back Back

Corlytics acquires ING RegTech platform SparQ

By Gloria Methri

January 25, 2023

  • Compliance Regulatory
  • Corlytics
  • ING Bank Śląski

Corlytics, regulatory risk intelligence, compliance, Ireland, RegTechCorlytics has acquired SparQ, a regulatory monitoring platform spun out of ING bank, in a €5 million deal. Developed jointly by ING’s compliance and legal teams, the SparQ tool creates a single repository for all decisions and assessments related to regulatory change.

Corlytics first partnered with ING on SparQ in 2018 and has since provided regulatory information and risk data to 550 users across the bank.

The addition of SparQ to the Corlytics technology stack brings financial services organisations, the ability to identify new regulations or threats, construct robust controls around monitoring and oversight, and ensure appropriate policies are in place, end-to-end.

Corlytics’ CEO, John Byrne, said, “This acquisition is important – both for the financial services industry and Corlytics. SparQ technologies mean that we can close the regulatory compliance and obligations management loop – in a unified platform to automate, deliver and prove compliance. This deal sets the runway for further strategic acquisitions and is a clear signal of our ambitious program of managed growth.”

ING’s Chief Compliance Officer, Rein Graat, said, “In 2017, recognising the increasingly complex regulatory landscape, ING assembled a team of subject matter experts to develop innovative technology and transform regulatory change and policy management. The focus has been on end-2-end process integration, audit trailing, and global standardisation. SparQ has materially contributed to our efforts of demonstrating being in control.”

“Corlytics became a key partner in 2018 and it is fitting that after the global roll-out internally, the next stage of SparQ’s journey will be with the company that can bring its development to the next maturity level of being an industry-wide leading platform. We look forward to collaborating more intensively with Corlytics in this ongoing development.”

Previous Article

January 25, 2023

AstroPay launches VISA prepaid card in Peru

Read More
Next Article

January 25, 2023

Mastercard and ZoodPay partner to launch virtual installment card

Read More

IBSi Daily News Analysis

Merchants, payments, UAE

July 15, 2024

Compliance Regulatory

Global wealth growth rebounds with major shifts expected by 2030, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Daiwa Capital Markets Europe selects Delta Capita for CLM service

Read More


The Monday Roundup: what we are watching this week | July 15th

Read More


Thought Machine and Quantifeed partner to modernize banking

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024