Business Showcase : MyComplianceOffice

By @SimonCocking

Describe the company

MyComplianceOffice is a hosted Software as a Service (SaaS) solution, allowing organizations to automate their risk and compliance programmes. We operate in an area of the market known as FinTech (Financial Technology) and within that, RegTech (Regulatory Technology). Our systems originated as a solution to the very demanding regulation that is imposed upon firms operating in capital markets globally. Our client base includes companies operating in financial services such as hedge funds, asset managers, broker-dealers, banks, insurance companies and pension funds.

Our solution covers a lot of compliance program areas including:

• employee trade monitoring
• gifts and entertainment management
• third party and vendor risk management
• outside business activities
• political donations
• trade surveillance
• customer management

How are you different?

We work with our clients to synchronize the needs of their business with the demands of regulation in their sector through effective compliance program solutions. Our software integrates with existing processes, providing real-time oversight and control, through one command center dashboard.

Our software is very sensitive, reflecting the 1.8 million lines of code in the programme and our almost 20 years of experience in RegTech. Our pedigree in highly regulated USA markets, handling sensitive data, delivers a much higher degree of technological sophistication and security to our customers.

Why will the company / product do well?

The amount of regulation and the number of regulators is expanding across the world, especially in financial services, so demand is growing consistently for better RegTech solutions. Our software solutions are tried and tested globally, in multiple jurisdictions and proven to enable organizations to effectively manage their compliance programmes. In addition, we have consistently upgraded our solution on a bi-monthly cycle to ensure the software is best of breed, as well as expanding our functionality to deliver a uniquely integrated solution.

Where are you based?

The company headquarters is Dublin where the management, product, development and QA teams sit. We service the Worldwide (Non US) market from Dublin and the USA market from New York. We have a support centre in Hudson (upstate NY) and satellite offices in Indiana and Arizona. We have system users in over 30 countries and we are also a global partner of Thomson Reuters.

When was the company launched?

MCO is a brand of TerraNua, which was originally launched in 1998 by Fidelity Investments. The business became private with a management buyout in 2008.

What have been your biggest wins to date?

Compliance and risk is a very sensitive area and we are not able to disclose our clients for contractual reasons. We have over 450 clients across the globe, from the large insurance companies to the smallest broker dealers, helping firms manage from 50,000+ employees down to less than 10 employees.

What type of people (market segment) are you trying to attract to your product?

Traditionally we target firms operating in capital markets, especially in the USA where both regulation and enforcement are high. This includes hedge funds, broker dealers, registered investment advisors, pension funds and asset managers. We also target the wider financial services community including banks and insurance companies and the global corporate market.

Tell us about your team

CEO, Brian Fahey

Director of Product, John Kearney

Director of Development, George O’Shea

What are you long term plans for your product / company?

To position the business as the global leader in integrated solutions in RegTech. This demands the continued upgrade of our product and expansion of our solution set, all part of our roadmap.

How do people get in touch with you?

Visit our website www.mycomplianceoffice.com

Email advance@mycomplianceoffice.com

Twitter: @mycompliance

Linkedin: https://www.linkedin.com/company/mycomplianceoffice

Call Shane on (01) 424 7100

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at Simon@IrishTechNews.net or on Twitter: @SimonCocking