From: RegTech Analyst
Compliance tech company ClauseMatch has launched a new office in New York in response to demand from US companies and international clients operating in the country.
They include Barclays, as well as two of the largest financial organisations in the country: a publicly traded bank based in New York and one of the world’s largest investment firms. After London and Singapore, New York is the third location across the globe where ClauseMatch is represented.
The news comes after ClauseMatch graduated from the Partnership Fund for New York and Accenture’s FinTech Innovation Lab in New York on June 25. ClauseMatch said it has graduated with new expertise to bring to the market alongside its compliance platform.
“Technology that more efficiently facilitates compliance with regulatory requirements was a priority for the financial institutions in our FinTech Innovation Lab, who selected ClauseMatch for the 2020 class,” said Maria Gotsch, president and CEO of the Partnership Fund for New York City. “We’re excited that ClauseMatch is entering the US market by opening an office in New York at a time when new activity and jobs are so important for our local economy.” the latest policy in one central place from desktop, tablet, and mobile.
Evgeny Likhoded, CEO and founder of ClauseMatch, added “Our technology has found a warm welcome in the US, especially in the current climate where the entire workforce is now working from home, and organisations have to find new tools to adapt. With daily changes happening in the global arena, it is imperative to be able to adapt quickly and communicate better with employees. Through our platform, business continuity plans and disaster recovery policies could be updated and communicated to everyone in real-time, so people in compliance can work smarter and concentrate on higher-value tasks.”
The opening of the new office comes at a particularly exciting time for RegTech companies in the US. The Covid-19 crisis has created a smattering of challenges for compliance teams working remotely and supervising a remote workforce on top of dealing with changing regulations.
Rich Heller, head of the US ClausMatch branch, commented, “With fast-changing regulations, especially in the current crisis, risk and compliance continue to be the biggest concern for financial institutions. We see an increasing demand and appetite for the kind of technology we offer from banks of all sizes and insurance companies. It is definitely the right moment to enter and serve the North American market now.”
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