Corlytics, a global RegTech consolidator, has announced significant expansion and the appointment of a new leadership team across all major functions in the US market.
John Byrne, CEO and founder of Corlytics, said: “We have restructured to create Corlytics Group, integrating our industry-leading regulatory and compliance intelligence businesses.”
“Our major investment in the US reinforces North America as our key market. I am proud that we have grown our existing talented team and attracted a further A-team of seasoned professionals from top industry players to drive our ongoing leadership on the ground,” he said in a statement.
The newly appointed US leadership team will be headed up by industry veteran, Aidan Houlihan formerly of Napier.ai and BNY Mellon with over 15 years in financial services.
Other team members include Freddie Frith as VP of Sales North America, formerly Global Head of Sales at Clausematch; Lana Chan as Head of Customer Success North America, formerly head of customer success for North America at Fenergo; Chad Schaefer as Head of the Professional Services Team North America, formerly Global Head of Professional Services at Clausematch; Rory McGrath as Head of Product Consulting North America, formerly Head of PreSales EMEA; and Liam Cuddy as Senior Consultant North America, formerly Head of Sales North America for Fenergo.
This expansion builds on the momentum from the recent addition of three C-level executives: Steve Barnes as Group Technology Officer, Oisin Boydell as Chief Data Officer, and Ray O’Donnell as Chief Tech Architect.
Following a significant investment from Verdane earlier this year for a majority equity stake in the company, Corlytics continues its ambitious growth trajectory following major acquisitions in the last 12 months, including Deloitte’s RegTech platform in May 2024, and ClauseMatch, and ING’s SPARQ in 2023.
Since 2018, Corlytics has been a significant player in the US, working with 40% of the top 30 Systematically Important Financial Institutions (SIFI) globally.
“Corlytics boasts over 100 clients globally spanning banking, insurance and payments solutions, having successfully grown to become the pre-eminent regulatory technology player in the market. We are planning further innovative developments and acquisitions,” Houlihan commented.
“This will allow our clients and financial institutions globally, to have the most robust and compliant systems possible. Our plan is to go far beyond compliance and risk management to develop a deep understanding to use analytics as a business advantage,” he said.
Further ambitious growth is planned over the next two years, with the global RegTech market anticipated to grow at a CAGR of 23.6% between 2024-2032.
Since 2020 Corlytics has grown 60% per annum, predominantly driven by its core regulatory compliance products.
Corlytics management team forecasts double digit growth of approximately 35% CAGR through to 2028.
Completely new products, content classes and additional acquisitions are expected to contribute further to growth by 2028.
“The next 12 months at Corlytics will be transformative for the world’s largest financial services firms, enabling them to seamlessly comply with and implement ever-changing regulations,” Byrne said.
