Comply Exchange increases efficiency and automates the adoption of AI in a 15+ year partnership
This UK-based fintech leader optimizes tax compliance for global institutions, reducing processing times from weeks to hours while expanding its regulatory technology platform.
Industry
Financial Services
Challenge
Comply Exchange needed to automate manual workflows and modernize legacy infrastructure to efficiently manage sensitive financial data across an expanding range of client environments.
Outcome Comply Exchange reduced document processing time from weeks to less than one working day using DevOps automation and FAIR™. Solutions Optimizer+, Foundry for AI by Rackspace (FAIR™) Platforms Microsoft AzureProfessional & Managed Services
Rackspace Modern Operations, Professional ServicesCustomer
Comply Exchange develops automated tax compliance solutions that help financial institutions navigate specialized regulatory requirements. Founded in 2009 in Tadworth, Surrey, the company has grown from a small team of six to more than 35 employees, serving multinational organizations, major banks, private equity firms and many of the top ten accounting firms across Europe and North America.
The company's software automates the collection and validation of tax documentation against IRS regulations and international frameworks like the Foreign Account Tax Compliance Act (FATCA) and the Organisation for Economic Co-operation and Development's (OECD) Common Reporting Standard (CRS).
"Whenever there's a critical milestone or delivery deadline we must hit for a client, the Rackspace team is there to help us deliver what we need. In all the years of our partnership, they've consistently come through at the moments that matter most."
Situation
In 2010, Comply Exchange set out to modernize its infrastructure to better support its growing client base and the secure handling of highly confidential financial data. Recognizing the stringent and evolving demands of financial institutions, the company prioritized implementing robust systems designed to protect sensitive information.
"The information that is going through our product is absolutely top-tier information," said David Marley, founder and CEO of Comply Exchange. “The data managed through our product is of the highest importance to our clients. We handle information that supports compliance for financial institutions, investment entities and corporate clients — and we must ensure the strictest confidentiality and security for all sensitive data entrusted to us."
To address these needs, Comply Exchange forged a pivotal partnership with Rackspace Technology®, marking the beginning of a relationship that evolved from providing basic infrastructure support to enabling comprehensive digital transformation. As the company grew, so did the complexity of its security service requirements, which prompted an increased focus on cost management and scalability.
Comply Exchange sought a strategic technology partner to help optimize infrastructure investments while supporting its plans for growth. For a growing fintech company handling sensitive financial data, choosing the right technology partner was crucial to building market credibility.
"When you're asking major financial institutions to trust a newer provider with their sensitive data, you need a technology partner like Rackspace Technology that has gravitas in the financial world," said Marley.
"Rackspace Technology brings that foundation of knowledge and expertise in delivering an AI product. We struggle to keep up with how fast AI is evolving. That's what we're looking at the Rackspace team to do, because they're looking at different avenues, different ways, different routes across multiple projects."
Solution
Comply Exchange modernized its core infrastructure by transitioning from a single-hypervisor physical environment to Microsoft® Azure®, chosen for its robust security and widespread acceptance in the banking sector. This shift to a cloud platform was essential to support its growing client base.
The company also adopted Microsoft® 365® to enhance team collaboration and productivity. While primarily a tool for internal efficiency, its integration into a broader Microsoft technology ecosystem aligned with industry standards, reinforcing Comply Exchange's operational credibility in the financial sector.
The Rackspace team's deep expertise in Microsoft® Azure® and its financial services credibility proved instrumental in establishing a secure, scalable foundation. This foundation helped build the market confidence that major institutions required to trust Comply Exchange with their sensitive data.
Building on this progress, the company implemented Rackspace Modern Operations, which delivered 24x7x365 monitoring and management while integrating advanced security tools such as vulnerability management and automated patching. These operational enhancements provided the visibility and control required to maintain performance across complex client environments.
Through Rackspace Elastic Engineering, Comply Exchange modernized its development processes by implementing a standardized DevOps framework. This transformation introduced automated testing, streamlined deployment pipelines and consistent release processes, replacing manual package copying and ad-hoc deployments.
Outcome
Comply Exchange has not only modernized its infrastructure but also embraced the adoption of AI through Foundry for AI by Rackspace (FAIR™). The company’s new feature, called Comply Extractor, automates the handling of numerous versions of withholding statements and tax documents using advanced machine learning. The FAIR solution, which extended Rackspace's Multimodal Enterprise Knowledge Advisory (MEKA) framework, merges automated processing with human oversight, helping to achieve precision across varied document types and significantly reducing processing times from weeks to seconds while upholding the high accuracy standards needed for tax compliance. This integration has transformed the company's operational efficiency, allowing for a shift from manual document handling to strategic oversight.
This most recent modernization initiative has refined Comply Exchange's capacity to serve its growing client base. The introduction of a new DevOps framework has significantly accelerated deployment processes, cutting down the time for client environment updates from weeks to hours. Additionally, improved monitoring tools have fortified the company's proactive stance on system health and security.
"Whenever there's a critical milestone or delivery deadline we must hit for a client, the Rackspace team is there to help us deliver what we need," said Marley. "In all the years of our partnership, they've consistently come through at the moments that matter most."
With its modernized infrastructure and growing technology portfolio, Comply Exchange continues developing and deploying new solutions as market demands evolve, including emerging regulatory requirements for cryptocurrency compliance.
This latest integration with FAIR™ showcases how Comply Exchange can optimize operational efficiency and how AI can revolutionize compliance tasks in the financial sector.
About Rackspace Technology
Rackspace Technology is a hybrid, multicloud solutions expert. We combine our expertise with the world’s leading technologies — across AI, applications, data and security — to deliver end-to-end solutions. We have a proven record of advising customers based on their business challenges, designing solutions that scale, building and managing those solutions, and optimizing returns into the future.
As a global hybrid, multicloud technology services pioneer, we deliver innovative capabilities to help customers build new revenue streams, increase efficiency and create incredible experiences. Named a best place to work, year after year according to Fortune, Forbes and Glassdoor, we attract and develop world-class talent to deliver the best expertise to our customers. Everything we do is wrapped in Fanatical Experience® — our obsession with customer success that drives us to help each customer work faster, smarter and stay ahead of what’s next.
About Foundry for AI by Rackspace (FAIR)
FAIR™ is at the forefront of global AI innovation, paving the way for businesses to accelerate the responsible adoption of AI solutions. FAIR aligns with hundreds of AI use cases across a wide range of industries while allowing for customization through the creation of a tailor-made AI strategy that’s applicable to your specific business needs. Capable of deployment on any private, hybrid or hyperscale public cloud platform, FAIR solutions empower businesses worldwide by going beyond digital transformation to unlock creativity, unleash productivity and open the door to new areas of growth for our customers.
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