The results of a recent survey CRIFVision-net carried out of over 550 Irish businesses revealed a significant gap in corporate compliance preparedness, with nearly half of all companies lacking a dedicated compliance role. The findings suggest that businesses are navigating an increasingly complex regulatory landscape with inadequate resources.
Over half of the companies surveyed identified GDPR as the biggest compliance burden for the next 12 months. Other key areas of concern included:
Mounting Pressure from KYC and KYB Obligations
For many Irish businesses, Know Your Customer (KYC) and Know Your Business (KYB) requirements are becoming a growing source of pressure. With 30% of companies citing onboarding obligations as a key compliance burden, the findings suggest that verification processes, essential for fraud prevention and regulatory alignment, are increasingly straining internal resources. As these checks become more rigorous, businesses without specialist compliance support may struggle to keep up.
Additionally, 40% of companies believe they are not receiving sufficient support from regulators or industry groups.
Anticipated Compliance Challenges in 2026
The research also revealed widespread unease about the future. Nearly two-thirds (63%) of companies expect compliance obligations to become more difficult over the next 12 months. Meanwhile, four in ten (40%) feel unsupported by regulators or industry bodies.
Closing the Knowledge Gap
Our Managing Director, Christine Cullen commented:
"This research highlights a worrying gap in compliance preparedness across Irish businesses. The data suggests that for many, compliance is viewed as an additional task rather than a core strategic function - a mindset that may prove costly as regulatory demands continue to intensify".
"Ultimately, navigating these manifold compliance challenges starts with proactive planning, clear resource allocation, ongoing training and upskilling, and regulatory engagement to minimise such risks. Furthermore, there is an opportunity for professional bodies and industry associations to play a more proactive role in supporting their members as they navigate new compliance legislation".
ELLA - The Digital Compliance Assistant
To help companies address these challenges, we have developed Ella, its digital compliance assistant. Cullen notes "Ella simplifies KYC and KYB onboarding, automates verification checks, and provides real-time access to compliance data".
By reducing manual workloads and supporting more accurate decision-making, Ella enables businesses of all sizes to meet regulatory obligations more efficiently, freeing up resources and lowering risk in an increasingly demanding environment.
To learn more about Ella call us on 01 903 2657 or email us at solutions.vision-net@crif.com for more information.
By Business Barometer.
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