It's easy to take shots at any form of compliance tool, especially after seeing incumbent providers pursuing enforcement actions. What's harder is doing the work of interviewing lightning businesses to understand their key pain points.
Last quarter, we completed 26 interviews of Lightning businesses and found that this was a critical component for the lightning ecosystem that was stalling product launches, interfering with bank account setups, or drowning startups in legal bills. We know many of these pains because we experienced most of them ourselves.
To address this taboo pain point, we built Reflex not for enforcement actions, but for the risk management basics that regulated businesses need in order to thrive. We all need lightning to be successful and sometimes that means addressing the elephant in the room that lightning businesses need better tools to show that they aren't associated with money laundering or terrorism while using a private payment system.
To be clear: a win for Amboss is more successful lightning businesses, not more enforcement actions.
