• 01.08.2022 -- 06:49 pm

Thanks again for joining us today. Could you please introduce and your role in the company?

Hi, it's great to be here. I'm the founder and CEO of Clausematch and at Clausematch we help regulated companies and regulated industries to comply with regulations and manage compliance content in a modern, compliant and real-time way.

Thank you very much. So what are the problems that Clausematch solves for the customers? And if you could please share the latest use cases and how your solutions evolved during the time.

Yes, absolutely. At Clausematch, we help our customers to manage compliance content like policies, procedures, regulatory obligations in one single place, and then to distribute that compliance content to employees in a compliant way and track engagement with these documents. Clausematch solving a problem that I have seen personally in the financial services industry and before that, working in oil and gas. And that is the fact that we're still managing compliance documents in the same way as 20 years ago. With Clausematch, rather than, for example, sending a policy document when it's being updated by email as a Word document and trying to get comments, changes, approval, suggestions on this document via email, all of that is centralized. And once that document is approved by the relevant people, by the committees and checked for compliance with the related regulatory obligation, it's then distributed to employees via what we call an employee portal, where employees can engage with this content, ask questions,provide data stations and we can check if certain employee has read the document.

Thank you very much. It’s brilliant. So you touched on the solutions that you provide to the customers. So what is the USP of Clausematch then?

So our unique part of Clausematch is what we call a document editor. A long time ago when this technology wasn’t really available to the market, we decided to build a real-time content and document collaboration as a core of the platform, and even today in the market we don’t see many companies developing that type of technology because it’s quite challenging. And at the same time because we control and help our customers to control daily the content creation process that means that we are storing that content as structured data and that also means that we can apply machine learning and natural language processing to this content and then help our customers and our users to highlight regulated content within the platform. As example, a practical example would be mapping and identifying relevant and related regulatory obligations, mapping them to policies, and then, in turn, mapping them to procedures. So when, for example, you're changing a policy document or a specific paragraph in a policy document, you know exactly where the impact is across the organization on other related documents.

Thank you very much. So you touched on the compliance and regulations and policies. So what are the trends in the compliance space that you observe nowadays?

So we're seeing a big change in companies looking at new regulations. For example, ESG standards and ESG regulations across the world are affecting how companies are, for example, evaluating their vendors, and how companies are evaluated by their investors. And that means that a much wider audience of companies is required to comply with ESG standards and regulations. And there is a big interest in a big change in companies adopting new policies, new procedures, and actually following the ESG standards, which are being pushed out by organizations or countries or governments. I guess in another kind of financial services sphere, we're seeing crypto regulations being talked about quite a lot. And actually, we're working with a number of crypto companies that are following the trend of potential new crypto regulations, and they are managing compliance documents in a very similar way. Obviously, they're part of antimony laundering regulations and they need to comply with them. But there are new regulations that are being drafted now. So that is another emerging field and regulation.

Thank you very much. That's brilliant. So you touched on the features that you have developed and serving your customers, as well as the goals so Clausematch, its 10th anniversary this year. What are the milestones that company has achieved during the journey, and what are your further growth strategies?

Yeah, absolutely. So I guess a few milestones. Our first client was Barclays after we participated in the Barclays accelerator, which was run by Techstars. Accelerator for companies. And that has been a great partnership. We've been working with Barclays now for over six years, and they have proven to be an amazing client for us. So that was the first milestone, which then enabled us to create a case study with Barclays and then show to other banks how compliance could be done in a better modern way. The next milestone was really when we raised a large round of funding in 2018, which was led by Index Ventures and Talis Capital. Both are well known venture capital funds. And that enabled us to really expand our team and build out the products that we had. For example, we came out with a new employee portal module, exceptions management Module, compliance assessment module, and this really helped us to extend our product offerings. And then 2020 was a big year for us when a big milestone was getting four North American clients and expanding to North America based on the demand that we're getting from the US. And Canadian markets. So this was a huge milestone because we know it's very difficult to expand to the US Market, and typically it takes a lot of time and resources to expand there. But on the back of signing great Tier One financial institutions in North America, we managed to expand and we're growing. That our team there. Otherwise, yes, the last two years has been great as well in working with other adjacent industries. So we've signed a number of clients in asset management and insurance. So that really added more verticals to where our software has been used.

Thank you. And lastly, what is the latest news about Clausematch?

So, the latest news. We raised another round of funding last year, which is enabling us to continue growing, to continue really streamlining our go-to-market strategy in Europe and US, which are currently quarter markets for us. An interesting fact that Sony Innovation Fund, which is part of Sony Corporation, also invested in this round. And for them this was a strategic investment because large companies are realizing that regulation is not going away and regulation is just becoming more complex and applicable to wider types of companies by way of data privacy regulations. For example, antimatter laundering. Know your customer. It doesn't just apply to financial services, but actually every industry is now becoming heavily regulated.

That's brilliant news, congratulations on that and thank you very much for your time.

Again, thank you very much and thank you for having me.