Corlytics buys Deloitte UK regtech platform

Dublin-based financial services software company Corlytics has acquired a digital RegTech platform from Deloitte UK.

The deal, which comes on the heels of Verdane’s majority stake investment in Corlytics, is poised to transform the way compliance is managed across industries.

Corlytics’ Transformative Acquisition

Corlytics, a leader in regulatory risk intelligence and policy compliance technology, has described the acquisition as “transformational” for its clients.

The addition of Deloitte UK’s RegTech platform will significantly enhance Corlytics’ capabilities, extending its reach and domain expertise across Europe and the United States.

The acquisition will help Corlytics further develop its regulatory monitoring and implementation expertise, a critical aspect of its comprehensive RegTech solution.

By integrating Deloitte UK’s platform, Corlytics will be able to offer its clients an even more robust and seamless end-to-end service, from interpreting regulatory changes to mapping policies and controls.

The deal will also strengthen Corlytics’ global footprint, enabling the company to better serve its growing client base, which includes 14 of the top 50 global banks, as well as insurers, re-insurers, payment providers, and investment managers.

Aligning with the Evolving RegTech Landscape

The acquisition comes at a time when the RegTech market is experiencing rapid growth and evolution.

According to industry projections, the global RegTech market is expected to grow at a compound annual growth rate of 23.6% between now and 2032, underscoring the increasing demand for innovative regulatory compliance solutions.

Corlytics has demonstrated its commitment to innovation, investing more than €65 million in research and development to date.

The integration of Deloitte UK’s RegTech platform and team will further bolster Corlytics’ innovative capabilities. Deloitte UK has been a long-standing partner, utilizing Corlytics’ intelligent data for the past five years.

The acquisition will allow Corlytics to deepen this relationship and leverage Deloitte UK’s extensive domain expertise in the RegTech space.

Strengthening the Corlytics-Deloitte UK Partnership

The acquisition will see Deloitte UK Partner and Head of RegTech, Kent Mackenzie, join Corlytics as Chief Operating Officer.

This strategic move underscores the complementary nature of the two organizations and their shared vision for the future of compliance management.

Cindy Chan, Managing Partner for Risk Advisory at Deloitte UK, expressed her confidence in the acquisition.

“Following the approach from Corlytics to buy the platform, we feel that this sale offers the best opportunity for the team to continue to grow the business and develop their careers,” she said.

The 17 Deloitte UK employees associated with the platform will also join the Corlytics team, ensuring a seamless integration and continued growth.

Verdane’s Backing Fuels Corlytics’ Expansion

The Deloitte UK acquisition closely follows Verdane’s majority stake investment in Corlytics, which was announced in April 2024.

As specialist technology growth investors, Verdane’s backing has provided Corlytics with the resources and strategic guidance to pursue sustainable expansion and consolidation opportunities.

“We backed Corlytics as the RegTech category leader just three weeks ago. As specialist technology growth investors, we partner with leading entrepreneurs to support them on both their organic and acquisitive growth journeys,” said Nils Vold, a partner at Verdane,

The Verdane investment, coupled with the Deloitte UK acquisition, positions Corlytics for accelerated growth and expansion, as the company continues to solidify its position as a global RegTech powerhouse.

The combined resources and expertise will enable Corlytics to further enhance its offerings and better serve its growing client base across diverse industries.

Corlytics’ CEO, John Byrne, summed up the significance of the acquisition, stating, “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.”

Elevating the Value of Regulatory Content and Management

Byrne’s vision extends beyond intelligent data solutioning, as he aims to “establish a new horizon and set a new standard for how compliance is managed.”

By integrating Deloitte UK’s RegTech platform, Corlytics will be able to empower its clients to find, interpret, understand, and accurately implement regulatory changes, ultimately elevating the value and intelligence placed on regulatory content and management.

“The Corlytics business and this Deloitte UK RegTech platform are hugely complementary. As a combination, it can offer a truly unique, end-to-end platform in the market. This is a game-changer for our clients and the industry,” said Kent Mackenzie, the incoming Corlytics COO.

“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.”

 

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