Overview

In the rapidly evolving world of fintech, regulatory compliance is a crucial factor in ensuring long-term success and stability. CoreOS.Inc, a leading provider of financial software solutions, faced the challenge of maintaining compliance in a stringent regulatory environment while fostering innovation. CoreOS partnered with LexAdvise to streamline its compliance processes, allowing it to meet evolving regulatory requirements without compromising on innovation.

Challenge

CoreOS.Inc operates in a highly regulated space, serving financial institutions with technology solutions that must meet strict compliance standards, including data security, anti-money laundering (AML), and fraud prevention. This framework had to:

• Ensure compliance with changing international, national, and local laws.

• Support a seamless integration of new regulatory requirements without slowing down product development.

• Minimize risk exposure while maintaining operational efficiency and agility.

Solution

LexAdvise worked closely with CoreOS.Inc to create a custom compliance strategy aligned with the company's goals for innovation and growth. This strategy included:

• Regulatory Assessment and Framework Development:
  LexAdvise conducted a thorough assessment of CoreOS’s operations and existing compliance measures, identifying areas that required enhancement.

• Automated Compliance Monitoring:
  Implementing an automated system for monitoring regulatory changes, LexAdvise ensured CoreOS could adapt quickly to new requirements.

• Employee Training and Support:
  CoreOS’s team, focusing on core compliance areas like data protection, AML, and fraud detection. This program equipped employees to stay updated on best practices and regulatory standards.

Results

The compliance strategy developed by LexAdvise empowered CoreOS.Inc to drive innovation confidently, knowing it had a resilient compliance foundation. Key outcomes included:

• 90% Reduction in Compliance Violations:
  Through automated monitoring and training, CoreOS achieved a substantial reduction in compliance violations within the first six months of implementation.

• Accelerated Product Launches:
  With LexAdvise's support, CoreOS was able to streamline regulatory approvals, resulting in faster time-to-market for new products and features.

• Enhanced Trust and Reputation:
  By staying compliant and proactive, CoreOS strengthened its reputation among financial institutions and regulatory bodies, setting itself apart as a reliable and forward-thinking fintech partner.