Corlytics Acquires ING Regulatory Technology Platform SparQ

UK-based regulatory risk intelligence firm Corlytics has acquired ING SparQ to design a regtech platform, focused on `monitoring to policy` services.

This deal aims to design a platform focused on providing companies and organisations with services and products that will enable them to face complex and developed regulatory challenges. 

Following this acquisition, Corlytics will be able to use the technology stack provided by SparQ to bring the possibility to identify new threats, regulations, or changes to its clients. This will help financial services companies to control and monitor their business while having oversight over the development of the industry. Also, this will allow them to ensure appropriate policies are in place. 

According to Corlytics officials, the new services and solutions provided by SparQ technologies will allow the company to close regulatory compliance while keeping the management of the obligations in a loop. This will be done by creating a unified platform that will automate and deliver compliance. 

Corlytics has been in a partnership with ING since 2018, providing the company with multiple services, such as Risk, Compliance, Finance, Legal, and Regulatory Affairs Departments products and solutions. Those services are provided to ING using the SparQ platform, having in mind the end-to-end process integration, global standardisation, and audit trailing. 

(Source: The Paypers)