Case Study
Ava Trade establishes a single source of truth with VComply
Avatrade sees swift value from VComply. Achieved zero compliance violations and 100% timely completion of compliance obligations.
Company Size
500+ Employees
Online Trading

About AVA Trade

Ava Trade is an online trading platform that provides access to financial markets – including shares, forex, and Indices. The company now has four offices in Japan, Australia, Ireland, and the British Virgin Islands. They have over 300,000 traders across 150 countries and report two million trades monthly, accounting for £60 billion in volume.
Increase in employee accountability
Increase in timely task completion
Reduction in compliance penalties & issues

The Challenge

Ava Trade is an online trading platform having Operations in multiple locations across the globe. Every country has a different set of regulations to comply with. Missing any regulations attract huge penalties. They are also exposed to AML risk and must do a stringent AML risk assessment of all customers and individual transactions. Payments for various registrations needed to be completed before the deadline.

Before VComply, they relied on excel spreadsheets and Outlook for assessing compliance data and regulations. The spreadsheets provided limited visibility into the organization’s risk and compliance status, and there was no central point of truth for this information.The data was in silos, and they couldn’t hold individuals accountable for completing compliance responsibilities on time. All these resulted in missed items on checklists and overshooting deadlines for all compliance regulations assessments.
“Before VComply, we were using spreadsheets, outlook and other in house tools to drive compliance. The data was in silos and there was no visibility. We overshot compliance deadlines and was grappling with penalties.”
Chief compliance officer

The Outcome

VComply helped Ava Trade ease the burden of regulatory filing by pre-populating the form with all relevant details for regulatory requirements. It helped oversee all compliance programs through a comprehensive analytics dashboard for multiple locations and teams.

Ava Trade could use various compliance reports and internal audits to uncover the potential risk areas and plug the gaps. With VComply, Ava Trade got automatic status updates, compliance task notifications, and verified uploaded evidence with a button click. VComply acted as a repository for anything that needed to be done. After using VComply, there have been no missed deadlines or missed registration payments.

Why VComply

Solving the Complexity of Compliance. The Only GRC platform for dissolving silos and security risks
14 days from Purchase to Implementation
50% reduction in
time spent on compliance tasks
Better risk visibility with risk intelligence

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