Corlytics Completes Acquisition of Clausematch, Expanding Global RegTech Presence
Corlytics, a leading player in the RegTech industry, has successfully finalized its acquisition of Clausematch, marking a significant milestone in their growth trajectory. The merger combines the capabilities of both companies to create an enhanced platform that manages the entire regulatory risk value chain on a global scale. The newly formed Group aims to establish itself as a prominent player in the industry.
Clausematch's expertise in creating, maintaining, and mapping intelligent regulatory documents and policies complements Corlytics' established position in intelligent regulations and regulatory data. The integration of their offerings presents new opportunities for advancements in the RegTech sector.
The Clausematch platform, known for its central role in compliance management, facilitates collaborative creation, management, and review of diverse compliance documents in real time. With a complete audit trail and live insights, it promotes robust governance, mitigates the risk of penalties and reputational damage, and reduces compliance costs by up to 30%.
Corlytics, with its direct connectivity to international regulators, is uniquely positioned to assist clients in meeting and staying ahead of evolving regulatory demands. This strategic acquisition expands Corlytics' range of services to encompass regulatory monitoring, regulatory change management, policy management, and attestation, catering primarily to global Tier 1 organizations.
Evgeny Likhoded, the CEO and founder of Clausematch, expressed enthusiasm for joining forces with Corlytics in a recent blog post. He highlighted the integration of regulatory content into their platform as a highly requested feature from their clients. The combined product portfolio aims to revolutionize compliance operations, enabling seamless assessment, implementation, and communication of regulatory changes, along with providing compliance attestations within a unified platform.
The acquisition brings together the extensive AI and machine learning capabilities developed by both Corlytics and Clausematch through collaborations with global regulators and clients. As part of the acquisition, Evgeny Likhoded assumes the role of President of Corlytics. His focus will be on partnering with major banks, insurers, and payment companies to address their regulatory technology challenges and align Corlytics' portfolio of solutions accordingly.
The acquisition of Clausematch expands Corlytics' client base to include 80 organizations, including 14 of the world's top 50 banks. This growth positions Corlytics as a strategic partner for regulatory monitoring, compliance operations, and regulatory attestation within the governance, risk, and compliance (GRC) and enterprise risk management (ERM) domains.
The move signifies the growing emphasis on digitalized regulations and the increasing need for robust compliance management and proof of adherence. The Corlytics Group is well-positioned to provide solutions that address these regulatory demands and support organizations in their compliance efforts.