RegTech company ClauseMatch is one of the five tech companies to complete the LawTech Sandbox, the new programme from TechNation UK.
The inaugural cohort launched back in November 2020. ClauseMatch joined to work closer with legal professionals to better understand how technology can facilitate a better way of communicating and publishing regulations.
It also wanted to explore how the regulated firms can adopt and implement those regulations across the structure of the firms to be compliant and bridge the gap between them enabling an automated smarter way of complying to the regulatory rules.
TechNation started LawTech to create an environment for collaboration between disruptive technology companies and regulators. Mentors in the programme included the Financial Conduct Authority, IPReg, Bar Standards Board, CILEx regulation, Solicitors Regulators Authority and many others.
ClauseMatch offers an automated policy management and regulatory change management platform for financial institutions and other regulated firms. The platform empowers clients to digitise their policies and procedures.
ClauseMatch head of product Anastasia Dokuchaeva said, “The programme was highly instrumental for us for working with the ecosystem, understanding the challenges and the problems that both sides – regulators and the regulated – face.
“What was the most unique about it is that it provided us with a great opportunity to work with multiple regulators and have them come together at the round table all ‘in one room’, all at one time simultaneously, something that we were not able to do before.
“As part of the Sandbox, we were looking at several use cases such as anti-money laundering and KYC use case, ESG, privacy, onshoring post-Brexit. Meeting experts allowed us to tap into this wealth of experience and deep-dive more into the issues that the industry is looking at.”
The other companies in the cohort were Amplfi, Clause, Deep Tech Dispute Resolution Lab and Legal Utopia.
Copyright © 2021 FinTech Global