MYCOMPLIANCEOFFICE ENHANCES GOVERNANCE, RISK MANAGEMENT FOR FINANCIAL INSTITUTIONS

KUALA LUMPUR, Sept 18 (Bernama) -- MyComplianceOffice (MCO), a provider of compliance technology, has announced new enhancements to its platform aimed at strengthening governance, reducing operational risk and accelerating decision-making for financial services firms and banks.

The latest update builds on its mission to provide a single system and data set that simplifies compliance management, improves oversight and enables faster response to issues.

MCO chief executive officer, Brian Fahey said the release reinforces MCO’s long-standing commitment to simplifying compliance while strengthening governance and oversight.

“Our platform is designed to give compliance teams the tools they need to act quickly, decisively and with confidence,” he said in a statement.

The enhanced platform supports compliance programmes across key areas, including employee personal trading, communications surveillance, gifts and entertainment, political contributions, outside business activities, connected persons, licensing and registrations, deal review, compliance obligation management and third-party due diligence.

The latest enhancements to the MyComplianceOffice platform significantly improve visibility and task management by introducing features like dynamic compliance calendars, configurable currencies, and more streamlined workflows, allowing for faster issue resolution.

Oversight is strengthened through improved impersonation session logging with mandatory reason capture, and the addition of legal hold functionality ensures sensitive internal data is preserved. Governance is bolstered by expanded audit histories and more sophisticated reporting, while multi-firm rule aggregation prevents policy circumvention and enhances overall transparency.

Operational efficiency is increased through automation, including the auto-closure of trade pre-clearance assignments and automated notifications for denied trades. The platform now also covers structured products such as covered warrants, ensuring more comprehensive conflict checks.

For larger, more complex compliance programmes, the updates offer enhanced scalability with bulk assignment handling, faster deactivation of deal restrictions, and more granular permission controls—making it easier to manage compliance across teams and jurisdictions.

-- BERNAMA