Regulatory intelligence and policy compliance technology outfit, Corlytics, has acquired a digital regtech platform from Deloitte UK. The acquisition follows the announcement in April of specialist growth investor Verdane taking a majority equity stake in Corlytics.

Corlytics develops intelligent regulations and taxonomies with regulators such as the FCA. Specifically, it enables customers to stay ahead of regulatory demands. It describes itself as the only solution with a fully integrated end-to-end offering, from regulatory horizon scanning to policy management and through to attestation.

Acquisition builds on 2023 deals to snap up SparQ and Clausematch

Last January, it acquired ING SparQ to enable digitalisation across the regulatory change lifecycle. And then in July 2023, Corlytics acquired Clausematch.

Corlytics says that the Deloitte UK regtech platform add considerable breadth and domain expertise to further Corlytics’ capabilities. These incorporate interpreting regulatory change, to mapping policies and controls, empowering users to find, interpret, understand and accurately implement regulatory change.

Deal augments Corlytics platform for Tier 1 organisations

It will extend Corlytics’ coverage in Europe and the US. In addition, it provides the capability to further augment the Corlytics platform for global Tier 1 organisations in financial services, but also into sectors such as big tech and pharma.

Corlytics CEO John Byrne said: “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.

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“Deloitte UK has been using our intelligent data for five years now. I’m thrilled to take 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.”

Deloitte UK Partner and Head of regtech Kent Mackenzie will join Corlytics as Chief Operating Officer.

He added: “The Corlytics business and this Deloitte UK RegTech platform are hugely complimentary. As a combination, it can offer a truly unique, end-to-end platform in the market. This is a gamechanger for our clients and the industry. 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.”

Regtech market forecast to grow at a CAGR of 23.6% to 2032

Nils Vold, partner at Verdane, said: “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. This acquisition is a fantastic step forward for Corlytics, its people and its customers.”