Corlytics launch revolutionary solution – the crystal ball of regulatory change management.Published on 31st March 2023
Corlytics, a regulatory risk intelligence company specialising in regulatory change management (RCM), today announced the launch of its revolutionary solution – the crystal ball of regulatory change management. The Corlytics Crystal Ball is an innovative tool that predicts future regulatory changes and supports clients to prepare for them.
“The Corlytics Crystal Ball is one of a kind,” said Corlytics CEO John Byrne, speaking from the future. “We are confident that it will revolutionise the way companies manage their regulations.”
The Corlytics Crystal Ball is an innovative tool that predicts future regulatory changes and supports clients to prepare for them. It does this by using machine learning, a proprietary method called Predictive RCM (Regulatory Change Management) and data from over a vast array of sources and spheres of influence including government websites, trade journals and publications, scientific studies, consultations, and proposals from regulators worldwide as well as its own in-house team of top legal and regulatory specialists.
The Corlytics team has spent years researching how regulatory change management can be improved through technology. This led them to develop Predictive RCM, a proprietary method that uses machine learning algorithms to predict future regulatory changes with an accuracy rate higher than 90%.
PREDICTIVE RCM & AUTOMATED PREDICTION OF REGULATION
The Crystal Ball provides users with early warning signals on upcoming changes in regulations so they can take appropriate action not just before they become mandatory or effective but before they’ve been drafted. The application covers all major regulatory themes relevant to financial services.
The innovative tool predicts future regulatory changes and supports clients to prepare for them by providing insights into how they could be affected by these changes. By using this unique technology, Automated Prediction of Regulation (APR), clients can identify opportunities in their business while identifying potential risks associated with new legislation or regulation before they occur – giving them an advantage over competitors who may not be aware of impending regulation until after it has been created, drafted or made public.
INNOVATION IN USER EXPERIENCE
Touch-free design is one of the most exciting areas in UI/UX design right now and the Corlytics solution utilises its proprietary Touch Free Interface Design, on a technology stack using Free Object Orientated Linage (FOoL), throughout this solution.
A key advantages of a touch free interface is that it reduces the number of physical inputs required, eliminating many ubiquitous infrastructures. It is also more fun, as interaction is more engaging than pressing buttons on a keyboard or moving a mouse around on the desk.
“Our unique approach recognises that regulations evolve over time and incorporates this into our software’s predictive capabilities, which is something no other solution currently does,” explained John Byrne, whose team member Mike O’Keeffe is the brilliant mind behind the creation of the crystal ball which has earned him several awards including nominations for the Turing award and Nobel prize for Economics.
Firms who have trialled Corlytics’ software and found that it can save them money by helping them manage regulatory change more effectively.
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