Corlytics acquires Clausematch to enhance its regtech offering
05 July 2023 UK
Image: Gajus/stock.adobe.com
Regulatory technology firm Corlytics has acquired Clausematch to aid the advancement of its regulatory offering.
Through the acquisition, the company aims to establish a platform that manages the entire regulatory risk value chain on a global scale, as well as enhancing Corlytics鈥� offering for Tier 1 organisations including global banks, insurers and regulators.
This will add Clausematch鈥檚 expertise in creating, maintaining and mapping intelligent regulatory documents and policies, delivering an expanded Corlytics Group offering that manages the entire regulatory management value chain from regulatory monitoring, regulatory change management, policy management to attestation, the firm says.
Following the acquisition, Clausematch founder and CEO Evgeny Likhoded will become president of Corlytics.
In this role, Likhoded will be responsible for ensuring that the firm acts as a strategic partner in solving clients鈥� regulatory technology challenges and managing the scope of Corlytics鈥� portfolio of solutions.
Alongside this, John Byrne will drive the vision, growth strategy and profitability as CEO of the Corlytics Group.
Commenting on the announcement, Byrne says: 鈥淭his deal marks a new milestone in the growth journey of our platform. We are thrilled to incorporate Clausematch into the next level of growth and welcome Evgeny Likhoded as our new president.鈥�
Likhoded adds: 鈥淐lausematch was built out of frustration at the inadequacy of existing legacy and incumbent solutions on offer for compliance and legal departments.
鈥淏y combining and accelerating our products and client relationships [with Corlytics], we will drive a revised compliance operating model and unlock new value for our esteemed clients.鈥�
He continues: 鈥淭hrough 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.鈥�
Through the acquisition, the company aims to establish a platform that manages the entire regulatory risk value chain on a global scale, as well as enhancing Corlytics鈥� offering for Tier 1 organisations including global banks, insurers and regulators.
This will add Clausematch鈥檚 expertise in creating, maintaining and mapping intelligent regulatory documents and policies, delivering an expanded Corlytics Group offering that manages the entire regulatory management value chain from regulatory monitoring, regulatory change management, policy management to attestation, the firm says.
Following the acquisition, Clausematch founder and CEO Evgeny Likhoded will become president of Corlytics.
In this role, Likhoded will be responsible for ensuring that the firm acts as a strategic partner in solving clients鈥� regulatory technology challenges and managing the scope of Corlytics鈥� portfolio of solutions.
Alongside this, John Byrne will drive the vision, growth strategy and profitability as CEO of the Corlytics Group.
Commenting on the announcement, Byrne says: 鈥淭his deal marks a new milestone in the growth journey of our platform. We are thrilled to incorporate Clausematch into the next level of growth and welcome Evgeny Likhoded as our new president.鈥�
Likhoded adds: 鈥淐lausematch was built out of frustration at the inadequacy of existing legacy and incumbent solutions on offer for compliance and legal departments.
鈥淏y combining and accelerating our products and client relationships [with Corlytics], we will drive a revised compliance operating model and unlock new value for our esteemed clients.鈥�
He continues: 鈥淭hrough 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.鈥�
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