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<p class="p-rich_text_section"><b data-stringify-type="bold">London, 20th October </b></p>
<p class="p-rich_text_section">Encompass Corporation, the provider of the leading dynamic Know Your Customer (KYC) process automation platform, has been announced as part of Chartis Research’s <span style="color: #4bbb87;"><a class="c-link c-link--underline" style="color: #4bbb87;" href="https://www.chartis-research.com/risk-data-technologies/7947011/risktech100r-2024" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.chartis-research.com/risk-data-technologies/7947011/risktech100r-2024" data-sk="tooltip_parent">RiskTech100 list</a></span> for the first time.</p>
<p class="p-rich_text_section">Widely considered as the most comprehensive independent study of major players in risk and compliance technology, the annual list ranks the top 100 organisations across various risk and compliance categories.</p>
<p class="p-rich_text_section">It is compiled by industry research and analysis firm Chartis, using the knowledge and insights of a panel of industry experts, with representatives from household names including Barclays UK, PwC and BNY Mellon.</p>
<p class="p-rich_text_section">While calling out the organisations dominating the space overall, several ‘rising stars’ are also highlighted for having a unique place in the market.</p>
<p class="p-rich_text_section">In making its debut appearance on the prestigious list, the impact of Encompass, which helps top global banks transform their KYC processes every day, is underlined. This recognition also comes hot on the heels of the organisation winning the ‘Established Trendsetter’ category of the Discover Perfect Pitch competition held during SIBOS 2023, the premier financial services event.</p>
<p class="p-rich_text_section">The RiskTech100, the go-to for clear and accurate analysis of the marketplace, is published within a report that delves into the industry today, featuring a broad range of vendors from across the sector.</p>

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<div class="p-rich_text_section"><b data-stringify-type="bold">Wayne Johnson, CEO and co-founder at </b><span style="color: #4bbb87;"><b data-stringify-type="bold"><a class="c-link c-link--underline" style="color: #4bbb87;" href="https://www.encompasscorporation.com/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.encompasscorporation.com/" data-sk="tooltip_parent">Encompass Corporation</a></b></span><b data-stringify-type="bold">, commented:</b></div>
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<div class="p-rich_text_section">“We are proud to be included in the RiskTech100 this year. To be named on this respected list, researched and validated by independent experts, is testament to the impact of, and need for, Encompass – as well as the strides we have made in the last 12 months particularly.</div>
<div class="p-rich_text_section">As we continue to grow our business and enhance our offering, accomplishments like this highlight that our work is understood, valued and, most importantly, crucial to the customers and the industry we serve.</div>
<div class="p-rich_text_section">In the last decade, we have established ourselves as the leading provider of dynamic KYC automation process automation for banks and financial institutions attempting to navigate the ever-changing regulatory landscape while delivering top-class customer experience and maximising business efficiency. The need for technology like ours has never been more pressing, as more institutions look to digital transformation to enhance operations and future-proof effectively.”</div></blockquote>
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<div class="p-rich_text_section"><b data-stringify-type="bold">Sid Dash, Chief Researcher at </b><b data-stringify-type="bold"><a class="c-link c-link--underline" href="https://www.chartis-research.com/" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.chartis-research.com/" data-sk="tooltip_parent"><span style="color: #4bbb87;">Chartis Research</span></a></b><b data-stringify-type="bold">, added:</b></div>
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<div class="p-rich_text_section">“A new entrant to this year’s rankings, Encompass is aligning itself with key industry trends. This is particularly notable in its product development, which is converging with broader automation and operationalisation trends in KYC and related areas.”</div></blockquote>
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<div class="p-rich_text_section" style="text-align: center;"><em><b data-stringify-type="bold">-ENDS-</b></em></div>
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Encompass named among industry leaders on RiskTech100 list

<b data-stringify-type="bold">London, September 1st, 2023</b>

Switzerland has drafted new rules to tighten money laundering regulations, holding lawyers, consultants and banks more accountable for reporting, scrutinising and controlling risks, setting a higher standard for the rest of Europe.

Swiss banks make it the world’s biggest manager of offshore wealth and their government has drafted new rules that will be presented in parliament in 2024 following consultation, with the aim of fighting old perceptions that it is a hot destination for criminals to stash ill-gotten gains.

They have received international pressure to provide more insight into corporate ownership where companies and entities like trusts cloak the identity of real beneficiaries and if the rules are accepted, those who manage such businesses or clients will be subject to due diligence rules and reporting obligations.

In an attempt to fight money-laundering via shell companies, the Swiss government also outlined plans to create a central registry which would track who actually owns legal entities, detailing company owners while giving the finance ministry power to impose sanctions.

The news follows increased global attention regarding financial crime as other European countries tightening their approach and implement measures to improve regulation.
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<span style="color: #4bbb87;"><b data-stringify-type="bold">Dr Henry Balani, Global Head of Industry &amp; Regulatory Affairs for </b><span style="text-decoration: underline;"><b data-stringify-type="bold"><a class="c-link c-link--underline" style="color: #4bbb87; text-decoration: underline;" href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.encompasscorporation.com_&amp;d=DwMF-g&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=jRCBVwXYbMpab0TY7UGlacGVHbJyNBHMB32l5cDAWJQ&amp;m=o6gflyfsZt3607KUHI-OgXwmRu46A3nuf-KiLqYpbdmZj-KmjhLeBeoCfGjGQLfj&amp;s=cAQpvIYfxEOsqKMh2pwIg-RmbuDswvaA_XsXgrPZzmk&amp;e=" target="_blank" rel="noopener noreferrer" data-stringify-link="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.encompasscorporation.com_&amp;d=DwMF-g&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=jRCBVwXYbMpab0TY7UGlacGVHbJyNBHMB32l5cDAWJQ&amp;m=o6gflyfsZt3607KUHI-OgXwmRu46A3nuf-KiLqYpbdmZj-KmjhLeBeoCfGjGQLfj&amp;s=cAQpvIYfxEOsqKMh2pwIg-RmbuDswvaA_XsXgrPZzmk&amp;e=" data-sk="tooltip_parent">Encompass Corporation</a></b></span><b data-stringify-type="bold">, commented:</b></span>
<blockquote>“The continuing global attention on financial crime and sanctions has forced regulators to up their game with regards to money laundering regulation, with Switzerland the latest example to level up its economic crime agenda. We’ve seen in the UK, for example, the introduction of the Economic Crime Bill as a direct result of public pressure against Russian Oligarchs, sparking a closer inquiry into ownership structures and it’s important that this approach spreads through to European countries to bolster the response to economic crime, with regulation a key component.

As part of the fight against financial crime, organisations themselves should embrace technology for robust Know Your Customer (KYC) processes, which ensure compliance and detect financial criminals faster. Utilising dynamic KYC process automation, for example, is crucial to navigating complex ownership structures to identify beneficial owners, enabling businesses and regulators to take collaborative action to truly tackle financial crime.”</blockquote>

Money laundering regulations continue to tighten across Europe

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<strong><span lang="EN-US">London, July 19</span><span lang="EN-US">th</span></strong>

<a href="https://www.innovatefinance.com/company/encompass/" target="_blank" rel="noreferrer noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.encompasscorporation.com/&amp;source=gmail&amp;ust=1689773085547000&amp;usg=AOvVaw0MpgKjHCd9GT0zyN0FWP64"><span lang="EN-US"><strong><span style="color: #4bbb87;">Encompass Corporation</span></strong></span></a><span lang="EN-US">, the provider of the leading dynamic Know Your Customer (KYC) process automation platform, has unveiled a new whitepaper providing critical <wbr />expertise that will help banks accelerate digital transformation, and move towards a perpetual KYC (pKYC) operating model. </span>

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<span lang="EN-US">pKYC, which uses </span><span lang="EN-US">automation to detect risk more accurately and quickly while improving operational efficiency and customer experience, i</span><span lang="EN-US">s a strategic driver for organisations striving to remain competitive in a rapidly evolving financial landscape. </span>

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<span lang="EN-US">Gaining executive level backing is a pivotal step on the journey to pKYC, and the whitepaper, titled ‘earning executive sponsorship for pKYC transformation’, <wbr />delves into the challenges and issues to consider. It also sets out best practice guidance for bringing key stakeholders on board – an important ingredient for banks looking to transform processes with technology today.</span>

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<span lang="EN-US">Building on Encompass’ revolutionary pKYC maturity model unveiled earlier in the year, further insights are also delivered on how banks can get the most out of digital transformation, regardless of whether pKYC is the end goal. This includes how to frame the benefits of utilising the best in technology solutions – from risk reduction to slashing costs – and how to ensure the right stakeholder is aligned to a project to see results.</span>

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<span lang="EN-US">The paper, authored by Howard Wimpory, KYC Transformation Director at Encompass, and Global Head of Industry and Regulatory Affairs, Dr Henry Balani, outlines the value of digital KYC profiles, which use KYC process automation to gather, merge and analyse data and documents in real-time to inform KYC decisions. This brings positive impacts in areas such as risk mitigation, accuracy and scalability. </span>

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<strong><span lang="EN-US">Howard Wimpory, KYC Transformation Director at<span style="text-decoration: underline;"> </span></span><span style="color: #4bbb87;"><a style="color: #4bbb87;" href="https://www.encompasscorporation.com/" target="_blank" rel="noreferrer noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.encompasscorporation.com/&amp;source=gmail&amp;ust=1689773085548000&amp;usg=AOvVaw2guRGh0QS24jDDfHBTkxTR"><span lang="EN-US">Encompass Corporation</span></a></span><span lang="EN-US">, commented:</span></strong>

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<blockquote><span lang="EN-US"> </span><span lang="EN-US">“In a competitive market, now, more than ever, banks require the tools to maximise <wbr />operational efficiency in order to stay ahead. The manual processes that were once straightforward and linear are no longer sufficient, with the implementation of technology-led processes, such as pKYC, an imperative to long-term success.</span>

Leveraging automation, and specifically relying on digital customer profiles, which monitor in real-time to improve risk mitigation, reduce costs and support business scalability, is a crucial element of a game-changing endeavour.

While the journey to pKYC is not an overnight one, it must be realised that there are significant incremental <wbr />gains available. Supported by real, experience-led insights and expertise, banks can confidently embark on a meaningful digital transf<wbr />ormation project – towards pKYC or otherwise - that will reap rewards now and in the future.”</blockquote>
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<strong><span lang="EN-US">Dr Henry Balani, Global Head of Industry and Regulatory Affairs at </span><a href="https://www.encompasscorporation.com/" target="_blank" rel="noreferrer noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.encompasscorporation.com/&amp;source=gmail&amp;ust=1689773085548000&amp;usg=AOvVaw2guRGh0QS24jDDfHBTkxTR"><span lang="EN-US"><span style="color: #4bbb87;">Encompass Corporation</span></span></a><span lang="EN-US">, commented: </span></strong>
<blockquote><span lang="EN-US">“</span><span lang="EN-US">As an increasingly stringent regulatory landscape develops in response to the prevailing threat of financial crime, it is vital that banks prioritise compliance an<wbr />d bolster their own processes by utilsing technolo<wbr />gy-led solutions, such as dynamic KYC process automation.</span>

Manual KYC not only requires a large amount of time and resource, but it is cumbersome and slow when it comes to keeping pace with changes in regulations, increasing risk for institutions. Aside from this, there is also the regulators to consider, with it being widely expected that banks look to the technology available to them and how they can bring solutions into operations.

It is for these reasons that the time is now for banks looking to accelerate their transformation initiatives and effectively tackle the pertinent global issue of financial crime.”</blockquote>
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<span lang="EN-US">This whitepaper supports Encompass’ goal of elevating t<wbr />he pKYC conversation within th<wbr />e industry by sharing the experiences and opinions of its pKYC Advisory Board, <wbr />chaired by Dr Henry Balani and comprising <wbr />representatives from leading global banks and a select group of trusted data, technology and consulting partners.</span>

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<p style="text-align: center;"><strong>Read the whitepaper here:</strong> <em><a href="https://insights.encompasscorporation.com/earning-executive-sponsorship-pkyc-transformation"><span style="text-decoration: underline;"><span style="color: #4bbb87;"><strong>E<span lang="EN-US">arning Executive Sponsorship for pKYC Transformation</span></strong></span></span></a></em></p>
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<p style="text-align: center;"><strong>-ENDS-</strong></p>

Encompass boosts expertise to help banks on the road to pKYC

<p>A full and accurate picture of beneficial ownership is the foundation of effective KYC.</p>
<p>Manually building this picture from a plethora of documents and third party data sources, however, is a long, expensive and error-prone process.</p>
<p>Encompass’ intelligent process automation conducts live document and data collection, analysis and integration from public and premium sources to bring transparency to complex corporate structures and ultimate beneficial ownership, delivering the most accurate and complete KYC on demand.</p>
<p>The full picture of a customer significantly enhances the effectiveness and efficiency of subsequent KYC activities including screening and IDV - both of which can be carried out seamlessly in the Encompass platform if required.</p>
<p>All information on a customer, along with supporting documents, is dynamically compiled into a comprehensive, digital KYC profile that Encompass can also monitor for ongoing regulatory risk.</p>


Encompass

A full and accurate picture of beneficial ownership is the foundation of effective KYC.

Manually building this picture from a plethora of documents and third party data sources, however, is a long, expensive and error-prone process.

Encompass’ intelligent process automation conducts live document and data collection, analysis and integration from public and premium sources to bring transparency to complex corporate structures and ultimate beneficial ownership, delivering the most accurate and complete KYC on demand.

The full picture of a customer significantly enhances the effectiveness and efficiency of subsequent KYC activities including screening and IDV - both of which can be carried out seamlessly in the Encompass platform if required.

All information on a customer, along with supporting documents, is dynamically compiled into a comprehensive, digital KYC profile that Encompass can also monitor for ongoing regulatory risk.