Conduct risk and compliance technology provider MyComplianceOffice Inc. (MCO) has acquired Fairwords, developer of AI-powered electronic communications software that captures digital communications while proactively enforcing policy. Terms of the transaction weren’t disclosed.
Fairwords’ communications compliance software provides proactive training, analytics, and archiving to mitigate communications risks and prevent compliance crises and lawsuits. Using the system, compliance teams can monitor and flag risky communications, while archiving digital messages in compliance with regulatory requirements.
According to MCO CEO Brian Fahey, “With this acquisition, we will further augment our solution for exceptional integrated surveillance capability across all transactions, employees, and third-party entities.”
For MCO, the acquisition adds value in two ways. First, it will underpin the expansion of MCO’s integrated surveillance solution to encompass digital communications, thereby strengthening its ability to identify potential compliance issues. Second, it will enhance MCO customers’ ability to ensure communications compliance across various channels while fostering a robust culture of compliance within their organizations.
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