Corlytics provides relevant insight into the size, scope and root causes of regulatory risk, enabling the three lines of defence to better plan their compliance programs
Corlytics risk weights and reveals the highest priority regulatory themes to enable better regulatory outcomes for regulators and regulated firms.
HOW CORLYTICS WORKS?
Corlytics analyses global regulatory notices. Using our regulatory taxonomy and advanced analytics, we extract relevant intelligence to rate the risk of regulatory concerns.
WHAT CORLYTICS OFFERS?
Corlytics uses risk-based analysis of hot regulatory topics to design audit, risk and compliance programs and investments. Corlytics also gives access to relevant, analysed regulatory notices.
Firms struggle to monitor and analyse regulatory notices from the regulators to which they are exposed. For most firms this is a manual and time consuming process.
Firms struggle to understand what information is actually relevant to their business and which information should go to which internal team.
Firms struggle to extract risk intelligence from relevant notices in a way that quickly and clearly highlights the greatest areas of regulatory risk.
SCALE OF THE CHALLENGES
Estimated number of compliance rule books globally
Average number of regulatory alerts daily issued by over 300 regulators globally. Firms need relevant data
Estimated cost of compliance to the banking industry each year
GLOBAL COST OF ENFORCEMENT SINCE 1ST JANUARY 2018
Single centralised store of regulatory notices from global regulators, collected automatically for analysis
Control-oriented and regulation-centric risk views of regulatory intelligence specific to firms, regulators, jurisdictions and products.
RISK BASED ANALYSIS
Current and future regulatory risk models, enabling firms to plan risk, audit and compliance programs and associated investment allocation
CORLYTICS TAXONOMY MAPPING
Corlytics’ regulatory taxonomy enables categorisation, mapping and routing of regulatory content to a firm’s view of compliance risk, business lines, and controls. This makes sense of regulatory notices for departments, teams and individuals, so that only relevant information is highlighted for action. Our regulatory taxonomy has also been used to create the world’s first intelligent handbook by mapping the FCA’s taxonomy to its regulatory handbook. The handbook is now a searchable database surfacing only relevant regulations for regulated firms.
CORLYTICS REGULATORY MONITORING
Corlytics’ bots scans regulatory websites for all types of regulatory content, including regulator communications (business plans, speeches etc), regulatory developments (consultation papers, draft regulations, etc) and regulatory penalties (enforcements, warning letters etc). Corlytics collates this information to a single cloud-based repository which can be used for analysis and risk weighting. Corlytics RED, enables firms to interact with this content, using it as part of the day to day compliance operations.
RiskFusion® highlights regulatory concerns for risk, audit and compliance teams to assist in the planning and allocation of regulatory compliance investments. Corlytics collects and categorises regulatory data. Relevant data sets are then analysed and summarised by Corlytics’ regulatory and legal analysts. RiskFusion® risk models are applied to the curated data to illustrate the highest risk jurisdictions, regulations, regulatory topics and provisions. Prioritised regulatory action plans are built from these views.
MEET THE CORLYTICS TEAM
Our team is comprised of world class legal and regulatory analysts, data scientists, risk professionals and seasoned technologists. Depending on the engagement type, members of this team provide specialist services to the regulator or regulated firm in question. We offer taxonomy mapping services to regulators for regulatory content and to regulated firms for taxonomy mapping. Regulatory analysts provide specialist services on regulatory review and regulatory change issues. Risk specialists provide core risk models integrated with client data for firm-specific views of risk.