MCO (MyComplianceOffice), a leading provider of compliance technology, has enhanced its platform with Anti-Money Laundering (AML) and Know-Your-Customer (KYC) capabilities. This addition expands the platform’s financial crime and third-party compliance functionality, providing firms with a powerful solution to meet regulatory obligations and proactively manage risk.
MCO’s AML and KYC capabilities enable financial institutions to transform and automate their customer due diligence process. From onboarding to periodic reviews to client maintenance and offboarding, MCO’s platform systematically manages the collection of KYC information and in-depth screening of clients and related parties continuously throughout the lifecycle of the relationship. By leveraging cutting edge technology to disregard false positive noise and escalate only the most relevant potential matches for Sanctions, PEPs, and Negative News, MCO allows Compliance teams to streamline investigations and focus on high value work. The system provides a traceable, quantified view of risk and a customizable and automated compliance framework that improves data integrity and reduces the operational burden of managing disparate systems.
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“Our clients are facing increased regulatory scrutiny and pressure to deliver more from their compliance programs with fewer resources,” said MCO CEO Brian Fahey. “By embedding AML and KYC into our core platform, we’re giving firms the tools they need to stay ahead of financial crime risks—without the complexity of managing disconnected point solutions.”
MCO recently explored the latest trends in financial crime compliance during a webinar featuring Neil Katkov, PhD, Director at Celent, who brings extensive insight into the evolving regulatory and technology landscape.
“As financial services becomes increasingly digital—driven by real-time payments, mobile platforms and cross-border transactions—the potential for financial crime is rising. Firms must rethink the structure of their compliance architecture,” said Neil Katkov, Director, Celent. “Integrating AML and KYC into a broader compliance platform like MCO’s not only enhances control but also improves agility in responding to both threats and regulatory change.”
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