encompass partners with The Wanda Credit Service to further strengthen China coverage
encompass, the only provider of simultaneous, real-time access to multiple sources of global company and person data, today announced a new partnership with The Wanda Credit Service, a subsidiary of Wanda Group (Wanda), a conglomerate of commercial management, culture, real estate and finance.
China’s position as a global financial superpower has led to the increased enforcement of financial crime laws. To protect themselves, regulated firms operating in the country, both local and international, must enhance the quality of their Know Your Customer (KYC) efforts. However, accessing the news and information needed to assess customer risk has traditionally been difficult in China. The new partnership between Wanda and encompass enables firms to easily verify consumer and business information based on Wanda’s registry, company and consumer data through the encompass platform.
According to encompass Managing Director, Paul Charmatz, “The key to robust and effective Know Your Customer is having access to the right data at the right point in the KYC process. encompass uses advanced technology to automate information and news discovery across all of the sources our customers require, and by integrating Wanda’s high-quality verification services on Chinese entities and individuals into our platform, we have significantly eased the regulatory burden for our customers.”
“Using technology to drive efficiency in regulatory compliance and customer onboarding is top of mind for our customers, and by integrating our data with the encompass automated KYC solution we can support this requirement for innovation,” commented, Jerry Ying, General Manager at The Wanda Credit Services.
about The Wanda Credit Service
Wanda Credit Service Co., Ltd. is a wholly-owned subsidiary of Wanda financial group within Wanda Group. Relying on the most complete business and consumer data records owned by Wanda Group, we use advanced data mining and analysis technology to analyze and apply on to our big data asset to form an accurate and precise company and consumer credit evaluation. Through our modular consumer data services and enterprise product lines, we offer the China’s most credible public internet credit reporting service.
Wanda Group was established in 1988 and has developed into a conglomerate of commercial management, culture, real estate and finance. It ranked 380th on the Fortune Global 500 List in 2016. In 2017, its assets amounted to 700 billion yuan with revenue of 227.3 billion yuan. Wanda Group is striving to become a model in corporate social responsibility. Wanda Group has been the employer that creates the most jobs in China for many consecutive years. In 2017, it created 195,000 service jobs that accounted for 1.5% of new employment nationwide in the year, including 84,000 jobs for college students.
For more information, please visit wanda-group.com
Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.
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