Fintech Insider Podcast · Oct 19, 2026 · 52m · 46m saved
With Marit Rødevand, CEO and Co-Founder of Strise · Joe Parkin, Managing Partner at FG Partners · Kemi Odusan, Head of Growth at Spektr
Photo via strise.ai
About a third of Bank of America's money-laundering investigations started because another bank or law enforcement called, not because its own systems flagged anything, Marit Rødevand, CEO and co-founder of Strise, told the Fintech Insider Podcast after reading the regulator's enforcement order. She joined Joe Parkin, managing partner at FG Partners, and Kemi Odusan, head of growth at Spektr, on the 11:FS news panel with Ross Gallagher.
Most coverage of the fines tallied the dollar amounts. Marit, Joe and Kemi spent their time on why a bank with thousands of compliance staff still missed the activity.
"Imagine this billion-dollar machinery running, and it wasn't really doing much. It wasn't catching anything. So that's also an uncomfortable truth for banks... you're just flying blind." — Marit Rødevand
Marit's company builds anti-money-laundering and know-your-business software for banks, so the systems the order describes are the ones Strise sells against.
The full episode is covered here so you can skip it. 52 minutes of audio, 6 minutes of reading.
Here are the 7 takeaways that matter.
Key Takeaways
About a third of Bank of America's investigations started with an outside call, in Marit's reading of the order
Bank of America and Amex face $1.55bn in combined AML fines, including a record $750M from the OCC
Ramp's reported valuation jumped from $32bn to $60bn, which Joe called "absolutely extraordinary"
Kemi sees compliance treated as "the blocker" inside banks, kept apart from growth and product teams
Having a compliance program and having one that works are different things, Marit said
Joe asked listeners to weigh the scale of a trillion-dollar bank before judging its controls
1. Ramp's $60bn Valuation
Ramp's reported valuation has nearly doubled since November 2025, from $32 billion to about $60 billion. Joe Parkin, managing partner at FG Partners, said it shows how widely businesses need spend-management tools.
Joe Parkin says Ramp's jump shows near-universal demand for spend-management tools
"It's absolutely extraordinary and I think it just goes to show you how people are crying out for these solutions... every single business almost universally need these type of solutions." — Joe Parkin
The customer count is the evidence he pointed to.
"These guys have got 80,000 you know firms already on their books, which just shows the opportunity set that's there if you can deliver the right solution." — Joe Parkin
