Top 10 Technology Compliance Services Companies - 2022
Modern businesses have to deal with a broad spectrum of issues that dampen the effectiveness of compliance practices. Some of the most pressing problems are manual and time-consuming processes, inability to keep pace with regulatory changes, lack of valuable security insights, and siloed approaches to governance and risk management. Leveraging digital transformation initiatives into compliance management can resolve all issues and help organizations proactively manage and comply with continually shifting regulations.
Automated interactions with customers and employees are among the significant digital transformation trends that continue to grow exponentially. AI and ML-based chatbots are being steadily adopted to eliminate time-consuming manual compliance-related activities. Robotic process automation (RPA) is another advanced technology that can streamline workflows and reduce manual effort. RPA software tools can automate report generation and delivery, e-mail circulation, status updates, notifications, change tracking, and different asset compliance processes. In the wake of these developments, the global compliance technology market is projected to reach a CAGR of 8.5 percent by 2025.
To put the spotlight on such key developments, CIOReview illustrates how compliance technology providers are leveraging the latest technologies. This edition also features thought leadership articles from subject matter experts. Some of the exclusive insights are authored by Robert Walsh, Deputy CCO at AXA Group, and John Entwistle, Senior Vice President, Compliance Systems at Brown Brothers Harriman. They shed light on the role of technology in enhancing compliance programs, evolving financial crime regulatory landscape, and low code systems to improve compliance KYC process.
In this edition of CIOReview magazine, we also bring to you the story of some of the most promising compliance technology solutions providers. In the list, CyberCatch stands out for its innovative cybersecurity SaaS solution tailored for SMBs to identify ‘security holes’ caused by missing or ineffective cybersecurity controls. We also bring you the story of SolasAI, 11Foundry, and Pinpoint, who are making compliance simple with technology. MyWorkDrive, Grindstone, Safefood 360,and Tower MSA Partners are also pushing the bounds of compliance technology and empowering clients in evolving compliance landscape.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the compliance segment. We would like to know your thoughts.