Austin, Texas, March 05, 2024 (GLOBE NEWSWIRE) -- Red Oak Compliance Solutions, a leader in comprehensive intelligent compliance software solutions, today announced its acquisition of SiteQuest Compliance, a respected compliance monitoring and website surveillance software firm. This move to reshape the landscape of technology solutions within the financial services sector marks a pivotal moment in Red Oak's trajectory, emphasizing its commitment to innovation, customer-centric values, and an unwavering dedication to helping the financial services and insurance industries successfully navigate the complexities of the compliance and regulatory landscape.
Red Oak and SiteQuest have a long-shared commitment to empowering compliance teams with intelligent tools to streamline their processes and successfully meet regulatory requirements. This shared commitment to excellence and innovation will ensure their continued delivery of exceptional customer experiences alongside best-of-breed technology solutions. By combining forces with SiteQuest and harnessing the power of their Eagle Eye, SQWatcher, and Policies products, Red Oak Compliance is positioned to offer an even more powerful and innovative technology suite. Expanding their solutions to include the ability to monitor and publish social and digital content successfully will provide compliance teams with a set of comprehensive tools to further streamline their processes, minimize regulatory risks, and excel in a competitive market from a trusted industry leader.
Since 2010, Red Oak has been successfully delivering intelligent proprietary software backed by a robust customer-centric business model to the financial services and insurance industries across the globe. Their flagship advertising review software is a highly configurable workflow management system that automates the submission, review, approval, and disclosure processes for marketing materials. This helps compliance teams focus on mitigating risk to their firm and gain confidence in their operations, and marketing teams deliver compliant materials to market faster. The company also provides disclosure management and intelligence, which solves for the management and intelligent application of required disclosures, and registration and licensing management software, which centralizes the data and automates compliance requirements processes of registered representatives.
"We couldn't be more thrilled about this partnership," said Stephen Pope, CEO of Red Oak Compliance. "Our acquisition of SiteQuest is a testament to our dedication to helping compliance and marketing teams get compliant content to market faster with a cutting-edge software solution. When pursuing this relationship, we had a clear objective: to increase our customer solutions portfolio into the digital media space and further establish our leadership in the industry. This will allow us to do both at an accelerated rate. James and his team have built an incredible organization over the last 14 years, and we are eager to have them join the Red Oak family. The combined strengths of our organizations will allow us to deliver unparalleled value to our customers, improving the overall effectiveness of their compliance programs."
What makes this acquisition particularly exciting is the alignment of the complementary cultures between the two organizations, both with a client-first mentality. Their shared guiding principle of prioritizing clients' needs and enhancing their processes to reduce possible regulatory exposure will help secure a seamless integration and create a unified offering capable of delivering exceptional value to the clients they serve.
"This acquisition has been years in the making," said James Cello, CEO of SiteQuest Compliance. "It is a natural evolution of an already strong relationship that has existed for over a decade. I looked at this opportunity as a decision that was not only good for the company and our employees but also in the best interest of our customers. Our team is excited to start this next chapter as part of the Red Oak team. We are confident our synergies will deliver even more compelling solutions for compliance teams searching for intelligent technology to optimize their operations and reduce regulatory risk."
The integrated capabilities of Red Oak Compliance and SiteQuest Compliance will empower clients to enhance their processes and strengthen their internal controls. The united expertise and resources will enable firms to successfully navigate regulatory complexities with greater confidence, ensuring they remain compliant and have the opportunity to leverage technological innovations.
As Red Oak embarks on this new journey, clients can expect to receive an expanded and more robust suite of solutions backed by continued industry-leading customer support and product reliability.
ABOUT RED OAK
Red Oak Compliance Solutions is the global advertising review software of choice in the financial services and insurance industries, serving over 1,800 firms globally, ranging from single-state advisors to over half of the top 20 asset managers. Powered by AI, their flagship advertising compliance review software offers quick implementation timelines and agile technology that is 100% Books and Records/WORM compliant. Clients of Red Oak typically see 35% faster approvals and 70% fewer touches, with many experiencing even better results. Red Oak allows firms to minimize risk, reduce costs, and improve compliance review process effectiveness and efficiency. To learn more about Red Oak Compliance Solutions, visit www.redoakcompliance.com or follow them on LinkedIn.
ABOUT SITEQUEST
SiteQuest Compliance is a full-service compliance monitoring/surveillance software firm specializing in website and internet monitoring and surveillance for numerous large brokers/dealers nationwide. SiteQuest was founded on the principle that sound compliance monitoring and management are key to success in today's financial services industry. With the increasing focus on compliance and regulation, coupled with the market trend towards social and cloud-based sales and service, the importance of a company's ability to monitor and track findings regarding its employees' interactions on the internet is becoming increasingly important. You can learn more about these solutions by visiting the Red Oak website.
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