From: RegTech Analyst
FinTechs, credit unions and the finance industry have a growing mountain of rules to comply to, but a new startup is hoping to help.
InFront Compliance has officially launched to provide new solutions to help vendors better manage their risk.
“Many organisations are still using spreadsheets to manage their compliance requirements, which is an outdated and inefficient practice that exposes them to unnecessary risk,” said Alia Luria, co-founder and CTO at InFront Compliance. “Our scalable solution is poised to help companies reduce their compliance costs, create a culture of accountability and empower innovation.”
The platform includes a library of compliance assessments written in plain language to make it easy for compliance officers to understand what they need to do to comply, digital reporting tools that can produce at-a-glance overviews and detailed audit trails, vendor comparison capabilities, dynamic workflows that allow for seamless delegation and collaboration across multiple departments, and a notification function to ensure companies are continually apprised of the latest regulations and are reminded to recertify, as needed.
“As long-time technology lawyers, we have observed the frustrations and costs that business leaders encounter in trying to keep up with constantly evolving regulations,” said Melissa Koch, co-founder and CEO of InFront Compliance. “We knew there had to be a better way – that’s why we built a solution that makes it easy for stakeholders across all departments to remain apprised of, and compliant with, regulatory requirements. Furthermore, we enable them to identify any blind spots in their vendors’ compliance, which can accelerate contract closing and drive business growth.”
InFront Compliance is an alumnus of the highly selective Barclays Accelerator, powered by Techstars in Tel Aviv.
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