Case Study 7: How can our global team manage regulatory change on one central regulatory platform?

OUR CLIENT: Crypto-currency exchange
Our client is a new blockchain based cryptocurrency exchange. Leveraging blockchain technology and new market architecture, they provide a high-performance trading landscape with better and safer access to the latest cryptocurrency investment strategies. The company has been capitalised with over US$10 billion in cash and digital assets. It is headquartered in the Americas, with their compliance team centred in Asia.

SITUATION:
Crypto assets and currency is an emerging market which is seeing huge strides in expansion in recent years. Regulators across the globe are racing to establish regulatory frameworks to deal with the industry appropriately. Coupled with that are the must have regulatory compliance obligations for any financial services firm such as financial crime, cyber and prudential obligations.

Our client is a rapidly growing firm in this new and fast paced industry. As their business is growing, so is the regulatory scrutiny in the area of crypto assets and digital exchanges. With no system in place to manage their regulatory landscape or the relevant changes and no appetite to implement and manage a manual process, they were keen to identify a fit for purpose solution. Our client needed to act fast to implement a regulatory change management solution.

SOLUTION:

As our client is a young and rapidly growing firm and there were a number of processes which they had not bedded down yet or were changing as we worked with them. The Corlytics solution  supports the client’s underlying operating model. Corlytics had to be agile and flexible in order to ensure the solution supported the changing compliance processes of the client…