The requirements of regulators constantly evolve and increase, it is one of the biggest challenges in the financial services industry, creating new demands of compliance functions, which are rapidly increasing and so are the risks associated with failing to meet these demands.

Due to the extent of compliance demands and challenges, organizations of a small to medium size nature, can see compliance functions as a major operational costs. The increasing number and complexity of regulations, put constant pressure from shareholders to reduce operating costs. An alternative strategies could be the outsourcing of the compliance functions or at least some of them.