MyComplianceOffice amplifies reach and growth with milestone acquisition and new products
- Acquisition of Schwab Compliance Technologies in May 2022 cements position of MyComplianceOffice as a leading authority in compliance technology
- Ambitious growth strategy sees over 25% of annual revenues invested in R&D to support continual enhancements to the MyComplianceOffice platform
NEW YORK–(BUSINESS WIRE)–#asiarisk–Global conduct risk and compliance technology provider MyComplianceOffice (MCO) had another strong and successful year in 2022, doubling revenue and headcount and achieving significant scale. An infusion of debt funding from Accel-KKR partners has allowed the company to accelerate their growth and expand their focus on product development and market expansion.
Dave Kubersky, Chief Revenue Officer, commented, “Our growth strategy is driven by continued product development that delivers superior solutions built on an integrated platform. A well-defined market approach, solid pricing strategies, targeted promotion and a burgeoning partner program with providers who use MCO technology to deliver compliance services have also contributed to this year’s growth.”
Bolstering the company’s expansion, the acquisition of Schwab Compliance Technologies (SCT), a solution that automates the monitoring of employees trading activity and administering a firm’s Code of Ethics, increased the number of MCO client firms to over 1,300 across 105 countries. In addition, the launch of a new product suite, Know Your Risk (KYR), expanded MCO’s capabilities to provide financial services firms with comprehensive compliance governance and oversight and a complete view of risk and assurance over time.
MCO’s compliance management platform was recognized by multiple industry awards this year, including:
- Technology Ireland Industry Awards Digital Company of the Year
- Deloitte Technology Fast 50 Ireland Scale Up Awards
- Asia FinTech Awards RegTech of the Year 2022
- Regulation Asia Best Conduct Risk Solution 2022
- RegTech Insight Europe Awards Best Conduct Risk Solution 2022
- RegTech 100 2022
Brian Fahey, Chief Executive Officer, commented “MCO governs some of the most sophisticated compliance management programs in the world and MCO staff are experts in compliance best practices. We’re committed to helping our customers keep up with rapidly evolving regulatory and compliance frameworks across the globe. The recent acquisition of SCT and the launch of our new KYR solution will help us move forward our mission of providing award-winning, state-of-the-art compliance technology to the financial services industry.”
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About MCO (MyComplianceOffice)
MCO provides compliance management software that enables companies around the world to reduce their risk of misconduct and effectively oversee regulatory obligations. MCO’s powerful platform lets compliance professionals demonstrate they are proactively managing the regulated activities of the company, employees and third-party vendors and provide evidence of regulatory compliance. Available as a unified suite or à la carte, MCO’s easy-to-use and extensible SaaS-based solutions get firms up and running quickly and cost-efficiently. Learn more at mycomplianceoffice.com
Contacts
Media Contact:
Lisa Deschamp, Vice President, Global Marketing
MyComplianceOffice
[email protected]
