UK-based firm Corlytics has announced an acquisition of regtech company Clausematch to create a platform that manages the entire regulatory risk value chain on a global scale. This addition to Corlytics seeks to better its extensive offer for Tier 1 organisations including global banks like ING, insurers such as SCOR, and regulators such as FINRA and follows the company’s acquisition of ING SparQ in January 2023.

What is more, the acquisition brings the combined number of clients to 80.  Per the press release, ambitious growth is planned over the following two years, as the regtech market is estimated to increase at a CAGR of 53% worldwide. Corlytics – Clausematch collaboration details The announcement details that Corlytics’ intelligent regulations and regulatory data are now combined with Clausematch’s capability to create, maintain, and map intelligent regulatory documents and policies. This marks an acceleration point following years of learning and development, and Corlytics helped enable it by bringing together its suite of technologies and IP.

The extended Corlytics Group offering helps manage the complete regulatory management value chain, ranging from regulatory monitoring, regulatory change management, and policy management to attestation. Being directly connected to international regulators, Corlytics assists clients with being in alignment with and staying ahead of regulatory demands that currently include increased levels of proof of compliance. When commenting on this, Corlytics’ CEO, John Byrne advised that the company’s second acquisition in 2023 marks an additional milestone in the growth journey of its platform.

As Clausematch has a proven track record within the regtech industry, the spokesperson believes the companies’ synergies to be showcased predominantly amongst their joint customer base, and Clausematch is set to continue its work with existing clients while helping expand Corlytics’ reach. The companies are looking to further the regtech industry by providing a one-stop-shop regtech solution that meets and goes past evolving regulatory requirements. Adding on the announcement, Clausematch’s founder and CEO Evgeny Likhoded advised that the company’s clients have been requesting for regulatory content to be integrated into its platform.

The spokesperson believes that by combining and expediting the companies’ products and client relationships, they will be enabled to drive a revised compliance operating model and unlock new value for clients. Through the combined products, clients will be able to showcase to regulators how a regulatory change is assessed, implemented, and communicated internally and to provide compliance attestations in a single platform. The press release further highlights that following direct collaborations with global regulators and their clients, both companies have invested in AI and machine learning.

The acquisition is set to combine both companies’ years of development and proprietary AI models, enabling the classifying, tagging, and mapping of regulatory content to assist with understanding the regulatory and compliance content. As regulators are increasingly digitising regulations and have a requirement for a higher standard of management and attestation of compliance, firms are facing difficulties in meeting such demands. The acquisition places Corlytics as a partner for all regulatory monitoring and compliance operations, but also for supporting attestation within the governance, risk, and compliance (GRC) and enterprise risk management (ERM) space.

The company helps augments companies’ existing investments in GRC and ERM leveraging intelligent data to simplify regulatory compliance management and make it more efficient. .