Corlytics

A nice write up on the Regtech Summit panel around 'An Holistic Approach to Regulatory Change Management', including Corlytics Head of Legal & Regulatory Analysis, Susie MacKenzie. Key points discussed by the panel included: 📌Data-driven decision making and using advanced analytics and AI to process regulatory data, extract insights, and ensure compliance with changing regulations. 📌Technology integration It's key to integrate RegTech solutions into existing workflows and ensure they're scalable and flexible. 📌Cross-functional collaboration and having a unified approach including to regulatory management including: compliance, legal, IT, and operations 📌Regulators and the importance of having good communications with regulators to stay informed about upcoming changes. 📌Be proactive in managing risk through anticipating regulatory developments and get your compliance in line. Panel moderated by Mary Kopczynski Co-Founder, Women in RegTech New York (WIRTNY) & regulatory expert. Sateesh Kumar C., Head of Digital Transformation Office, Societe Generale Anand Narayanan, Head of Regulatory Change Management, Sumitomo Mitsui Banking Corporation – SMBC Group Jen-Larie Tumminello, Executive Director, Global Finance, Policy & Conduct Risk, Morgan Stanley RegTech Insight, from A-Team Group #regtech #ateam #compliance https://lnkd.in/eKrGam5Q

Epiphany, a word with two meanings 😃 1. The arrival of the three wise men and a Christian feast 2. A moment of realisation. If you'd like to know more about how Corlytics helps its clients with simplifying the implementation of regulation from horizon scanning to policy management then please contact us for a demo or more information 👉https://lnkd.in/e8chvMmW

Good morning! We hope you had a safe and refreshing winter break ❄️ Here's your first RegTech eXtra roundup for 2025, highlighting some of the key regulatory and compliance updates, as well as some industry predictions to start the year. 🇺🇸 US banks under heightened scrutiny The DOJ is ramping up oversight of corporate compliance programs, emphasising AI-driven gap assessments to manage risks in artificial intelligence and electronic communications. 💸 In 2024, US financial regulators imposed approximately $2.2 billion in fines on financial services firms for systems and controls failures. Meanwhile, US banks such as TD Bank, Capital One, Wells Fargo and USAA are expected to remain in the regulatory spotlight this year. 🤖 New comprehensive AI regulations in Asia South Korea has enacted its AI Basic Act, focusing on innovation and centralised oversight, which is contrasting with the EU’s stricter, product-liability-driven model. ⏳ DORA compliance countdown The EU’s DORA takes effect on January 17, 2025. Firms are advised to address key challenges first, particularly missing or not valid identifiers in reporting, to avoid compliance failures. 🇪🇺 2025 transforming payments in the EU The Instant Payments Regulation (IPR) requires EU banks to implement instant payments infrastructure by January 9, 2025. Additionally, PSD3, PSR and ISO 20022 are set to revolutionise payment systems, enhancing security, efficiency, and interoperability by late 2025. 💡 In other news Dubai dismantles a $175M money-laundering network. Australia prepares for a flurry of new regulations for 2025 including climate and digital platform regulations. Quote of the Week (condensed) "2025 will focus on unified risk management and the industrialisation of GenAI, enabling human-led decision making at scale to address exponential risk." – Ted Datta via Moody's Blog 👇 Click the article to read more 👇 Subscribe to RegTech eXtra by Evgeny Likhoded and Anna Antimiichuk - link in the comment section. Have a great week.   #regtechx #regtech #compliance #regulation #AI #news #roundup

🌟 Exciting Opportunity - Product Analyst 🌟 Corlytics seek a Product Analyst - permanent, hybrid role based in Ireland. ✨ Why Join Us? Competitive salary & benefits Professional growth and development opportunities Hybrid working model for flexibility Collaborative and innovative work environment If you are ready to make a tangible impact, we’d love to hear from you. To apply 👉https://lnkd.in/exG-_Uza www.corlytics.com to learn more about us. #Jobs #Ireland #Regtech #Fintech #Productanalyst

Barclays loses judicial review of motor finance case. Barclays Bank has lost a judicial review of a decision by the Financial Ombudsman Service relating to the sale of a motor finance agreement involving a discretionary commission arrangement (DCA). The opaque commission model was banned in 2021. #ComplianceCorylated #Barlcays #MotorFinacne #LostCase #Legal

🌟 Exciting Opportunity - Product Analyst 🌟 Corlytics seek a Product Analyst - permanent, hybrid role based in Ireland. ✨ Why Join Us? Competitive salary & benefits Professional growth and development opportunities Hybrid working model for flexibility Collaborative and innovative work environment If you are ready to make a tangible impact, we’d love to hear from you. To apply 👉https://lnkd.in/exG-_Uza www.corlytics.com to learn more about us. #Jobs #Ireland #Regtech #Fintech #Productanalyst

If New York is known as the city that doesn’t sleep then regulation is the topic that just keeps giving. If you would like to know more about how Corlytics helps its clients with better managing their regulatory environment from horizon scanning, through analytics and policy management - contact us at insights@corlytics.com or www.corlytics.com https://lnkd.in/ebWF2jmp

As the RegTech sector, along with compliance teams in regulated industries, continue to examine the impact of generative AI, here’s some thoughts on the issues. https://lnkd.in/efh-zzJE

Good morning, Happy Monday! We hope you had a relaxing weekend. Key news and updates of this week's round-up include:: 🇬🇧 UK: FCA and cryptoassets The FCA has embarked on its cryptomap journey and released a discussion paper (DP24/4) outlining its vision for cryptoasset regulation, with feedback closing on 14 March 2025. 🇪🇺 EU: FATF Travel Rule Implementation Starting 30 December 2024, the FATF Travel Rule will apply in the EU. A survey by GDF invites CASPs to share insights on readiness for this major shift. 📌 Fraud and Payment Systems The Payment Systems Regulator (PSR) released a report highlighting rising fraud during the holidays, with 54% of scam incidents linked to Meta platforms. PSR urges collaboration between social media, technology platforms and payment firms to address these vulnerabilities. 🇺🇸 US: OCC Annual Report released The OCC’s 2024 report emphasises resilience in federal banking systems amidst evolving challenges, including digital transformation and climate-related risks. 📌 A DORA compliance dry run revealed that missing identifiers are the leading cause of reporting failures. Firms are advised to act promptly ahead of 17 January 2025. Quote of the Week (condensed) "Please act now. Please go and obtain an LEI, because without [it], you will not be able to report and you will not be able to meet your obligations under DORA." – Oleg Shmeljov, Senior Policy Adviser, EBA via Compliance Corylated 💡 In other industry updates: The Financial Stability Board recommends measures to address risks in non-bank financial sectors. HSBC faces legal action by ASIC for failing to protect scam victims. FINMA, Swiss Financial Market Supervisory Authority, released guidance on AI risk management. The HKMA tests GenAI use cases in financial services with 10 banks and 4 tech partners. According to State of FinTech report, Fintech companies are growing faster than incumbents, and in 5 years they'll overtake if they keep it up. Chime Financial digital bank reportedly prepares for an IPO. As the festive season approaches, we want to thank you for being with us throughout 2024! 🎄 Wishing you a joyful holiday season and an exciting New Year ahead. Click the link👇 to read more. Have a great week. #regtechx #regtech #compliance #regulation #AI #tech #news #roundup

✨❄️ Season's Greetings from Corlytics! ❄️✨   As 2024 comes to a close, we want to thank our clients, partners, colleagues and our incredible community. Your support fuels our mission to make compliance more efficient and impactful.   Wishing you all a joyous holiday season filled with peace, laughter and cherished moments. Here’s to a happy and impactful 2025 together! 🌟 #HappyHolidays #SeasonGreetings #regulatoryintelligence #compliance