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Corlytics, the regulatory intelligence and policy compliance technology firm, has announced the acquisition of a digital regtech platform from Deloitte UK.

The announcement closely follows Verdane’s majority stake investment last month to cement Corlytics’ global category leadership. 

Corlytics, headquartered at NexusUCD in Dublin, works in developing intelligent regulations and taxonomies with regulators such as the FCA; and acquired the key policy management technologies of ING’s SparQ and Clausematch last year. It is the regtech partner of choice for the world’s largest financial services firms.

Plugged directly into international regulators, Corlytics is the only solution that enables clients to align with, and stay ahead of, regulatory demands, which increasingly require growing levels of proof of compliance.

L-R: John Byrne, CEO and founder, Corlytics; and Kent Mackenzie, COO, Corlytics and former Deloitte UK Partner and head of regtech.

Unique capabilities

The Deloitte UK regtech platform and its unique capabilities add considerable breadth and domain expertise to further Corlytics’ capabilities from interpreting regulatory change, to mapping policies and now to controls – empowering users to find, interpret, understand and accurately implement regulatory change.

It will extend Corlytics’ coverage in Europe and the US, and provide the capability to further augment the Corlytics platform for global Tier 1 organisations in financial services, but also into sectors such as big tech and pharma.

John Byrne, CEO and founder, Corlytics said: “This is a transformational acquisition for clients. The regtech market is growing and evolving fast, and Corlytics is positioned at the forefront. We continue to seek opportunities for sustainable expansion and consolidation, and are thrilled to incorporate this Deloitte UK platform and associated team.

Deloitte UK has been using our intelligent data for five years now, and I’m thrilled to take this relationship to the next level. Our ambition goes beyond intelligent data solutioning, we aim to establish a new horizon and set a new standard for how compliance is managed.

“The Corlytics business and this Deloitte UK regtech platform are hugely complimentary, and as a combination can offer a truly unique, end-to-end platform in the market. This is a game changer for our clients and the industry. Together, we can completely address the critical challenges clients are desperate to solve, and elevate the value and intelligence placed on regulatory content and management.”

Last month John Byrne received the 2024 NovaUCD Founder of the Year Award.

A total of 17 people that work within the Deloitte UK regtech platform will be joining Corlytics as part of the acquisition. Kent Mackenzie, Deloitte UK Partner and head of regtech, will join Corlytics as COO.

Cindy Chan, managing partner for risk advisory at Deloitte UK, said: “Having built this platform from scratch over the last eight years, we are extremely proud of the growth the team has achieved and the service that has been delivered to our clients. Following the approach from Corlytics to buy the platform, we feel that this sale offers the best opportunity for the team to continue to grow the business and develop their careers.”

2023 saw Corlytics make two significant acquisitions, ING SparQ and Clausematch, creating an unparalleled platform that manages the entire regulatory risk value chain on a global scale, elevating its extensive offer for Tier 1 organisations including ING, BNY Mellon, ScotiaBank and SwissRe.

Growth of global regtech market

Further ambitious growth is planned over the next two years, with the global regtech market anticipated to grow at a CAGR of 23.6% between 2024-2032.

Nils Vold, partner at Verdane, said: "We backed Corlytics as the regtech category leader just three weeks ago, and we are thrilled to already be supporting John and his excellent team on their first acquisition since Verdane’s majority investment.

"As specialist technology growth investors, we partner with leading entrepreneurs, to support them on both their organic and acquisitive growth journeys. This acquisition is a fantastic step forward for Corlytics, its people and its customers."

Since 2020 Corlytics has grown 60% per annum, predominantly driven by its core regulatory compliance products. The number of customers has roughly doubled during this period.

Today, it forecasts double digit growth of about 35% CAGR through to 2028. New products, content classes and additional acquisitions are expected to contribute further to growth by 2028.

Corlytics lines up digital regtech platform from Deloitte UK

Enterprise minister Peter Burke has unveiled Call 7 of the Disruptive Technologies Innovation Fund (DTIF).

The aim of the fund is to encourage collaborations by industry and research sector into the development and commercialisation of ground-breaking technologies. 

The launch took place in Mullingar, Co Westmeath, at the offices of Ostoform Ltd, the lead partner in a DTIF Call 3 project. Ostoform are working with two other project partners – Ross Polymer Ltd and Technological University Shannon – to develop an innovative ostomy pouch, used in the treatment of digestive and urinary conditions, which directs corrosive output away from the skin and improves patient wellbeing and quality of life. 

Minister Burke said: “The fund is an important government initiative which is helping to future-proof Ireland at a time of geo-political turbulence, economic uncertainty and supply chain disruption.

Utilising cutting-edge technologies

“The fund is seeking to encourage collaborative projects utilising cutting-edge technologies that will contribute to the achievement of Ireland’s economic growth. We want projects that will make a real difference to people’s lives, especially in helping us to improve our level of digitalisation and achieve our climate action targets. 

“The Irish enterprise and research sectors have regularly demonstrated their resilience and ability to adapt to challenges. We want to foster these capabilities by de-risking some of the costs associated with the development of truly disruptive, innovative projects."

Leo Clancy, CEO, Enterprise Ireland, said: “We are beginning to see ground-breaking technologies and business advancement from earlier participants of the DTIF programme, such as the cutting-edge solution that Ostoform, Ross Polymer Ltd and Technological University Shannon are developing to improve the well-being and quality of life of ostomy patients.” 

Projects that complement the priority enterprise policy objectives on digital transformation and integrating decarbonisation and net zero commitments, as set out in the White Paper on Enterprise, are welcomed.

Projects that help to drive the innovation and transformation opportunities that are needed in sectors such as construction are also encouraged. All projects will be expected to demonstrate a positive contribution to the sustainability targets in the Climate Action Plan. 

The government has already allocated €371m to 104 successful projects approved under the six previous DTIF calls. These projects cover areas such as life sciences, medical devices, ICT, artificial intelligence, manufacturing and environmental. 

Projects must be geared towards commercialisation over a three- to seven-year time frame. They must also align with Ireland’s six Research Priority Areas, namely ICT; Health and Wellbeing; Food; Energy, Climate Action and Sustainability; Manufacturing and Materials; and Business Services and Processes. 

Call 7 is a rolling call which is open for submission of applications until April 30, 2025.

 

€500m Disruptive Technologies Innovation Fund on the hunt to invest in new programmes

The Tyndall Explorer 2024 brought together seven teams from university and research centres across Ireland for this deep technology pre-commercialisation programme.

The programme was led by David McGovern, Patrick Morrissey and Mehrnaz Heidari of the SFI Research Centre, Irish Photonic Integration Centre (IPIC), based at Tyndall National Institute. Explorer was first launched in 2021 and now benefits from its partners’ network of experts, mentors, and investors: IPIC-the SFI Centre for photonics, Tyndall National Institute, amsOsram, CONNECT (the SFI Centre for Future Networks and Communications), Enterprise Ireland, Atlantic Bridge, IPCEI, Nova UCD, DogPatch Labs, MIDAS and Science Foundation Ireland. 

In the final pre-commercialisation showcase at Enterprise Ireland's office in Dublin, seven competing finalists presented their applications, which spanned various innovative ideas:

1- WingBeat: Cian White, Adam Narbudowicz, Maryam NorouziCong Danh Bui

Monitor pollinating insects using radar sensor

2- EnTICe: Cian O’Mathúna, Mike HayesEoin AhernMario Costanza

EnTICe Energy harvesting WSN Testbed

3- INGeC Technologies: Shafi Khadem, Sandipan Patra

Integrated Next-Gen Converter (InGeC) Technologies

4- EmoDub: Akbar Majidi

AI Dubbing with Emotional Analysis

5- RemoTest: Kiang Wei Kho

A wearable hematology analyzer for remote patient monitoring

6- PIXSA: Hadi Badri, Samira Jastan

Pixelated meta-optics for enhanced Spectro-polarimetry analysis

7- INTERLINE-HD: Tomasz Piwonski, Abhinandan Hazarika, Zhi Li

Miniaturization of holographic display technology 

Congratulations team PIXSA, explorer 2024 winner!

PIXSA, led by Hadi Badri and Samira Jastan, CAPPA MTU offers non-invasive blood sugar monitoring by integrating an innovative optical chip into smart wearables to enable painless monitoring.

Photodetectors only measure light intensity. This chip goes beyond, decoding the light's polarisation, a crucial but difficult-to-measure property. This richer data will significantly improve the accuracy and leads to revolutionising blood sugar monitoring.

Congratulations to all participants.

Explorer will be accepting applications for its next programme in October 2024 for a January 2025 start. Teams and individuals will be able to apply at www.tyndall.ie/explorer. If you have queries regarding Explorer, please contact a member of the team by emailing explorer@tyndall.ie.

Tyndall Explorer, deep-tech pre-commercialisation programme unveils 2024 winners

INIT, a global supplier of integrated planning, dispatching, telematics and ticketing systems for buses and trains, has announced that it will increase its capacity in Maynooth, Co Kildare. 

Highly skilled software developers create applications for public transport projects around the world, including for ticketing and real-time passenger information systems for transport operators and authorities in cities including Honolulu, San Diego, Los Angeles, Seattle, Atlanta, Nottingham, Dublin, Hamburg, and New Zealand.

On lookout for cloud software engineers

INIT opened its first Irish office in 2018, its first software development centre outside Germany and employs 25 people. From today, the office capacity has increased with space to accommodate up to 60 employees and INIT is on the lookout for further talented Java and Net cloud software engineers to continue their rapid growth. 

Matthias Kühn, INIT COO, underlined the importance of INIT’s Ireland branch: “In a little more than five years, our subsidiary in Ireland has exceeded expectations. We see this as confirmation that Maynooth is the right place to develop our innovative solutions for public transport.

"Doubling the staff and more than doubling their office capacity in Ireland will help INIT pave the way for continued success in the future. We are looking forward to receiving applications from qualified specialists for our development centre.”

Even before establishing its subsidiary, INIT had strong ties with Ireland, including Dublin Bus (Bus Átha Cliath). In 2010, INIT implemented the first fleet management and real-time passenger information platform for the Greater Dublin Area.     

INIT – supplier of IT solutions for public transport – to expand in Maynooth

When Carlo Polidori is driving and starts rubbing the back of his neck, he knows it’s probably time to take a break. The act is a sign that he’s getting tired behind the wheel.

Polidori, who is president of the Italian Association of Road Safety Professionals, drove for decades without being aware of his habit. He spotted it in 2022 when joining an EU project to come up with an advanced electronic device that can check people’s driving performance. 

 

Drowsy signs 

"Before, I had no idea that this was an indicator I’m getting fatigued," says Polidori, whose association – also known as AIPSS – promotes best practices in the field of road safety.

AIPSS is part of a research project that received EU funding to develop a better way for detecting the onset of mental and physical fatigue in drivers. Called FITDRIVE, the project runs for three-and-a-half years until the end of February 2025.

The FITDRIVE team, led by the ITCL Technology Centre in Spain, is building technology integrated into the car’s software that will send customised alerts to drivers when they should pay more attention to the road or even take a break.

"We observe the physiological status of a driver," says Polidori. "We look at when a driver is fit to drive and take action when they’re not."

While existing technology in the field can send alerts when people stray from a lane or drive erratically, it is mostly onboard software that isn’t customised for each driver.

Road tests

Driver fatigue is a contributing factor in 15% to 20% of serious road crashes, the European Road Safety Observatory said in a 2021 report.

 
'This system customises itself for each driver.' Carlo Polidori, FITDRIVE

 

About 20,400 people were killed in road accidents in the EU in 2023, according to the European Commission. While the figure represented a 1% decline compared with 2022, the commission said too few EU countries were on track to meet a target of halving road deaths by 2030. 

FITDRIVE is among a number of EU projects finding ways to bring down the number of road fatalities in Europe. Researchers believe that, with the right technology, people can be prodded into driving more safely.

The research challenge starts with the basics: knowing when exactly a driver is becoming tired. The FITDRIVE team is collecting this data through tests on groups of volunteers.

So far, the volunteers have driven a car simulator and ridden around on closed-off tracks in Italy and Spain under various weather conditions. Those tests took place in 2023.

Before the project wraps up, the plan is to conduct real world tests in Ireland, Italy and Spain.

The information collected during the first two sets of tests came from cameras watching the drivers’ faces and headsets to monitor brain waves.

The data will feed into an algorithm that, combined with an electronic bracelet, can detect when a driver is getting tired. The bracelet will monitor things like heart rate, arm-movement patterns and perspiration to note when a driver is becoming weary.

The algorithm will keep learning and adapting itself to each individual driver.

The system fine-tunes itself by continuously collecting data to build up a picture of each driver and assess risks during a particular driving session. In this way, it can detect individual cues of tiredness – such as when Polidori touches the back of his neck.

"That’s the big difference from existing systems to spot fatigue," he says. "This system customises itself for each driver. It can advise them of issues before they themselves realise it."

System upgrade

The current technologies that can recognise when a person is driving erratically or swerving from a lane are based on tests carried out on large numbers of volunteers and feature a one-size-fits-all algorithm for drivers.

Because everybody has a different driving style, these methods aren’t always accurate enough.

The project has 10 partners from seven countries including France, Germany, Spain and Sweden. Among the participants is Advanticsys, a Spanish company that specialises in sensors and software, and the European Driving Schools Association. 

The FITDRIVE technology might even be useful in self-driving cars, which for the foreseeable future will require passengers to supervise operations and be ready to take control if necessary.

For that to happen, a person in the vehicle needs to be alert at key moments rather than sleeping or reading. A system like FITDRIVE’s could be used in self-driving cars to monitor people inside and make sure they are alert enough to intervene.

Safer hauling

Helping to ensure that drivers of heavy-duty vehicles stay alert behind the wheel was the focus of another EU-funded project.

Called i-DREAMS, it wrapped up in April 2023 after four years and came up with a way to notify lorry drivers when they started driving in unsafe ways. Heavy-duty vehicles accounted for 14% of all road fatalities in the EU in 2020.

 
'We need to nudge the driver to drive more safely.' Professor Tom Brijs, i-DREAMS

 

The project brought together 13 partners from eight countries including Austria, Belgium, Greece, the Netherlands and Slovenia. It carried out tests on 600 drivers at sites in five nations.

Using data from the vehicles, the driver and the surrounding environment, the project team created a statistical measure of when a driver was in control and, if not, sent the person an audio alert via a smartphone app.

When a person drove too closely to the vehicle in front, particularly when the road was wet, a signal would be sent.

The app can also coach drivers to do better. During the project, points were awarded to test drivers based on how well they drove.

"The audio signals improved driving quality of test drivers," says Tom Brijs, who led i-DREAMS and is a professor in the department of traffic engineering at Hasselt University in Belgium. "Driving quality improved even further for those drivers who were coached in the app."

Insurance guarantee

The app is already being used by some businesses.

For example, an insurance company uses the app to monitor its insured lorry drivers – particularly at hauliers with poor reputations, according to Brijs.

Some companies, especially those with higher-than-average accident rates, have less access to affordable insurance.

The i-DREAMS app enables such hauliers to get insurance as long as all their drivers use the app.

Car manufacturers might also use this technology in future to check whether drivers using cruise control are really paying attention, particularly in dangerous conditions.

"We need to nudge the driver to drive more safely, particularly now that cars are becoming partly autonomous," says Brijs. 

This article was written by Tom Cassauwers and first appeared in Horizon magazine.

Wake-up call: How researchers are working on cutting road accidents with customised driver alerts

Neurological disorders affect the brain, spinal cord, and nerves throughout the body, and in severe cases, they can impact specific muscle movement. This makes it harder for people with these conditions to perform tasks ranging from handwriting and holding a knife and fork, to walking.

Therapy can be vital to help people with these conditions improve their motor skills, and research in robotics is ongoing to support and enhance treatment.

Not only could robotic techniques potentially supplement or enhance traditional therapy practices, but by reducing the demand on therapy services, the technology could also help to reduce patient waiting times.

Robot-assisted therapy for neurological disorders involves the patient touching and manipulating a physical control interface in response to robotic feedback in a process called haptic interaction.

Dr Aaron Yurkewich, assistant professor, Ontario Tech University, explained: “A robot provides a specific, measured force that the patient resists, or alternatively, that assists the patient. Through these exercises, the goal is for the patient to adapt over time, so when you take the force away, you can measure how the person responds under normal conditions.”

Investigating human neuromechanics and robotic rehabilitation

Research into the value of robotic interaction for patient assessment and therapy is ongoing, with positive results emerging. To consolidate and progress the study, Aaron and his colleagues lldar Farkhatdinov, Kings College London, as well as Joshua Brown and Etienne Burdet, both of Imperial College London, have formed the startup business, Human Robotix.

The team has developed new robotic interface and studied its use to study human neuromuscular system and treat the effects of stroke, the most common neurological disorder for adults. The designed modular robot enables researchers to investigate how the technology can assess and provide therapy for people with cerebral palsy, the most prevalent neurological condition in children.

Developing a system that could be available to practitioners and patients, the robot has to be compact and portable and able to be used in the research lab, clinic, or home. To fit these needs, the Human Robotix team has developed the HRX-1.

The neuromechanics robot is based around a hand- or foot-controlled grip that the patient moves, with the aim of tracking a target displayed on a screen.

Resistance or assistance in tracking the target is provided by the robot, which can be controlled by the therapist or researcher. The grip can also move freely, with no additional forces, to replicate normal, real-world conditions. The robot is modular and reconfigurable for wrist, elbow, and ankle, as well as bi-manual operation settings involving both upper and lower limbs.

Feedback achieves the right assistance-resistance balance

The system also pairs with an electromyography (EMG) unit to measure muscle effort and an electroencephalography (EEG) device that measures brain activity. Depending on this feedback, the assistance or resistance that the robot provides can be varied accordingly.

“When you add robotic assistance to rehabilitation, you want it to be an encouraging force, but you don’t want it to make all the effort for you because the patient isn’t going to get any kind of benefit,” says Aaron. “With feedback, we can control the robot to provide the right balance of assistance, until eventually, it can provide the right level of resistance to encourage patient adaptations.”

The motor is central to the assistance and resistance that the robot can provide. Up to 4Nm pulse torque is required to test a patient’s maximum strength, and precise control is also essential to achieve fine adjustment to torque and position.

Young Engineers Program

With support from maxon’s Young Engineers Program that supports projects from universities and start-ups around the world, Human Robotix specified maxon’s EC90 brushless DC motor, combined with a maxon EPOS4 position controller. This drive system provides torque resolution to 0.014Nm and position sensing down to just 0.01°.

The motor also needed back drive operation to allow patients free control with no assistive or resistive force, essential to establish a benchmark of regular condition operation.

For the robot to operate as a tabletop system, low motor height is also crucial. 

“Most tables aren’t adjustable, and to use the robot, the patient’s arms have to be positioned at a certain level, so another key reason we chose maxon’s EC90 flat motor was to minimise height, thanks to its compact, flat design,” says Aaron.

To use the robot with a patient, the HRX-1 has three different levels of control, based on the set-up time and programming expertise of each user, who could range from a physiotherapy clinician, to an engineering researcher.

Time-pressed clinicians, for example, can use the robot’s three-button control pad to select assistance, resistance, or no resistance modes. Alternatively, to refine control to the most precise level, the robot integrates with the MATLAB Simulink graphical programming environment.

“With the MATLAB Simulink level of control, the user can include algorithms for various stages of the exercises, commanding when, and how much, assistance or resistance will be provided,” said Aaron.

“We also have students working on AI, investigating the potential of taking signals from the brain, muscles, or directly from the motor encoder, to adapt the assistance or resistance while the exercises are taking place.”

Increasing the volume and quality of care

The robot is undergoing medical trials with settings such as Schön Klinik Bad Aibling, Germany, Evelina London, part of Guy’s and St. Thomas’ NHS Trust, and other institutions worldwide. Research includes using two systems at once to simulate bi-manual activities such as opening a jar, combined robotic and functional electrical stimulation therapy.

“Working on this project is so fulfilling because you can see the benefit, both to the patient and the clinician,” said Aaron. “Often, the clinician is struggling to provide as much therapy as they would like to, to keep up with demand, while for the patient, they might only be able to receive rehab when they’re with the therapist. With our robot, the HRX-1 has the potential to increase both the volume and quality of care.”

 

Robots enhance limb therapy for patients with neurological conditions

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