How a personal setback sparked a global RegTech solution

Every meaningful innovation starts with a problem. Often one that hits close to home.

For me, that problem was not theoretical. It came with a price tag of millions and a sharp realisation: financial crime is not some abstract threat. Instead, it is real, it is present, and without the right tools, it is dangerously easy to fall victim.

A hard lesson in financial crime

Years ago, my co-founder and I made what looked like a promising investment. The opportunity ticked all the boxes on paper, yet what followed was a wake-up call that would change the course of our careers, and the Know Your Customer (KYC) landscape.

We had unknowingly invested in a project led by individuals with serious criminal histories. Not minor regulatory blips, but criminal backgrounds that, if we had had access to the right information, would have stopped us in our tracks.

Traditional due diligence was not enough

The due diligence we had relied on had not surfaced the warning signs. And by the time we discovered the truth, it was too late.

The exit was difficult. The lessons were expensive. But the pain sparked something powerful: a realisation that traditional due diligence methods were fundamentally broken. It was not just our problem. Banks, law firms, investors, and corporates were all grappling with manual, fragmented processes. Risk was hiding in plain sight.

So, we asked ourselves: What if there was a better way?

Reimagining KYC: The birth of Encompass

We envisioned a technology-driven solution that could:

• Instantly connect disparate data points
• Reveal hidden relationships
• Provide meaningful insights – in hours, not weeks

That vision became Encompass. And from our earliest demo, a short video showing how a criminal conviction buried deep in public records could be surfaced with ease, we knew we had struck a nerve. Professionals across legal and financial services saw the potential immediately.

Transform KYC for a competitive advantage

Since those early days, the world of KYC has only grown more complex. Regulation has evolved and client expectations have skyrocketed.

Today, KYC is no longer just a compliance requirement. It is a competitive differentiator. Corporate and institutional banks that can accurately verify client identities faster than their peers hold a significant advantage.

A new chapter: Introducing EC360 and Corporate Digital Identity to transform KYC

That is why the first quarter of 2025 marked a major milestone for Encompass.

We launched EC360, our new Corporate Digital Identity (CDI) platform to transform KYC, designed to deliver fast, flawless identity validation and verification for corporate clients. For the first time, publicly available data and private client information are brought together in one platform, delivering unparalleled insight and efficiency.

CDI represents more than a technological evolution. It is a strategic opportunity. With EC360, banks can now:

• Elevate the customer experience
• Streamline onboarding and operations
• Significantly enhance risk management

It is a powerful step toward delivering the kind of consumer-class service that corporate clients increasingly expect, and that forward-thinking banks are ready to provide.

Turning adversity into industry impact

Looking back, our journey started with a painful mistake. But that mistake forced us to rethink how due diligence should work in a digital age. We transformed our own challenge into a solution for an entire industry.

There are a few core lessons I carry with me:

• Pain is a powerful catalyst for change
• Necessity fuels innovation
• Listening to real market needs is non-negotiable

I learned the hard way that financial crime is a very real threat. But I also learned that with the right mindset, and the right technology, those threats can be overcome. Today, Encompass is helping global financial institutions reduce risk, cut costs, and operate with confidence.