MyComplianceOffice (MCO), a distinguished conduct risk and compliance technology provider, is set to acquire Fairwords, an innovator in AI-powered electronic communications software.
The integration of Fairwords’ state-of-the-art system is set to revolutionise MCO’s global compliance offerings, creating a more robust, streamlined risk management solution.
The primary motivation for this acquisition is MCO’s commitment to providing cutting-edge, comprehensive compliance solutions. With the integration of Fairwords’ groundbreaking AI technology, MCO aims to bolster its position as a leader in the global compliance technology market. The financial terms of this deal have not been disclosed.
MCO is known for its robust compliance management software, widely adopted by companies globally to mitigate the risk of misconduct and oversee regulatory obligations. With a unique, integrated platform, MCO effectively addresses transactional and personal conflicts of interest, providing evidence of regulatory compliance.
Fairwords, on the other hand, is a pioneer in AI-powered electronic communications software. Its unique offerings include a system that captures digital communications, enforces policies proactively, and offers on-the-go employee training. The software also empowers compliance leaders with proactive training, analytics, and archiving to avert communications risks, compliance crises, and lawsuits.
The acquisition of Fairwords is set to expand MCO’s integrated surveillance solution to encompass digital communications, thereby strengthening its ability to identify potential compliance issues. It will also enhance MCO customers’ ability to ensure communications compliance across various channels while fostering a robust culture of compliance within their organisations.
“MCO believes that non-compliant communications can have severe consequences in highly regulated industries. We recognised that Fairwords offers a unique solution to address these challenges,” MCO CEO Brian Fahey said. “With this acquisition, we will further augment our solution for exceptional integrated surveillance capability across all transactions, employees, and third-party entities. We are thrilled to welcome Fairwords, its talented team, and customers to the MCO family.”
Fairwords CEO Tom Bubeck added, “The AI technology developed by Fairwords is years ahead of its competitors, as is MCO’s compliance technology. Throughout the due diligence process, we concluded that MCO’s dedication and investment in the surveillance space make it the ideal home for our team and clients. I have no doubt that our customers will be extremely satisfied with MCO for many years to come.”
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