Case Study 4: How can embedding regtech in the banking licensing process and beyond shape a transformative journey?

Published on 7th June 2024

OUR CLIENT: Private Bank
Arbuthnot Latham, a London- based private and merchant bank, had been experiencing significant growth in their business. Recognising the need for improved operational efficiency their operational risk team decided it was time to simplify and automate their policy management and distribution processes, to inform and engage the bank’s growing workforce, and mitigate the risks of non- compliance in their growth trajectory.

Amidst growing regulatory challenges in the financial services sector, ensuring staff awareness of obligations and an ability to evidence compliance had become crucial for success. As our client expanded, manual processes and generic tools proved insufficient prompting the search for a comprehensive solution to serve as a unified source for their policies.

They wanted a solution that could:

  • Centralise all group-level policies
  • Reduce versioning control challenges
  • Simplify their policy framework by linking policies to the relevant categories, taxonomies and hierarchies
  • Provide advanced search capabilities
  • Template group policies to ensure ongoing standardisation of approvals managed by admins
  • Offer Single Sign On (SSO) for quick and easy user access
  • Present attestation workflows to measure staff adherence.

As one of the world’s largest payment services providers, our client was determined to remain ahead of the curve when it

came to digital innovation. It decided that it needed to invest in technology to support its business strategy, to capitalise on the growth of alternative payment methods, PSD2 and Open Banking.

Looking for a solution that overcame their manual processing issues they looked at Corlytics and were impressed by the
drill down functionality available. For instance with Corlytics Regulatory Monitoring, they could quickly drill down by specifics such as jurisdiction or regulator and focus on the priorities coming out of any particular area.

This type of functionality is a key part of the Corlytics regulatory monitoring solution, providing enriched regulatory data, including horizon scanning, allowing filtering and slicing/dicing of data so that the user can work with any dataset that is pertinent to the task in hand.

The solution deployed was Corlytics Clausematch for policy management

Find out more about Corlytics Solutions

Identify and track emerging regulatory risks with horizon scanning

Simplify regulation and obligation management

Determine your exposure to regulatory risk

Fully-digital, streamlined policy and procedure management