Austin, Texas, July 11, 2023 (GLOBE NEWSWIRE) -- Red Oak Compliance Solutions, a leader in comprehensive intelligent compliance software solutions, was recently named to the AI FINTECH 100.
The AI FINTECH 100 is an annual list of 100 of the world's most innovative AI solution providers for financial services. Companies are selected for the list by a group of industry experts and are evaluated on various factors, including industry significance of the problem being solved; growth in capital raised, revenue, customer traction; and innovation of the AI technology solution offered.
According to Red Oak leadership, the company continues to gain visibility and traction in the financial services and insurance industries. "Our customers are looking for intelligent tools that transform their processes, so they can more effectively utilize resources and continue to keep pace with the market," said Stephen Pope, CEO and co-founder of Red Oak Compliance Solutions. "By developing AI-based tools to support our customers, we make their processes more effective and efficient, help to ensure we reduce their regulatory exposure, and leaders to focus more of their key resources on higher priority strategic work."
Red Oak's advertising compliance review technology is used by more than half of the top asset managers in the world. Last year, Red Oak customers reviewed and submitted over 6.7 million documents and made over 15,000 submissions to FINRA. The company's Smart Review technology utilizes intelligence to streamline the disclosure management and application process, further aiding risk mitigation for companies producing high volumes of marketing collateral. Powered by AI, Smart Review flagged over 800,000 potentially missed disclosures for customers last year, streamlining the review process by allowing content creators to make adjustments and apply the correct regulatory language before submitting for final compliance review. Using Red Oak's technology saves the average customer time and resources, with 35 percent faster approvals and 70 percent fewer touches in the review process.
Red Oak continues to be recognized as an industry leader and a steadily growing software company by multiple publications and organizations, including the Financial Times, Inc. Magazine, and RegTech100. To see the full list of companies included in the AI FINTECH 100, visit their website.
About Red Oak Compliance Solutions
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. 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 increase compliance review process effectiveness and efficiencies. To learn more about Red Oak Compliance Solutions, visit www.redoak.com or follow them on LinkedIn.
