Amayztech Delivers Enhanced CoRI Filings Portal for the Securities Commission of The Bahamas

The enhanced Compliance and Regulatory Interface goes live as a major milestone in the Commission’s Project Butterfly digital transformation initiative, connecting regulatory applications, filings and internal processing through a redesigned digital service.

January 31, 2024 — The Securities Commission of The Bahamas (SCB) has launched its enhanced Compliance and Regulatory Interface (CoRI) Filings Portal, successfully delivered with Amayztech LLC as part of Project Butterfly. The go-live marks completion of the first phase of the Commission’s multi-phase initiative to modernize regulatory processes, digital services and the management of regulatory information.

Amayztech worked with the Commission to analyze regulatory and administrative processes, design the enhanced CoRI solution, digitize regulatory submissions and connect the external filing experience with electronic workflows supporting review and processing within the Commission.

The launch represents more than an updated online portal. It establishes a more connected path between the information a regulated entity submits, the steps Commission officers take to assess it, and the resulting regulatory record and communications.

Project Butterfly: the background

Project Butterfly began on May 27, 2022 as the Commission’s structured digital transformation program. Its objectives extend beyond any single application: simplify interactions with regulated entities, improve internal coordination, strengthen information management and make regulatory operations easier to administer without compromising oversight.

The initiative was designed around three related areas: assessing and modernizing more than 100 business processes; redesigning CoRI, the Commission’s external regulatory filings channel; and establishing a Commission intranet portal for internal workflow and task-management capabilities. The process-modernization effort included documenting and managing operating procedures so that technology changes could follow actual regulatory requirements and departmental responsibilities.

The Commission’s official Project Butterfly page identifies Amayztech as its digital transformation consultancy firm and outlines the scope of this Commission-led program.

CoRI itself predates Project Butterfly. An earlier portal had already enabled electronic applications and filings. The work culminating in this launch was the redesign and enhancement of that existing service, incorporating practical improvements informed by regulatory needs, operational analysis and feedback on the earlier experience.

What the enhanced CoRI portal delivers

The enhanced portal supports a more complete electronic interaction between the Commission and the businesses and individuals it regulates. Capabilities introduced as part of the first-phase launch include:

• Digital applications and regulatory filings: Online forms for applications and selected ongoing regulatory obligations, with information captured electronically rather than requiring a separate manual transfer from submitted documents.
• A clearer registrant and licensee experience: Access to a regulatory profile, submission of new applications and filings, and better visibility into filing history and submission progress where applicable.
• Electronic regulatory review: Applications and filings can be received, reviewed and processed digitally, with relevant decisions communicated to registrants and licensees through the portal.
• Connected workflows: Information moves from electronic submissions into defined review and processing steps, supporting officer coordination and reducing unnecessary handoffs between the external filing channel and internal work.
• More useful regulatory information: Structured information captured through digital forms provides a stronger basis for tracking submissions, operational reporting and later integration with the Commission’s broader information environment.

These improvements bring the applicant-facing service and the Commission’s internal regulatory work closer together. They also support a more consistent way to handle cases in which information must be checked, returned for clarification, reviewed by the appropriate officers or advanced through an approval process.

From business analysis to production go-live

Delivering an effective regulatory portal required understanding what happens beyond the submission of a form. Under Project Butterfly, Amayztech’s work combined business analysis, solution design, form and workflow digitization, implementation and operational readiness.

The project had to accommodate the realities of financial regulation: different legislative regimes and application types, supporting documentation, regulated entities and related individuals, multiple levels of officer review, ongoing obligations and the need to retain meaningful regulatory records. The aim was to make those steps work as a connected service rather than as isolated digital forms.

Close collaboration with the Commission’s project team, business owners and IT stakeholders was central to the delivery. The Commission defined and retained responsibility for its regulatory rules, review processes and decisions; Amayztech provided specialist technology and process-modernization delivery to support those requirements.

The successful January 31, 2024 go-live moved the redesigned CoRI from a modernization initiative into live regulatory operation, with an electronic channel for new applications, filings, review and communication. The Commission’s CoRI portal provides the entry point for the service.

A foundation for the next stage of regulatory modernization

The launch completes a significant first phase, but Project Butterfly is broader than CoRI alone. The Commission’s program also encompasses continued business-process digitization, internal workflow coordination, improvements to data structures and integration, and a longer-term direction toward more connected regulatory reporting and analysis.

By capturing structured information at the point of submission and tying it to regulatory processing, the enhanced portal provides a practical foundation for those later improvements. Further forms, departmental workflows and reporting capabilities can be developed around a functioning digital regulatory service rather than built in isolation.

For Amayztech, this engagement demonstrates the value of addressing regulatory operations as a whole: the constituent experience, legislative and procedural requirements, officer work, records and management information must be considered together. The first-phase CoRI launch is an important delivery milestone in that approach.

The Commission’s own Project Butterfly overview publicly documents the initiative and identifies Amayztech’s role as digital transformation consultancy.

About Amayztech

Amayztech LLC is a US-based technology consulting and product company that modernizes complex, rule-heavy operations. The company helps regulated organizations and other businesses connect digital portals, workflow automation, data and reporting, and the processes behind them—building systems that are practical to operate, control and enhance over time.

For more information, explore Amayztech’s regulatory and supervisory technology services on this website.