Várri Consultancy adds Clausematch’s regtech solution to offerings

07 April 2023 Consultancy-me.com 3 min. read

Várri Consultancy has agreed a partnership with international regtech company Clausematch, becoming the first consultancy in the Middle East to offer the regulatory technology solution to clients in highly regulated industries.

Founded in 2012, Clausematch is a provider of solutions that helps multinational clients across regulated industries (including banking, energy, and insurance) digitise and optimise their regulatory operations and change management.

Clausematch’s cloud solution is according to its own records used by over 200,000 users in 60+ countries, with big names such as Barclays, Intesa Sanpaolo and a number of industry regulators among its client organisations. In 2022, the company bagged regtech awards in both the UK and US.

Várri Consultancy adds Clausematch’s regtech solution to offerings

“We are delighted to partner with Clausematch,” said Johnny Kollin, Founder and Managing Director of Várri Consultancy, adding that the collaboration comes at a timely moment. “Executives in regulated industries are finding it difficult and costly to stay updated on the constant stream of regulatory changes.”

Various studies over the years have shown that the cost of compliance – adhering to national and international regulations – has increased strongly over the past years. The trend is particularly notable in the banking sector, where recently introduced financial crime and risk regulations have meant that efforts required and costs have ballooned.

The regtech promise

This is where regtech such as Clausematch comes in, says Kollin. By tapping into the power of technology, banks can improve the efficiency and cost-effectiveness of their regulatory operations and enhance governance, while adding more value to business decision-making.

“The Clausematch platform allows companies to manage the policy lifecycle, link internal policies with external regulations, and demonstrate compliance to their stakeholders, improving their compliance and risk management efficiency,” he said.

Now the first formalised partner in the Middle East, Várri Consultancy will focus on bringing the Clausematch solution to clients in the financial services sector – the firm’s key area of focus.

The consultancy supports large institutions and also counsels upcoming players, including neobanks and entrants seeking to apply for financial services licences in the region. Clients that Várri Consultancy has worked for include KLAIM, Sun in Motion, ThreeEightSix, and Pripen.

“We look forward to combine our advisory services with Clausematch’s modern technology to better serve our joint customers in the region,” noted Kollin.

Partner ecosystem

Among the 20 or so listed partners of Clausematch worldwide are just a handful of consultancies, with Várri Consultancy joining the likes of Charco & Dique (a Netherlands-based player), Ingenia (a Singapore-based player), and PwC (a global consulting firm).

Claudia Coutinho-De Somma, EMEA Account Exeсutive at Clausematch, said the firm was delighted to work with Várri Consultancy. “They have significant knowledge and experience with regulated entities in the UAE. And the approach Várri Consultancy employs when providing clients with technology solutions is thorough, completely sincere, and objective, all of which are very valuable to us.”

Last year, Várri Consultancy was named one of the region’s leading consultancies for risk & compliance services.