Controls questions are not only for licensed banks
Founders sometimes assume “controls” belong only to larger institutions. In pre-investment diligence for fintech, investors routinely ask about access rights, approval paths, and how customer exceptions are handled.
You do not need a thick policy binder. You do need clear ownership, evidence that reviews actually happen, and an honest list of what is still manual.
A founder controls review is useful when policies exist in theory but have never been walked through with an outsider asking follow-up questions.