New Survey from Kompliant and Equifax Highlights the Importance of Advanced Compliance Technology in Maintaining a Competitive Advantage

Rhea-AI Summary

Equifax (NYSE: EFX) and Kompliant released a comprehensive survey revealing how financial organizations are leveraging compliance technology. The study, which surveyed 500 financial technology professionals, found that 99% of financial services organizations now rely on compliance technology, with 55% implementing AI/ML solutions.

Key findings show that 56% of organizations involve their CEO in compliance technology decisions, and 90% believe technological advancement is crucial for competitive advantage. Additionally, 68% express caution about adopting emerging technologies due to security concerns. The survey highlights a shift from viewing compliance as a cost center to seeing it as a revenue driver and competitive differentiator.

Positive

• 99% of financial services organizations have adopted compliance technology, showing strong market validation
• Partnership between Equifax and Kompliant strengthens fraud prevention and risk management services
• 55% of firms are implementing AI/ML for compliance, indicating technological advancement
• 90% of institutions recognize tech advancement as critical for competitive advantage

Negative

• 68% of organizations remain cautious about adopting emerging technologies due to security concerns

As C-suite executives lead compliance decisions, 55% of financial firms are implementing intelligent solutions to streamline risk management

SAN JOSE, Calif. and BOISE, Idaho, June 26, 2025 /PRNewswire/ -- Transforming the compliance landscape from burden to business advantage, Kompliant, a leader in intelligent compliance automation, and Equifax^® (NYSE: EFX), released groundbreaking survey findings revealing how financial organizations are converting compliance investments into competitive advantages and revenue opportunities.

Kompliant & Equifax reveal tech's role in compliance and driving revenue.

The inaugural "From Cost Center to Revenue Driver: The Current Compliance Landscape for Financial Organizations" survey analyzed responses from 500 financial technology professionals across banking and finance industries, ranging from managers to C-suite executives. These findings showcase how financial services organizations are leveraging advanced compliance technology to fuel growth, and how technology is enabling compliance to drive revenue and reduce costs, such as fines.

"This survey comes at a pivotal time for the financial services industry, which is navigating increasingly complex regulations as well as potentially transformative technological innovations in the compliance space," said Leo Patching, the CEO and co-founder of Kompliant. "The majority of financial services organizations are leveraging technology to perform daily or weekly compliance and finding ways to streamline the process is critical. Services like Kompliant allow these companies to lower costs while maintaining security and compliance standards. We look forward to using these findings to inform further innovations with our intuitive platform."

Key survey findings include:

C-Suite Ownership Drives Compliance Strategy

• 56% of financial organizations involve their CEO directly in compliance technology decisions, signaling the strategic importance of these investments
• 90% of institutions believe technological advancement is critical to maintaining a competitive advantage in risk management

Automated Compliance: The New Industry Standard

• 99% of financial services organizations now rely on compliance technology
• 55% of financial firms are exploring or implementing AI/ML for compliance functions, making it the top emerging technology
• 50% seek real-time risk monitoring capabilities and 47% want advanced AI analytics
• 68% remain cautious about adopting emerging technologies due to security concerns

"The findings in this survey showcase the need for intuitive compliance programs that prioritize security while providing financial services organizations the technological advancements they need to innovate in the industry," said Scott Pryzbala, Senior Vice President, Payment Sales of Equifax Digital Solutions. "Our partnership with Kompliant delivers industry-leading fraud prevention and risk management services that address these priorities while streamlining processes in cost-effective and user-friendly ways."

Kompliant and Equifax first announced their partnership in the merchant-underwriting space in July 2024. Kompliant leverages Equifax Digital Services' Payment Fraud solutions to analyze data from an online purchase or transaction in its fraud and risk management protocols.

They also released a white paper detailing the survey findings and showcasing the potential of compliance technology in transforming the current landscape. Financial institutions need innovative and cost-effective compliance solutions that unlock opportunity rather than serve as cost centers, easing the distance between the systems of yesterday and tomorrow. Reducing employee time and touch, while maintaining security and accuracy, are key features of technology tools that will fuel growth as well as financial organizations' bottom lines.

"Addressing customer needs is top of mind at Kompliant, where we work to support real-time compliance processes with minimal friction and headache," said Casey Zenner, Chief Revenue Officer at Kompliant. "Knowing our customers' pain points and considerations when weighing new platforms and protocols helps us continue to innovate, and provide the leading compliance programming for modern financial organizations."

For the full survey white paper, click here.

Methodology: Kompliant and Equifax fielded survey responses from 500 financial technology professionals in the banking and finance industries. Employees answered a variety of questions regarding what technology financial services their companies are looking for and what kind of compliance challenges their teams face. The survey was conducted through 500 online interviews throughout the United States during the week of December 2, 2024.

About Kompliant

Kompliant is a pioneer in compliance orchestration with a platform for growth-focused financial institutions. Kompliant provides intelligent automation and solutions that power commerce compliance. Kompliant's technology is designed to streamline risk management, enhance operational efficiency, and support strategic decisions through advanced data analytics. For more information, visit kompliant.com.

Media Contact:

Emily Baker
emily@kompliant.com
202-744-7567

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-survey-from-kompliant-and-equifax-highlights-the-importance-of-advanced-compliance-technology-in-maintaining-a-competitive-advantage-302491392.html

SOURCE Kompliant

FAQ

What are the key findings of the Equifax (EFX) and Kompliant compliance survey?

The survey found that 99% of financial organizations use compliance technology, 56% involve CEOs in compliance decisions, and 55% are implementing AI/ML solutions. Additionally, 90% believe technological advancement is crucial for competitive advantage.

How many financial technology professionals participated in the Equifax compliance survey?

The survey included 500 financial technology professionals from the banking and finance industries across the United States, conducted in December 2024.

What percentage of financial firms are implementing AI/ML for compliance according to the Equifax survey?

55% of financial firms are exploring or implementing AI/ML for compliance functions, making it the top emerging technology in the sector.

What are the main concerns financial organizations have about compliance technology?

68% of organizations express caution about adopting emerging technologies due to security concerns, while 50% seek real-time risk monitoring capabilities.

When did Equifax and Kompliant announce their partnership?

Equifax and Kompliant announced their partnership in the merchant-underwriting space in July 2024.