Project Summary

Due to increasing regulatory and compliance requirements, financial institutions are finding they have to dedicate large proportions of their workforce (up to 10% in cases) to managing compliance and risk, and navigating a complex regulatory landscape. Unfortunately, much of this effort is still manual and human process heavy, which is inefficient and increases risk. Corlytics' solution provides AI powered regulatory intelligence, workflow automation, and optimisation across the full compliance journey.

The Innovation

A key innovation of the Corlytics solution is our large dataset of regulations and compliance related content captured and continually updated from sources worldwide, all of which is cleaned, annotated and formatted for machine readability. This powers our AI models, along with input from our in-house subject matter experts so we can deliver high accuracy and we follow a rigorous, science-based approach to model development and data security. Furthermore, whilst many solutions address specific areas of the risk and compliance lifecycle, we support the full end-to-end journey from horizon scanning to policies management.

Use of AI/ML

We have developed and use a range of AI/ML models, mixing both tried and trusted 'classical' methods e.g. NLP for their robustness and transparency, as well as using LLMs and generative models for their advanced text understanding capabilities. AI is critical for the automation and streamlining of compliance processes, and for managing risk through the ability to interpret large volumes of complex and changing data (e.g. regulatory updates, policy gaps etc). Our AI models augment the capabilities of human compliance experts and enable them to be more informed and efficient, and scale existing processes and workflows.

The Impact

Our solution helps financial institutions and other highly regulated industries in understanding, assessing and managing their regulatory and legislative compliance and risk. We work with 100+ clients globally - from global Tier 1 and regional banks, leading financial services providers, to re/insurers and regulators - solving the entire regulatory management value chain from regulatory monitoring to policy attestation.

The company's strong client base includes 40% of the top 30 Systemically Important Financial Institutions (SIFI).