Corlytics, a leading regulatory intelligence and policy compliance technology firm, has recently acquired a digital regtech platform from Deloitte UK. This strategic acquisition comes on the heels of Verdane, a specialist growth investor, taking a majority equity stake in Corlytics in April.
Corlytics: Pioneering Intelligent Regulations
Corlytics is at the forefront of developing intelligent regulations and taxonomies in collaboration with regulators such as the FCA. Its unique value proposition lies in its ability to enable customers to stay ahead of regulatory demands.
Corlytics takes great pride in its unique position in the market as the sole provider of a fully integrated end-to-end solution. In short, this comprehensive offering begins with regulatory horizon scanning, a crucial process that allows businesses to stay ahead of regulatory changes.
Following this, Corlytics provides policy management, a key function that ensures businesses are always in compliance with the latest regulations. Finally, the last piece of their offering is attestation, a critical step that verifies and validates the compliance of businesses.
Expansion Through Acquisitions
Kicking off the year in January 2023, Corlytics made a strategic move by acquiring ING SparQ. They aimed this acquisition to enable digitalisation across the regulatory change lifecycle. Not resting on their laurels, Corlytics then proceeded to acquire Clausematch in July 2023, further strengthening their position in the market.
The most recent addition to their portfolio is the Deloitte UK regtech platform. With this in mind, this acquisition is set to add considerable breadth and domain expertise to their capabilities.
With these enhanced capabilities, Corlytics now covers a broad spectrum of functions. Firstly, they are adept at interpreting regulatory change, a critical aspect in the dynamic world of regtech. Secondly, they have the expertise to map policies and controls, a crucial step in ensuring compliance.
Furthermore, Corlytics empowers users with the ability to find, interpret, understand, and accurately implement regulatory change. This is a significant advantage in an industry where regulations are constantly evolving.
All these factors combined provide Corlytics with a comprehensive suite of capabilities. Consequently, this positions them as a formidable leader in the regtech industry. Their commitment to innovation and excellence sets a high standard for others in the field.
Augmenting the Corlytics Platform
The deal will extend Corlytics’ coverage in Europe and the US. Next, it also provides the capability to further augment their platform for global Tier 1 organisations in financial services, and also into sectors such as bigtech and pharma.
John Byrne, CEO of Corlytics, described the acquisition as transformational for clients. He stated, “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.”
Furthermore, Byrne added, “Deloitte UK has been using our intelligent data for five years now. 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.”
Leadership Changes
Kent Mackenzie, Deloitte UK Partner and Head of regtech, will join Corlytics as Chief Operating Officer. He believes that the Corlytics business and the Deloitte UK RegTech platform are highly complementary. He stated, “As a combination, it can offer a truly unique, end-to-end platform in the market. This is a gamechanger for our clients and the industry.”
Regtech Market Growth
To conclude, experts forecast the regtech market to grow at a CAGR of 23.6% until 2032. Nils Vold, partner at Verdane, said, “We backed Corlytics as the regtech category leader just three weeks ago. This acquisition is a fantastic step forward for Corlytics, its people, and its customers.”
*We have included the information on this site in good faith, solely for general informational purposes. We do not intend it to serve as advice that you should rely on. We make no representation, warranty, or guarantee, whether express or implied, regarding its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
