Global banking and investment firm streamlines licensing and saves hours per day with MyComplianceOffice (MCO).
INDUSTRY: Banking and Investment
COMPANY SIZE: Global Firm
LOCATION: Australia
The Company
A prominent Australian financial services brand operating globally across asset management, retail and business banking, wealth management, and advisory and risk solutions.
The Challenge
Before adopting MCO, the firm’s Compliance Teams relied on a complex mix of emails, spreadsheets, PDFs, and Word documents. They used an in-house system, functioning as a “glorified spreadsheet” to manually track licence records, such as new starter and staff transfer licensing requirements. The firm's fragmented approach created inefficiencies, increased the risk of error, and left compliance staff with less time to focus on higher-value oversight activities.
The MCO (MyComplianceOffice) Solution
The firm selected MyComplianceOffice (MCO) to streamline licensing and registration management across its regions. With direct integrations into the firm’s HR data, MCO now automates the identification of new hires, internal transfers, and employee exits, ensuring that licensing requirement notifications are triggered automatically.
The move to MCO also enabled automated workflows that eliminated redundant communications and centralised compliance tasks. Business stakeholders now have dashboard visibility of licensing statuses, updated daily, enhancing confidence in the data and the processes supporting it. This visibility enables the firm to identify gaps and understand licensing requirements for staff transfers quickly, effectively, and accurately.
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