Alternative Data > Best AI Platform
When Evgeny Likhoded - or Jay in short - started ClauseMatch, he thought he'd found the solution to the problem of document management in legal departments. As it turned out he found the key to something much bigger. 'It was a lightbulb moment,' he says. 'I just knew it would work - if I could get people to understand the benefits.
Work at top-tier banks and in the legal departments of large corporations provided valuable experience understanding that most firms work with high-risk documents in a completely outdated manner, which makes it arduous, risky and frustrating. Vital data, comments and approvals get lost easily. Going via long email chains, with hours spent searching for that critical comment which could be buried somewhere is torturous and inefficient.
As the banks are facing rapid changes in the regulatory space, more and more applications of today move into the cloud because of the advantages that customers get from having it accessible in one place from any device and the possibility for cloud applications to use and process this data in ways that were not possible in stand-alone environments. ClauseMatch's brand proposition is a unique one as it provides one source of truth for thousands of bank employees and allows fully automating regulatory compliance.
ClauseMatch is a software technology company that enables financial institutions to comply with their internal corporate governance documentation (standards, procedures, controls). It is a 2014 graduate of the inaugural Barclays accelerator programme, BBVA Open Talent challenge winner, and is in the top RegTech companies selected by CB Insights and Dow Jones. The company is working with several global financial institutions. The solution brings unprecedented productivity and transparency for Compliance, Legal, Finance, Operations and Risk teams saving millions in terms of time and resources, while significantly reducing risk and providing accountability.