Corlytics, a regulatory intelligence and policy compliance tech provider, has acquired a digital Regtech platform from Deloitte UK.
The marriage of the two platforms is described as transformational, “completing the cycle of regulatory assessment and implementation.”
The announcement closely “follows Verdane’s majority stake investment last month to cement Corlytics’ global category leadership.”
Plugged directly into international regulators, Corlytics is said to be “the only solution that enables clients to align with, and stay ahead of, regulatory demands, which increasingly require growing levels of proof of compliance.”
Syncing up regulatory monitoring and policy management with controls, the addition of this Deloitte UK RegTech platform “supports accurate implementation of regulatory change across the lifecycle.”
This platform and its unique capabilities “add considerable breadth and domain expertise to further Corlytics’ capabilities from interpreting regulatory change, to mapping policies and now to controls – empowering users to find, interpret, understand and accurately implement regulatory change.”
Corlytics CEO John Byrne said:
“This is a transformational acquisition for clients. The RegTech market is growing and evolving fast, and Corlytics is positioned at the forefront. We continue to seek opportunities for sustainable expansion and consolidation, and are thrilled to incorporate this Deloitte UK platform and associated team. Deloitte UK has been using our intelligent data for five years now, and I’m thrilled to take this relationship to the next level. Our ambition goes beyond intelligent data solutioning – we aim to establish a new horizon and set a new standard for how compliance is managed.”
Deloitte UK Partner and Head of RegTech Kent Mackenzie will join Corlytics as Chief Operating Officer.
He added:
“The Corlytics business and this Deloitte UK RegTech platform are hugely complimentary, and as a combination can offer a truly unique, end-to-end platform in the market. This is a gamechanger for our clients and the industry. Together, we can completely address the critical challenges clients are desperate to solve, and elevate the value and intelligence placed on regulatory content and management.”
2023 saw Corlytics make two “significant acquisitions – ING SparQ and Clausematch – creating an unparalleled platform that manages the entire regulatory risk value chain on a global scale, elevating its extensive offer for Tier 1 organizations including ING, BNY Mellon, ScotiaBank and SwissRe.”
Corlytics continues to “invest heavily in innovation, with investments in R&D to date exceeding €65 million. “
