Clausematch is one of the fintech companies that recently joined our community and did so at the same time as the announcement of its partnership with Intesa Sanpaolo. Double good news for the fintech ecosystem, another story of a collaboration between startups and banks to keep track of and share with. We interviewed Evgeny Likhoded, ClauseMatch CEO & Founder to get them to tell us better.

What does Clausematch deal with?

ClauseMatch deals with how banks and other regulated industries address regulatory compliance from the point of view of internal documentation. Whenever there is a change in regulation, the implementation of that regulation involves a lot of people and lots of effort. The implementation usually comes down to writing new policies and procedures or updating them and then communicating them to the employees. Then ultimately being able to show to the regulator that policy, a procedure or an internal risk control which is related to a particular regulation or an obligation has been implemented properly, communicated to employees and then checked for effectiveness. What we built at the core of the platform is the capability to work and manage internal policies in real-time, keep the full audit trail, so there are full enterprise workflow and collaboration. You can have hundreds of people working on the same document in different roles.

Big news about ClauseMatch

Recently we announced going live at Intesa Sanpaolo. This partnership means complete transformation and digitalisation of how Intesa Sanpaolo was approaching the management of thousands of cost management contracts with all the internal vendors across the global structure of the bank. The Bank now manages intra-group service contracts between internal suppliers (about 30 providers, e.g. Information Systems, Operations, Training, etc.) and about 70 Customers between Business Units and Legal Entities of the Italian and Foreign Group. Using a single platform allows the Bank to reduce the overall effort and shorten the timeframe. The Intesa Sanpaolo case shows how a RegTech company can first and foremost significantly optimise its business processes.

Internationalisation: where you are present and which new markets you are targeting

ClauseMatch is a London-based company. At present we are working with the UK market. In spring 2019 we launched operations in the Asia Pacific region out of Singapore. We’re also actively working with mainland Europe including Italy. And targeting the US market for the next year.

Why did you choose to join the fintech district community?

Italy is one of the regions where ClauseMatch is present. We see that there is an increasing interest in innovative RegTech solutions. The FinTech district community provides good connections with the market and the needed exposure for us.

Fintech 2020 events where you will be present

Each quarter ClauseMatch runs its own expert and networking events that cover different hot topics related to compliance. The panel discussions involve well-known subject-matter experts. The next such event is planned for the end of November. Besides this, we quite frequently organise policy management workshops with Michael Rasmussen. Just this October the workshop has taken place in London, Amsterdam, and Stockholm. Next month we’re bringing it to New York. Who knows, maybe one of the destinations for 2020 will be in Italy

Trakti is a unified platform for smart, self-executing and compliant contracts running on both private and public blockchain, streamlining the contracting process of medium-large enterprises, financial, insurance and regulated market operators. Trakti offers all the tools needed to securely streamline the acquisition and negotiation flows, and manage all corporate contracts in a unique infrastructure. The objective of Trakti is to assist companies from the beginning right up to the signing and monitoring of the contract in a fully compliant way.

“Our solution was born from a research carried out over the years that has now ended with the release of the Trakti infrastructure that is able to support both traditional contracts and smart contracts, blockchain implementations – explains co-founder and CEO Luigi Telesca – in recent years we have focused mainly on increasing our recognition in the universe of B2B contracts“.

Recently, Trakti has been invited to a series of professional events within the communities of IACCM, the global contract management association, as a thought leader in contract automation and smart contracts. Trakti has also won the Innovate Finance 360 pitch competition in the Regtech category as an innovative startup offering an end-to-end solution in this industry. Last but not least, Trakti R&D lab won the EU Commission tender on modelling the European economy as an ecosystem of contracts.

Trakti operates on the English and Italian markets. It works with medium and large companies, supporting them in optimizing the management and facilitating the automation of their contracts. “Our goal is to explain why smart contracts will be a key element in the management of relationships and process automation,” Telesca explains. “We have also started working with the European Commission in Brussels to explain how smart contracts will become a catalyst for the next industrial revolution. On 30 September we are organizing a workshop on smart contract ecosystems and their impact on GDP”.

As a platform that combines multi aspects of Fintech, Regtech and Lawtech, Trakti needs to have connections with both corporate and of startups worlds to find new business opportunities. This is why it joined Fintech District, looking for a catalyst that could put us in touch with these different stakeholders. Thanks to Fintech District we have been in contact with different entities and we think we can use all these networks of connections to carry on our growth process and facilitate the successful implementation of our strategy.

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