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Corlytics Targets Regulatory Risk Value Chain with Clausematch Acquisition

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Last week’s acquisition of Clausematch by Corlytics aims to create a comprehensive offering that manages the entire regulatory management value chain. The combination of Corlytics’ intelligent regulatory content with Clausematch’s expertise in smart contracts will allow the new entity to help clients throughout the regulatory risk value chain, from regulatory monitoring and regulatory change management, through to policy management.

The combination of the two firms is intended to elevate Corlytics’ existing offer for Tier 1 organisations, including global banks such as ING, insurers such as SCOR and regulators such as FINRA. The acquisition, which follows Corlytics’ acquisition of ING SparQ in January,  brings the combined number of clients to 80, including 14 of the world’s top 50 banks.

For these and other major institutions, the combined offering is expected to help deep their ability to manage policies and complete attestation, through the combination of Corlytics’ intelligent regulations and regulatory data, and Clausematch’s  ability to create, maintain and map intelligent regulatory documents and policies.

Corlytics CEO John Byrne will continue as CEO of the enlarged group. Clausematch founder and CEO Evgeny Likhoded will assume the newly created position of president of Corlytics, and will be responsible for Corlytics’ strategic client relationships.

According to Likhoded, “By combining and accelerating our products and client relationships, we will drive a revised compliance operating model and unlock new value for our esteemed clients, redefining the RegTech landscape. Through the combined products, our clients will be able to show to the regulator how a regulatory change is assessed, implemented and communicated internally and be able to provide compliance attestations in a single platform.”

Both companies have made significant investments into AI and Machine Learning through the work they’ve done directly with global regulators and their clients. The acquisition will bring both teams’ years of development and proprietary AI models enabling classifying, tagging and mapping regulatory content to help with making sense of the regulatory and compliance content.

The acquisition positions Corlytics as a partner not only for regulatory monitoring and compliance operations, but also in supporting regulatory attestation within the entire governance, risk and compliance (GRC) and enterprise risk management (ERM) universe. Corlytics augments firms’ existing investments in GRC and ERM, using intelligent data to make regulatory compliance management more effective and efficient.

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