Acquisition of Schwab Compliance Technologies in May 2022 cements position of MyComplianceOffice as a leading authority in compliance technology
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.
“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.”
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.”
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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
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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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