Corlytics, a global firm providing regulatory intelligence and policy compliance technology, has acquired a digital regtech platform from Deloitte UK.
With the acquisition, Corlytics aims to further its own capabilities and add “considerable breadth and domain expertise” from interpreting regulatory change, to mapping policies and now to controls – empowering users to find, interpret, understand and accurately implement regulatory change.
It will extend Corlytics’ coverage in Europe and the US, and provide the capability to further augment the Corlytics platform for global Tier 1 organisations in financial services, but also into sectors such as big tech and pharma.
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.”
As part of the deal, Deloitte UK partner and Head of regtech, Kent Mackenzie, will join Corlytics as chief operating officer (COO), along with 17 other people that work within the Deloitte UK regtech platform.
“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,” he added. “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.”
On an acquisition spree
In 2023, Corlytics made two significant acquisitions – ING SparQ and Clausematch – creating a platform that manages the entire regulatory risk value chain on a global scale, elevating its extensive offer for Tier 1 organisations including ING, BNY Mellon, ScotiaBank and SwissRe.
The company also received a majority stake investment from European specialist growth investment firm Verdane in April.
