Two of the leading tech innovators, digital consultancy Fimatix and regulatory risk intelligence firm Corlytics, have agreed to formalise their partnership.
Through this partnership, the two firms will integrate each other's services into their own offerings, creating a combined suite of products and solutions capable of augmenting regulation and change management systems across the financial services and insurance sectors.
Its partnership with Corlytics follows Fimatix's recent expansion of its private sector practice, including the appointment of Sanjeev Dhiman as Chief Business Officer for Private Sector Business and the acquisition of Idea Group in May.
Corlytics' risk intelligence solutions join Fimatix's governance and reporting tool Prodigy, information interaction service Nova, AI data manager Jaid, and outsourced recruitment tool Talent as a Service (TaaS). The partnership strengthens Fimatix's wider digital transformation offering, which enables organisations to expertly accelerate their digital development.
Fimatix CEO Tim Howarth said of the partnership: "I have worked with Corlytics since 2014, we share a passion for putting technology at the heart of compliance. With the team at Fimatix we've become well-acquainted with Corlytics' innovation, expertise, and state of the art regtech products. It has been impressive to see Corlytics' journey so far, and we are excited to be included in that as a formal partner in the future.
"I believe that together we can make significant improvements in risk and compliance effectiveness, benefitting organisations and end users throughout the financial services industry. As ESG compliance increases in intensity there is huge demand for more efficient regulatory solutions and Corlytics has been leading this charge."
Corlytics CEO John Byrne said: "We have been partnering with Fimatix since both companies' inception, working on transforming operating models essential in digitising the regulatory monitoring and change management processes at large financial services firms.
"Fimatix's rapid rise reflects the success of its clients in embracing change in digitising their businesses, and we are excited to be working with them in partnership. We believe that the Fimatix's Digital Transformation Experience and Capabilities can help customers to adopt our advanced regulatory technology, such that new ways of working, new operating models and new technology are fully adopted, used and deliver the value promised by these new technologies."