Clausematch

I recently had an opportunity to review clausematch prior to its recent February 2021 launch of their new Policy Portal. Founded in 2012, Clausematch provides automation of compliance management that enables financial institutions and other regulated companies to comply with their internal corporate governance documentation (standards, procedures, controls). 

Founded by Evgeny Likhoded and Andrey Dokuchaev, it is a 2014 graduate of the inaugural Barclays accelerator programme, BBVA Open Talent challenge winner, and is in the top RegTech companies selected by CB Insights and Dow Jones. The company continue to grow their product and expand their footprint in the market with key clients and partners.

Clausematch is a very logical and tidy application, making what should be simple in theory really simple in practice digitizing the workflow using NLP and metadata to map Obligations to Policy, Procedures and Controls providing transparency, efficiency and quality operations. 

So where does this fit into the lifecycle of Regulatory Change as a RegTech contender?

Clausematch is more of a platform solution rather than a point to point offering. At the outset, it enables you to efficiently manage consultation feedback through Regulatory Consultation and Publication. The Regulatory Change Management option enables transparency from a change in regulation, through to the impact analysis, implementation and change management. The new Policy Management Portal then enables you to collaborate across your company to create, manage and track policies and procedures in real time and online, no more paper.

How does it address the regulatory aspect ?

The product enables you to configure the regulatory landscape that impacts you. You are aware of what changes when it changes. Efficient workflow enables you to identify what you need to change, and when you do it is tracked to completion. Simple dashboards help keep you and your stakeholders informed and exceptions highlighted, no more waiting 2 years for an audit to show you what you missed.

What is the user experience ?

The usability of the product is clean and visually relatable, configurable workflow settings enable you to align processes, not being forced to work in a way that is unnatural to your teams, or having to tweak a process to make it fit your needs.

Is this worth a look ?

Absolutely, it has a specific use in the regulatory, policy and compliance teams, and some people may need to get their heads around the scale of data that is now instantly available at your fingertips, but this is real progress and it is great to see a normally under invested in function given a worthy transformation.

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