sandbox
Sarah, for her part, brings energy and optimism to the sales side—but she’s no stranger to the realities of risk. She’s worked with compliance teams that were dubbed the “department of no,” and she’s learned how to navigate that landscape by qualifying leads early, understanding prohibited industries, and packaging deals in a way that makes it easy for compliance to say yes.
Her advice to other sales professionals? Know your sandbox. Ask questions early. Understand the flow of funds, the use case, and the regulatory requirements. And when you’re pushing the boundaries, be honest about it. If she tells Geoff a deal is “really interesting,” he knows it’s time to dig deeper.
Pay-by-Bank Is Growing—But So Are the Risks
One of the central themes of our conversation was the growth of pay-by-bank in the U.S. AeroPay is built on ACH rails, and both Sarah and Geoff see increasing interest from merchants who are tired of card fees and eager for alternatives. But with that growth comes complexity.
Unlike card networks, pay-by-bank relies on open banking and account linking, which means AeroPay has access to rich data that can inform decision-making. That’s a huge advantage—but it also requires careful handling, especially in regulated markets.
Sarah pointed out that while pay-by-bank feels new in the U.S., it’s already well-established in places like Europe, India, and Brazil. The U.S. is catching up, but slowly—and with a lot more players in the game.
Lessons from Synapse: Why Oversight Matters
We couldn’t talk about compliance without touching on Synapse. Geoff gave a clear summary of what went wrong: poor reconciliation, unclear fund flows, and ultimately, a loss of consumer trust. When FDIC insurance is compromised, the consequences are real—people lose their life savings.
The takeaway? Regulators are watching more closely now, and fintechs need to be ready. Even if you’re not holding funds, you need to demonstrate transparency, accountability, and a clear understanding of your role in the ecosystem.
Innovation Is Consumer-Driven—and Compliance Must Keep Up
Sarah reminded us that payments innovation is always driven by consumer behavior. Whether it’s gaming, faster payouts, or new payment methods, users want speed, convenience, and control. Merchants respond to that demand, and fintechs race to deliver.
But Geoff added an important counterpoint: compliance has to innovate too. He’s gone from working in an “ivory tower” to being in the trenches—translating complex rules into actionable guidance for the business. It’s not easy, especially with limited resources, but it’s essential.
We also touched on stablecoins, AI, and the geopolitical implications of digital currencies. Geoff raised a sobering point: if global transactions stop clearing in U.S. dollars, we lose a powerful tool in public policy. That’s not just a compliance issue—it’s a national one.
Collaboration Is the Future
In the end, Sarah and Geoff agreed on more than they disagreed. Sales and compliance aren’t adversaries—they’re partners. When they work together, they can move fast without leaving risk behind. And in a world where payments are evolving by the minute, that kind of collaboration isn’t optional—it’s table stakes.
If this conversation resonated with you, I encourage you to listen to the full episode of Wrestling Payments. And if you’re thinking about how to bring these insights into your own organization, let’s talk. NEACH offers a range of educational programs, and we’re hosting our Future of Payments Symposium in November 2025. It’s a great opportunity to dive deeper into these topics with peers across the industry.
Let’s keep wrestling with the hard stuff—together.
NEACH - New England Automated Clearing House Association is a neutral, member-focused advocate. Our role is to give you the intelligence, context, and connections you need to make informed strategic decisions. We bring together industry leaders, policymakers, and innovators so you can evaluate innovation through the lens of your institution’s mission and market strategy.
NEACH launched the Wrestling Payments Podcast to help financial professionals navigate the fast-changing payments landscape with clarity and confidence. Each episode dives into the real-world challenges of modernizing payment systems. Through candid conversations with industry experts, we explore topics like payments modernization, real-time rails, legacy banking silos, cryptocurrency, and the growing influence of Big Tech. Whether you're in operations, risk, compliance, or strategy, Wrestling Payments offers insights that help you build smarter, more resilient payment operations—one episode at a time.