The power of information was brought home to Wayne Johnson some years ago when he and business partner Roger Carson were defrauded in a property investment.
Corporate documents can be dense and complex; important data can be buried deep in the document, and inter-company relationships hard to identify from scan reads of the data. And, in Australia, the data can be very expensive in the first place, hindering efforts to gain clarity on potentially risky business transactions and putting the nation at a disadvantage.
Johnson and Carson simply didn’t have all the information about the people they were dealing with available to them in a simple to digest fashion. If they had, there might not have been a problem.
The experience led them to find a business and develop software able to take complex relationships, a range of data from different sources and then map them in a visual form. For example the platform can take data from an ASIC report, identify a company’s directors, and then draw links between those directors and other data; for example, identifying which directors own which property.
Read the full article below:
Published on the 22/08/2016 | Written by Beverley Head Relocating to the UK has allowed Australia's Encompass and its clients to benefit from cheaper data... The power of information was brought home to Wayne Johnson some years ago when he and business partner Roger Carson were defrauded in a property investment.
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.
want to turn regulation compliance
in to a competitive advantage?
Contact us today to arrange your personalised consultation of encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.