Ireland’s Corlytics snaps up Deloitte UK regtech platform
Irish regulatory intelligence and policy compliance technology firm Corlytics has acquired an undisclosed digital regtech platform from Deloitte UK.
Corlytics snaps up Deloitte UK regtech platform
The purchased Deloitte UK regtech platform operates as a regulatory management solution designed to improve how corporations manage, structure and source compliance and regulatory change.
Corlytics says the platform will add “considerable breadth and domain expertise” to its existing capabilities. From mapping policies to interpreting regulatory changes and now to controls, the new solution will enable users to “find, interpret, understand and accurately implement regulatory change”.
The move comes after it recently received a “significant investment” from Norwegian venture capital firm Verdane through its €1.1 billion Edda III Fund last month.
Additionally, Corlytics foresees that acquiring the Deloitte platform will expand its reach in Europe and the US. It aims to bolster the applicability of its platform not only for global corporations operating in financial services, but also for sectors like Pharma and Big Tech.
Commenting on the deal, Corlytics CEO, John Byrne, explains: “Deloitte UK has been using our intelligent data for five years now”, and he sees this move as the companies taking “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,” adds Byrne.
Corlytics’ latest acquisition contributes to its expanding portfolio of recent purchases across the regtech sector, with notable purchases including UK-based Software-as-a-Service (SaaS) firm Clausematch and the €5 million deal for the regulatory lifecycle platform ING SparQ, finalised last year.
