• Dean Francis, VP and Sector Lead, Fintech, Payments & Insurance at Corlytics


• 28.05.2025 11:11 am

An Interview with Dean Francis, VP and Sector Lead, Fintech, Payments & Insurance, Corlytics

Financial IT: What kind of regulatory changes are we seeing in the payments space right now? How are recent regulatory shifts affecting the sector, and what trends are you keeping an eye on?

Dean Francis: We’re seeing three key areas dominating the regulatory landscape in payments right now: data privacy, anti-money laundering (AML), and the Payment Services Directive (PSD). All of these are designed to enhance consumer protection and security in an increasingly digital world.

In terms of trends, two areas stand out. First, the rise of digital wallets and digital payments - these are gaining massive traction globally. To put it in perspective, in 2014, digital payments accounted for just 3% of total payment volume. By 2030, that figure is expected to soar to 70%. That’s a monumental shift. Second, we’re seeing regulatory developments around “Buy Now, Pay Later” (BNPL) offerings. These products are popular, but they come with risks that regulators are increasingly trying to manage through tighter frameworks.

Financial IT: What are the biggest challenges financial firms face in staying compliant, especially as regulations continue to evolve?

DF: The sheer volume of regulatory content being released globally is overwhelming. For compliance, risk, and legal teams, staying on top of these updates is a real challenge. At Corlytics, we help organizations manage this complexity by delivering accurate, relevant data tailored to their areas of interest. From there, we enable them to trace the impact of regulations throughout the organization from extracting obligations, mapping them against controls and procedures, through to updating internal policies and ensuring staff are aware of changes through attestations. It’s about transforming noise into actionable intelligence.

Financial IT: How is Corlytics helping companies tackle this regulatory complexity, particularly in fast-moving sectors like payments?

DF: We provide a comprehensive platform with multiple modules designed for the full spectrum of financial services including banks, insurers, asset managers, and of course, payments companies. Our technology scans the global regulatory landscape, classifies and interprets changes, and then maps those updates directly to business functions, policies, and controls. We also use AI to streamline this process, but we do so with a strong emphasis on accuracy and ethical application. This ensures firms can manage compliance proactively and with confidence.

Financial IT: With compliance processes often fragmented, how does Corlytics help unify obligations, controls, and policies into a cohesive framework?

DF: Many organizations are still relying on spreadsheets or disconnected systems to manage compliance, often with little collaboration between teams or jurisdictions. Corlytics provides a centralized, multilingual platform that enables cross-border teams to manage compliance more efficiently. Our workflow tools bring traceability and auditability to every step from receiving a regulatory update, to implementing a policy change all within a single, cohesive framework. This unification is critical to creating a proactive compliance culture.

Financial IT: AI is becoming increasingly integrated into compliance workflows. How is Corlytics using AI responsibly, and what steps are you taking to ensure ethical application?

DF: We recently became the first company in the regulatory technology space to achieve ISO 42001 certification for AI governance. This underscores our commitment to ethical, responsible AI use. While AI is transforming the way we work, we don’t believe in replacing human expertise; rather, we aim to enhance it. Our approach is to automate up to the point of insight, where a knowledgeable expert can step in, interpret the data, and make informed decisions. It’s about striking the right balance between efficiency and human judgment.

And as the pace of innovation accelerates, firms that embed compliance into their operations will be best positioned to navigate what’s next.

Corlytics simplifies compliance in payments and beyond. Book a demo and explore our solutions.