Corlytics launches payment regulation tracker for PSPs

By Megha Bhattacharya

RegTech Corlytics today announced the launch of the payment regulation tracker for Payment Service Providers (PSPs). The Payments tracker provides a single view of all emerging payments regulation across the globe in a single location with interactive elements including sliding time windows and slice and dice functionality.

“Beyond the obvious legal risks, potential for loss of reputation and impact of heavy monetary fines on shareholder value, there are competitive and opportunity reasons to maintain a clear awareness of payment regulation to firms sitting within that space,” said John Byrne, CEO of Corlytics. “Our payments tracker is primarily to ensure compliance in this high-stakes regulatory environment but also offers new ways to automate and enrich across the firm.”

According to Corlytics, the Payments tracker aims to provide a completely automated payment tracker, helping to eliminate manual handling errors. The tracker is part of Corlytics’ stable of regulation solutions and offers a completely new way of managing and optimising your payment regulation monitoring. The tracker is configured to categorise payments into specific themes, including, PDS2, Open Banking, Digital currencies, Crypto, AML, Fraud and multiple other themes. The tracker enables teams to rapidly understand the trajectory of payments regulation across their regions of interest.

The Payments tracker is expected to help in the reduction of risk and elevation of opportunities driven by updated payment regulations.

Headquartered in Ireland, Corlytics is a regulatory risk intelligence firm. The firm works with global regulators., financial institutions and their advisors to provide data and analytics to inform future risk management