With so much regulation, growing in complexity and volume, compliance feels like a cost of doing business for many companies, a burden even. Yet, through technology, compliance management can drive business growth, even become a competitive advantage, helping win and retain business.
In many cases, compliance officers still struggle with how to best support their firm’s growth while facing the mandate to do more with less. As companies rely on technology to conduct business more than ever, risks have multiplied and increased in complexity, particularly around insider trading, electronic communications and cybersecurity. Compliance officers must adjust the scope of their oversight as well as their techniques for conducting that oversight.
Compliance officers often face a mandate to do more with less. By integrating technology, they can:
- Centralise compliance activities: Track and monitor compliance from a single platform
- Automate manual tasks: Use automation to eliminate tedious tasks, saving time and reducing errors
- Improve data consistency: Ensure compliance data is accurate, reliable, and secure across the organisation
With the majority of compliance costs originating from manual processes, automation can significantly enhance efficiency, allowing officers to focus on higher-value tasks.
Compliance is becoming smarter, leveraging data-driven automation
Compliance generates large amounts of data that must be analysed and reported accurately. Data-driven automation makes it possible to:
- Streamline data analysis: Automated processes reduce manual effort in data handling
- Scale service delivery: Advisors can serve more clients with less administrative burden
- Enhance security: Robust data handling improves compliance with regulatory standards
This requires technology that is smart enough to address all these challenges, but simple enough to install, use and maintain.
Through data-driven automation, organisations will be able to their operating models, enabling advisers to deliver improved service to significantly more clients whilst reducing the administrative burden with each advice case.
Technology providers like Complii are becoming the backbone of capital markets by creating solutions that will further digitise compliance in the financial system.
Compliance Technology will help fulfil the pursuit of a regulatory framework for the digital age, driving further clarity and efficiency into how regulation is interpreted, how compliance is managed and how reporting is and will be automated.
Cloud-based platforms are transforming compliance with AI, adaptive algorithms, and predictive analytics. These solutions bring compliance closer to real-time, helping firms stay agile in adapting to regulatory changes.
Benefits of cloud-based compliance technology include:
- Automatic regulatory updates: Advanced AI interprets new regulations efficiently
- Real-time compliance reporting: Timely reporting keeps firms up-to-date with regulatory requirements
- Cost efficiency: Minimise resources spent on managing fragmented or inflexible vendor solutions
Integrated platforms are the next step
Having to deal with many different vendors to meet their requirements – which isn’t fit for purpose for most organisations: it is over-complicated and the different solutions are often not easily integrated together. Integrated, end to end platforms from a single vendor, covering all required functions, is the way forward. Indeed, thinking about compliance solutions from a platform perspective, along the whole corporate lifecycle, will support the ability to build-out new use cases quickly and integrate third-party sources at reduced cost.
And given tighter compliance budgets, software that looks more like platforms upon which users can customize, configure, and self-service their own unique needs will gain in importance. This “buy-to-build” option avoids the upfront costs of coding from scratch and avoids the costs of having to swap out inflexible vendors.
Many organisations rely on multiple vendors for compliance, leading to complex, often incompatible solutions. Integrated, end-to-end platforms offer:
- Unified compliance management: A single vendor platform that covers all compliance functions
- Customisable solutions: Allows organisations to “buy-to-build,” adapting the platform to unique needs
- Reduced costs: Avoid the high costs of building custom systems by consolidating onto one flexible platform
Thinking about compliance solutions from a platform perspective across the corporate lifecycle allows for faster rollout of new use cases and seamless third-party integration at a lower cost.
A ‘one-stop-shop’ solution
This is where Complii can help: an end-to-end, integrated compliance platform with a modular approach and ad hoc customisation.
Our secure digital platform is based on customisable software designed to automate, record and report on an AFS Licensee’s and Brokers’ compliance obligations.
These include registry services at inception of a corporation, unlisted trading facilities (pre-IPO), capital raising (seed round + IPO listing) administration tools and shareholder services (post listing), plus all the compliance controls required for those dealing for and in capital markets.
Complii provides an integrated risk and compliance platform that’s customisable and modular. Here’s what Complii’s platform offers:
- Comprehensive compliance tools: Manage AFS Licensee and Broker compliance obligations with ease
- Customisable modules: Tailor the platform to meet specific needs with ad hoc customisation options
- Automated reporting and recording: Streamline regulatory reporting with secure, real-time data handling
Ready to transform compliance into a competitive edge?
Don’t let complex regulations slow your growth. With Complii’s powerful, end-to-end compliance platform, you can streamline processes, reduce costs, and turn compliance into a true advantage. Let us show you how easy it can be to elevate your compliance strategy. Get started today and discover a smarter, more efficient path to compliance.