Compliance officers today are under increased pressure from regulators. It is impossible for compliance officers to achieve perfection in their compliance program without sufficient resources. Regulators are expecting more from firms, compliance departments and compliance officers with new rules and regulations and the increase in available data. Compliance officers are also fearful of personal liability and are looking for solutions to help minimize their risk with technology based tools. Most compliance departments are receiving paper based reports to be analyzed manually which are inefficient, costly and prone to error.
FinWebTech was started based on the needs of one such Chief Compliance Officer who was in search of a cost effective automated compliance solution to make compliance programs more efficient, robust and minimize overall risk. The Catalyst automated compliance system was developed to provide all firms with access to technology through a low cost but highly effective solution. FinWebTech’s mission is to provide high quality compliance automation tools to firms of all sizes. To do this FinWebTech has priced the application so that small, medium and large firms have access to this much needed technology with low set up and monthly fees.
FinWebTech’s Catalyst Automated Compliance Solution is unique in that it was designed by an experience compliance officer who took the major components of compliance (Supervision, Monitoring, Risk Management) and developed a system through the eyes of compliance for compliance.
Don Lee, CAMS, MBA – Founder and Chief Executive Officer
Don has over 15 years of experience in the financial services industry. His experience started with the design of a self directed online broker dealer application WallStreet*E which won several accolades from Smart Money and Barons in their respective annual ‘Best of the Web’ rankings. Don’s experience expanded into the design of a Broker Work Station application for Independent Brokers and an Intranet to automate the firm’s back office processes. Don’s experience also encompassed managing the equity and options trading desk and broker dealer operations. Don’s experience expanded into C-level roles as the Chief Operations Officer and Chief Compliance Officer/ AMLCO. Don’s diverse experience between technology and broker dealer operations and compliance has given him the unique talent to marry the two creating a technology solution with real life tools and experience.
Mark Edwards – Chief Technology Officer