This merger looks set to redefine RegTech globally, building on Corlytics’ robust offerings for top-tier organisations such as ING, Scor, and regulatory bodies like FINRA.
The goal of the partnership is to deepen customers’ capabilities in managing policies and attestation, effectively redefining standards in the RegTech market. It represents a significant breakthrough, years in the making, as the best-in-class technologies and intellectual properties of both companies merge, notably following Corlytics’ acquisition of ING SparQ in January 2023.
Corlytics uses its advanced algorithms to provide intelligent regulations and regulatory data. Its platform monitors regulatory changes, manages policies, and aids attestation. Clausematch, on the other hand, has a proven capability in creating, maintaining, and mapping intelligent regulatory documents and policies. This collaboration positions Corlytics to not only monitor and handle compliance operations but also support regulatory attestation within governance, risk and compliance (GRC), and enterprise risk management (ERM) spheres.
The merger, which combines Corlytics’ regulatory data expertise with Clausematch’s prowess in managing regulatory documents, is poised to become a point of acceleration in the RegTech industry. The combined group is set to manage the entire regulatory management value chain, from monitoring to attestation, catering to global tier-1 organisations such as ING, Barclays, and SwissRe.
Corlytics CEO John Byrne, who will be driving the vision, growth strategy, and profitability of the enlarged group, expressed his excitement over the merger. He shared his eagerness to incorporate Clausematch and welcome its CEO, Evgeny Likhoded, as the new President of Corlytics. Evgeny Likhoded reciprocated this enthusiasm, expressing how proud Clausematch is to join forces with Corlytics. He said this acquisition will “change how financial services firms manage compliance.”
Lastly, this partnership reinforces Corlytics’ position as a firm capable of providing intelligent data to make regulatory compliance management more effective and efficient. With both companies having made significant investments in AI and Machine Learning, the merger enables further development and use of proprietary AI models, which will help make sense of regulatory and compliance content.
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