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Wednesday, April 25, 2018

Fintech

Corlytics to join next round of FCA sandbox

Jordan Williams | 9:00 Wednesday 20th December 2017

Regulatory risk intelligence firm Corlytics has announced that it will be involved in the next round of the FCA’s sandbox.

Corlytics will be supporting a top-tier global bank as part of the third round of participants.

It will be supporting the bank to track updates to regulations within the FCA handbook.

The firm recently partnered with the FCA to develop a new intelligent handbook.

John Byrne, CEO of Corlytics, said: “The value that the FCA has brought through democratisation of the handbook will now be realised through regulatory technology initiatives such as this.

“Tracking regulatory change and the risks associated with huge regulatory change projects has become a major issue for financial institutions.

“Not only are these programmes costly and take long periods to complete, they pose a significant risk to the bank if not tracked and risk assessed properly.”

The FCA sandbox provides a space for firms to test innovative products, services or business models in a live user environment.

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