Azimuth GRC Celebrates Five Years in Business as Demand for Automated Compliance Management Increases
NASHVILLE–(BUSINESS WIRE)–#Azimuth—Azimuth GRC, a compliance automation pioneer, today announced from the MBA Annual Convention and Expo 2022 that it is celebrating its fifth year in business, seeing tremendous growth as the demand for automated compliance management increases amid rising regulatory scrutiny.
Azimuth GRC provides institutions with an innovative automated approach to sustainable compliance management. The company is reducing the cost of maintaining regulatory compliance while also expanding coverage, ensuring institutions are protected without adding exorbitant costs. The first and only company to replace sample-based manual testing with full-population automated compliance testing, financial institution clients are testing entire portfolios in minutes to determine if it is compliant with all laws and regulations, ensuring a fair and equitable experience for all customers.
Since its founding, Azimuth GRC has experienced strong growth. Initially supporting the mortgage industry, the company has expanded to support additional consumer lending products including personal lending, auto loans, and student loans. With nine new lines launching in 2022, Azimuth has increased its employee base by 600% to support demand and recently opened a new office in India. Additionally, Azimuth GRC has expanded testing for its revolutionary solution, Validator.
Fueling the company’s growth, Azimuth GRC is backed by Truist Ventures, the corporate venture capital division of Truist Financial Corporation, Detroit Venture Partners, founded by Dan Gilbert, Rocket Mortgage Founder and Chairman, Mosaik Partners, a Silicon Valley-based investor of B2B fintech companies, and Andromeda Systems Incorporated (ASI), a provider of expertise and capabilities in the reliability, maintenance, supportability, engineering and logistics disciplines. Together, these investors are helping Azimuth GRC transform compliance management.
To support increased demand, Azimuth GRC continues to expand its leadership team. Over the last eighteen months, the company welcomed several key executives, including Kimberly Redd as Vice President of Product Management, Mike Redmon as Director of Financial Planning and Analysis and Ned Carroll as Chief Customer Officer. These executives bring decades of regulatory compliance, including the largest U.S. banks like Bank of America and mortgage technology companies like Black Knight, Inc.
At the end of last year, Azimuth GRC appointed former JPMorgan Chase veteran Shannon Warren to its Advisory Board. From 2012 to 2016, Warren was the Chief Control Officer of JPMorgan Chase & Co., where she established the Oversight and Control function and designed the framework for the identification and management of operational risk for all products and services. Azimuth GRC is also a Nacha preferred partner, as well as a Microsoft Gold Partner.
“As the cost to maintain compliance rises, coupled with increased scrutiny from regulators, financial institutions are under significant pressure to efficiently and accurately manage compliance efforts,” said the company’s founder and CEO, Rohin Tagra. “At Azimuth GRC, we have solved for this by developing a best-in-market agile regulatory compliance solution that drives compliance with all federal and state laws and provides full-population compliance testing of the entire loan portfolio. Financial institutions have greater confidence in their efforts by expanding coverage while also lowering compliance costs. As a result, we continue to experience strong growth with commitment from the industry’s top executives and firms.”
Tagra added, “As we reflect on our accomplishments over the past five years, we stand ready to support financial institutions and their customers and remain true to our mission – to create a fair and equitable experience for all consumers.”
About Azimuth GRC
Azimuth GRC revolutionizes the world of regulatory compliance by being the first and only company to codify every state and federal law on one platform, changing the culture of compliance by taking manual compliance work done on paper spreadsheets and automating it. Led by founder and CEO Rohin Tagra, Azimuth GRC is the only company bold enough to offer VALIDATOR, a software that provides daily automated tests of an entire portfolio to determine compliance with all applicable laws and regulations.