KUALA LUMPUR, Dec 15 (Bernama) -- 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 its growth and expand its focus on product development and market expansion.
Its chief revenue officer Dave Kubersky said: “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 programme with providers who use MCO technology to deliver compliance services have also contributed to this year’s growth,” he said in a statement.
Bolstering the company’s expansion, the acquisition of Schwab Compliance Technologies in May 2022 increased the number of MCO client firms to over 1,300 across 105 countries, cementing its position as a leading authority in compliance technology.
In addition, the launch of a new product suite, Know Your Risk, expanded MCO’s capabilities to provide financial services firms with comprehensive compliance governance and oversight as well as a complete view of risk and assurance over time.
Its ambitious growth strategy sees over 25 per cent of annual revenue invested in research and development to support continual enhancements to the MCO platform.
MCO’s compliance management platform was also recognised by multiple industry awards this year. Some of the awards include Technology Ireland Industry Awards DigitalCompany of the Year, Deloitte Technology Fast 50 Ireland Scale Up Awards and RegTech 100 2022.
Its chief executive officer Brian Fahey said the company governs some of the most sophisticated compliance management programmes in the world.
“Our staff are experts in compliance best practices and we are committed to helping our customers keep up with rapidly evolving regulatory and compliance frameworks across the globe,” he said.
-- BERNAMA
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