17 July 2018
Visit www.gemalto.com

Corlytics named by Allen & Overy in its regtech programme

25 August 2017  |  6636 views  |  0 Source: Corlytics

Magic Circle law firm, Allen & Overy, has named Corlytics as one of the eight companies selected to move into its Fuse programme. Fuse is a newly launched innovation space where its lawyers and technology firms team up to develop legal, regulatory and deal-related improvements.

Corlytics, global leaders in regulatory risk intelligence, was selected for its advanced Artificial Intelligence (AI) modelling that it has used to develop the world’s deepest regulatory enforcement database. The internal team at Corlytics is already made up of leading data scientists, seasoned technologists, proven banking risk practitioners and expert lawyers. Making integration into the broader Fuse eco-system a natural fit.

The Corlytics team is already working with regulators and tier one banks, providing regulatory risk intelligence and compliance heat maps. Having been selected to join Fuse, Corlytics is looking to make the most of the expertise within Allen & Overy. This will allow Corlytics to further access the market, get expert mentoring for its legal teams and insight on optimising its risk intelligence.

Over 80 RegTech and LegalTech firms applied to join the programme with multiple companies giving pitches, before the successful eight were selected. The companies were asked to present to a series of regtech and legaltech experts from Allen & Overy, Balderton Capital, The Funding Circle, JP Morgan and Amazon.

Come September, the selected firms will work in a specially-designed area, housed within Allen & Overy's London offices.

Once in residence, firms will have access to the expertise of Allen & Overy lawyers, technologists and clients to co-operate on developing practical solutions to some of the troubles faced by financial institutions and law firms today.

Mike O’Keeffe, general manager of Corlytics Solutions said, “We are very excited about the opportunity to work in Fuse. Allen & Overy has proven itself to be to the forefront of the legal and regtech revolution. We believe that this is a great opportunity for Corlytics to benefit from the guidance and experience of A&O technologists and lawyers to further our global regulatory taxonomies, and interpretation of regulations. We believe that A&O and Corlytics have a unique opportunity to bring combined offerings to market to the benefit of both A&O’s and Corlytics’ customers.”

Three areas of innovation have been fast developing for the legal sector: technology supporting legal advice, law firms and in-house legal functions; technology supporting regulatory compliance; technology changing how companies and financial institutions transact and negotiate deals with each other.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10435 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9416 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8779 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7766 views comments | 1 tweets | 5 linkedin
Banks stand to reap $512 billion revenue boost from 'intelligent automation'Banks stand to reap $512 billion revenue b...
7562 views comments | 21 tweets | 30 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job