Buy-side compliance: Firms seek customizability and automation

This WatersTechnology rapid read explores the types of compliance systems currently in place at buy-side firms, their efficacy, the need to improve automation levels, demand for customizability and the factors preventing buy-side firms replacing incumbent tools.

Key findings: 

  • Only 19% of respondents report that their firms' compliance platforms fully support the needs of their businesses and are fit for purpose, while 81% believe the effectiveness of their compliance platforms could be improved.
  • 10% consider their current platform unsuitable for the needs of their businesses, while 13% are actively looking for a replacement system.
  • More than half of firms believe their compliance functions are too manually intensive, while 42% struggle with understanding the minutiae of the regulations they are subject to and how they translate into technology and operational workflows.
  • The issues preventing firms from moving away from their current provider include culture, the need for customized solutions and contractual matters.