ClauseMatch has joined the Investment Association’s (IA) financial technology (fintechs) membership category.
The IA’s newly launched membership category is designed to boost engagement between fintechs and the asset management industry.
Compliance, legal, finance, operations and risk departments of global banks already use ClauseMatch to help automate impact assessments, streamline the implementation of regulatory change and to collaborate on high-risk and compliance documents across organisations.
The creation of the IA’s fintech membership is part of its drive to boost innovation and speed up the adoption of new emergent technology across the asset management industry.
In order to achieve this, in February this year, the IA launched Velocity, its fintech Accelerator for the asset management industry.
According to ClauseMatch, organisations that bring their compliance documentation to the ClauseMatch platform gain the ability to automate those tasks by applying machine learning to that data.
Keith Phillips, director for membership and enterprise at IA, said: “We are extremely proud to welcome ClauseMatch on board as the IA’s first fintech member. As a market-defining regulation technology firm, ClauseMatch can play a leading role in driving innovation across the buy-side and ensuring that the asset management industry remains globally competitive.”
Evgeny Likhoded, CEO and founder of ClauseMatch, said: "We are thrilled to join the IA's forward-looking fintech membership category and we are excited to offer the buy-side significant improvements to their compliance, risk and governance processes, and ultimately make them more efficient, effective and compliant."
He added: "Regulators and regulations have hit the financial industry hard ever since the financial crisis. Until recently, most of the organisations affected have been banks and the traditional ‘sell-side’ institutions.”
“Using technology to gain an upper hand, learning from the mistakes of the banks, and avoiding hiring armies of regulatory consultants and employees, the buy-side is well positioned to take advantage of the surge in regulatory technology companies."
.jpg)