Global conduct risk and compliance technology provider MyComplianceOffice (MCO) has placed in the Deloitte Technology Fast 50 Ireland for the third consecutive year and won the Scale Up Award.
Now in its 23rd year, the Deloitte Technology Fast 50 Ireland is a ranking of the country’s 50 fastest growing, indigenous technology companies based on revenue growth over the previous four years. The average revenue of companies featured in the ranking was approximately €10m, while the average growth rate of the companies over the last four years was 594%. The winners were announced at an awards ceremony at Mansion House, Dublin on the 24th November.
In addition to placing in the ranking, MCO also collected the Deloitte Patron Scale Up award in association with Scale Ireland, an independent, not for profit organisation supporting Irish start up and scale up technology companies. The Scale Up award is for those companies that have demonstrated an impressive ability to scale up or expand overseas during the last four years.
Brian Fahey, CEO, MCO said, “We are delighted to place once again in the prestigious Deloitte Technology Fast 50 Ranking and to be named winner of the Scale Up award. 2022 has been a milestone year for MCO. We have scaled more quickly than ever before thanks to our largest acquisition to date – that of Schwab Compliance Technologies (SCT) - and the launch of our new Know Your Risk (KYR) Product.”
The acquisition of SCT in May 2022 saw MCO increase its number of client firms from 500 to over 1,300 in 105 countries. MCO also opened a new office in Chicago following the acquisition from which to serve its newest clients.
David Shanahan, Partner at Deloitte Ireland, commented, “Congratulations to all of the companies that ranked this year. As the business environment becomes more complex, the Irish technology sector has shown great resilience and tenacity. This year’s ranking shows growth across a broad range of sectors with companies coming up with innovative solutions to address changing consumer and business demands while faced with adversity. Despite the challenges of late, the Irish indigenous tech sector continues to succeed.”
Today, MCO is the largest Irish-owned RegTech firm and has been adopted by several companies in the capital markets space to automate surveillance and monitoring of misconduct risk across a firm’s legal entities, business lines, and jurisdictions. It services the largest financial services firms in the world including: 11 of the top 50 global banks, five of the world’s 20 largest asset managers, and two of the top ten US insurance firms.
Full details on the Deloitte Technology Fast 50 Ranking can be found at www.fast50.ie.