Corlytics wins Deloitte Regtech Challenge

Corlytics wins Deloitte Regtech Challenge
29.01.2019 08:13 am

Corlytics wins Deloitte Regtech Challenge

Security , Regulatory Standards

Corlytics, the innovative regulatory risk intelligence and analytics company, has won first place in the Deloitte Regtech Challenge. As part of the prize, the company will now be collaborating in client engagements with some of Deloitte’s EMEA Risk Advisory firms.

The aim of the competition was to find the most innovative start-ups using Artificial Intelligence (AI) to solve regulatory problems, particularly in relation to Conduct Risk. Corlytics competed against 40 other businesses at the RegTech Challenge Pitch & Award Day, which took place at Deloitte Greenhouse in Milan earlier this month. The business was awarded with the accolade after showcasing how it is incorporating advanced AI modelling to provide regulatory risk ratings for financial institutions.

The competition success follows a number of major milestones for the business, including:  

  •       The announcement in November 2018 that Corlyticsis set to close a new €10m funding round
  •       Success in Allen & Overy's Fuseprogramme, a tech innovation space to explore, develop and test legal, regulatory and deal-related solutions
  •       Cutting-edge innovative work with two new banking clients, introduced to the business by A&O
  •       Six successful global deals across 2018, with more new wins than competing emerging regtech companies 

Kevin O’Leary, VP product management at Corlytics, comments, “The practical nature of Deloitte’s prize – which includes the opportunity to solve real business problems for their clients – makes this a brilliant win for the team. We were thrilled to compete against those doing some great work in the regulatory landscape.

He continues, “The accolade comes at a time when we are seeing real momentum in the regtech market. We’re now looking forward to delivering pilots and proof of concepts to help Deloitte’s partners understand the size, scope and root causes of regulatory risk.”

The Deloitte RegTech Challenge team declared: "We had the privilege to get in touch with some highly impressive start-ups throughout our RegTech Challenge and we want to congratulate Corlytics for the excellent result achieved. As Deloitte we are proud to create for Corlytics the opportunity to be a part of our innovation ecosystem that aims to solve real business problems and meet our clients’ needs.”

Related News

Worldpay from FIS Helps Crypto Brokers and Exchanges with New Chargeback Indemnification Service from Forter

FIS™ (NYSE: FIS), a global leader in financial services technology... Read more »

New data reveals bad habits leave Brits open to hacking online, despite feeling more vulnerable during the pandemic

New data from biometric authentication provider, iProov, reveals that despite 26% of Brits... Read more »

D-ID Secures Over $13.5 Million to Protect Against Mass Surveillance

The software platform that removes key biometric data from photos and videos continues to protect industries and individuals

Read more »

LzLabs and T-Systems Team Up to Drive Mainframe Transformation

LzLabs today announced an Agreement with T-Systems, one of the world-leading cross-manufacturer digital service providers,... Read more »

SunTec Group collaborates with AWS to offer cloud-native applications that help clients improve customer experience and drive revenue growth

SunTec, a leading provider of revenue and billing management solutions,... Read more »

DenizBank Uses OneSpan’s Mobile App Security Solution to Handle Doubling of Demand from COVID-19

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that leading Turkish... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel