Why you need an innovation partner not a supplier to support your compliance needs

Striking a balance between identifying and complying with existing regulation and preparing for new regulatory changes remains a continual concern for all businesses.

Getting it wrong can mean hefty fines or even prison sentences. Getting it right is therefore the only option.

It is no longer enough to simply implement a solution for today’s compliance problem, you need to be constantly thinking ahead and preparing for the compliance problems of tomorrow.

To stay ahead of, respond to, and cope with regulatory change you need to invest in a Regulatory Technology (RegTech) supplier that will better understand and manage the changing risks to your business.

You need a supplier who can integrate RegTech solutions easily, efficiently and cost effectively into your existing compliance systems, without disrupting current processes.

More importantly, you need a RegTech supplier to help ensure you not only meet compliance requirements of today, but will continually find innovative solutions for tomorrow’s challenges.

So, where can you find such a RegTech supplier?

At Contego, we’ve witnessed a number of our early key clients increasingly treat us as not just their supplier, but as their innovation partner.

We believe that embracing RegTech solutions can have a transformative positive effect on your business and therefore should be seen as a competitive advantage. Developing the right RegTech solutions will enable you to simplify due diligence checks, improve the customer onboarding experience, streamline operations and ultimately reduce your risk.

We go far beyond simply listening to your requirements, understanding your problem and delivering to you a solution. We differentiate ourselves through our understanding of what is happening within the market, our expert knowledge of alternative and useful data sources, and our ability to keep up to date on emerging technologies which can be brought to bear on future fraud, compliance, and customer onboarding and monitoring requirements.

When dynamic FinTech business, Modulr, sought a risk-scoring and ID verification platform that could not only meet its complex compliance requirements of today, but also maintain its legal obligations for tomorrow, Contego was the natural fit. Modulr is a new FinTech solution in the world of automated payments, to read more on how we helped Modulr’s future growth please read our case study.

As an innovation partner, Contego are constantly seeking and developing new, innovative ideas and technologies for our clients. We position ourselves as a solution for not only today’s problems, but tomorrows too; a quality which is often found to be lacking with the larger ‘monopoly’ suppliers.

In our latest video, Contego’s CEO, Adrian Black, discusses why our clients see us as their innovation partner, and not just as their supplier.

So, what are your RegTech needs?

We pride ourselves on really listening to your compliance pain, fully understanding your RegTech requirements of today and helping to prepare your business for the complex regulatory changes of tomorrow.

If you feel you are constantly playing catch up with changing regulations and want to learn more about how RegTech solutions can tackle increasing and new emerging threats, keep regulators at bay and be used as a competitive advantage, call us on +44 (0) 1235 375 000 or visit our website and request a demo.