Top Risk and Compliance Solution Companies
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Top 10 Risk and Compliance Solution Companies - 2019

Almost a decade after the major financial crisis, the global banking industry is rapidly stabilizing with robust advancements in the corporate, investment, and transaction segments. Banking institutions and financial services are increasingly seeking to align their operations with the regulatory requirements, thus cementing consumer trust and ensuring seamless growth.

The incorporation of technological innovation is empowering the banking sector to automate its essential compliance functions and ease the regulatory pressure.  Organizations across the industry are shifting their strategies toward a more technological approach, enhancing their operating models to keep pace with the evolving trends.

Several operations performed by the compliance department are being delegated to the operational management, thus enabling compliance to manage risks without compromising business productivity. The shift has empowered the compliance sector to streamline and enhance its capabilities.

The rise of globalization, the emergence of new businesses, and the advancement of technology are changing the way banking organizations consider risk management. The evolving landscape is spurring regulators to introduce standardized rules and principles to ensure robust safeguards for customers and investors. To overcome the challenges in data and customer privacy, it is imperative for banking institutions and financial services to collaborate with robust solution providers and bolster their compliance.

Inspired by the innovative trends transforming the industry, Banking CIO Outlook has compiled a list of ‘Top 10 Risk and Compliance Solution Providers – 2019’ to highlight the companies making significant contributions to the banking world. In this edition, we have featured CRB Monitor, a firm empowering financial institutions to understand, identify, and manage cannabis-related risks and opportunities. The list includes Plus TI, a software development firm specializing in the prevention of financial crimes and optimization of institutional processes, thus promoting a safer financial world. Our features also comprise RegEd, a market-leading provider of RegTech enterprise solutions. The company is recognized for continuous regulatory technology innovation aimed at enhancing workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation, and compliance dashboards.

With powerful and innovative technological offerings, the solution providers are set to simplify and streamline the processes for banking organizations. This edition of Banking CIO Outlook is elaborately crafted to assist you in fostering productive partnerships and enhancing organizational growth through the integration of robust software solutions. We hope it enhances compliance and risk management processes in your companies.

We present to you Banking CIO Outlook, “Top 10 Risk and Compliance Solution Providers – 2019.”

    Top Risk and Compliance Solution Companies

  • The company's business model allows to sell their documentation solutions at a small fraction of the cost when compared to hiring a consultant to custom-develop documentation. The company focuses on Governance, Risk and Compliance (GRC) and they fully-understand cybersecurity and privacy are necessary for organizations to protect not only their clients, but their employees and partners. With the comprehensive documentation, they enable companies to efficiently become and stay compliant with common cybersecurity and privacy requirements

  • The company offers a cannabis-related corporate intelligence solution to help financial institutions effectively managing compliance risks of banking cannabis-related businesses. The CRB Monitor platform provides Compliance, AML, and BSA teams with independent, robust, reliable, and up-to-date corporate information on CRBs by aggregating publicly available, unstructured, and hard-to-find data from hundreds of disparate government and agency sources. After aggregating the unstructured data from these sources, the company offers a comprehensive, cloud-based database as a one-stop solution to managing compliance risks of banking CRBs. Whether it's to export highly-structured datasets for use with screening/monitoring software or search, research, and print detailed profiles of marijuana-related businesses and individuals, CRB Monitor does it all

  • Matrix-IFS offers specialized Consulting, Systems Integration and Managed Services which include: Trade Surveillance, Business Intelligence, Case Management, Fraud Risk Prevention, Compliance, Financial Operational Risk, Cloud and Cyber-Risk Management, and Advisory Services. More than 50 financial institutions, both top-tier & local banks, rely on Matrix-IFS’ solutions. Matrix-IFS is a division of Matrix IT Ltd, which has over 8,600 employees With their intimate knowledge of the predominant case management, compliance and fraud detection solutions on the market today. They help institutions establish the technology foundation of a top-performing fraud and compliance organization

  • The Monitor Plus portfolio is based on flexible products for real-time monitoring of financial and non-financial operations that combine advanced artificial intelligence technologies (including machine learning) with expert knowledge for a low friction integral analysis and defense with the client. Our product line provides coverage in: Fraud Prevention and Control, Fulfillment, GRC - Risk and Opportunity Management, Audit, Business, International Trade. The know-how gained from serving over 360 clients in five continents

  • RegEd is the market-leading provider of RegTech enterprise solutions with relationships with hundreds of enterprise clients, including 80% of the top 25 financial services firms. Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables their clients to cost-effectively comply with regulations and continuously mitigate risk

  • StarCompliance is mitigating the challenges in the compliance arena by delivering robust and innovative technology solutions that are simple and easy to buy, implement, and use. The first product, Employee Conflicts of Interest, allows firms to monitor employee-related compliance activity that includes personal trading, gifts and entertainment, outside business activity, and political donations. The company’s configurable platform manages the complex and burdensome processes associated with managing employee conflicts of interest and provides a 360-degree view of all employee activity and behavior. Their second product, Compliance Control Room, allows firms to manage compliance activities related to large financial transactions such as mergers and acquisitions, debt offerings, major investments, and IPOs

  • EXL


    EXL Services is a company that provides business process outsourcing services to global corporations. EXL an experts in more than analytics, operations management, and technology. Digital Intelligence is why companies in the world’s most complex industries—from insurance to healthcare, transportation—bring their toughest challenges, their seemingly impossible goals. Headquartered in New York, EXL has more than 29,000+ professionals in locations throughout the United States, Europe, Asia, Latin America, and South Africa. EXL is not just content to help their clients adapt to change. They aim at embolden them to lead the change

  • Metric Stream

    Metric Stream

    MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally

  • Riskonnect


    Riskonnect is the leading global integrated risk management solution provider that enables organizations to anticipate and manage strategic and operational risks across the extended enterprise. Its unique, holistic approach to integrated risk serves more than 900 companies across 6 continents. Riskonnect has operations in the Americas, Europe and Asia, employing more than 500 risk management experts

  • Virtusa


    Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of Digital Business Transformation, Digital Engineering, and Information Technology (IT) outsourcing services that accelerate our clients’ journey to their Digital Future. Virtusa engages its clients to re-imagine their business models and develop strategies to defend and grow their business by introducing innovative products and services, creating operational efficiency using digital labor, developing operational and IT platforms for the future, and rationalizing and modernizing existing IT applications infrastructure