Encompass blog
industry news
The role of RegTech in dealing with fraudulent applications for Bounce Back Loan Scheme
The COVID-19 pandemic is still having a devastating impact on businesses and the economy in the UK, and access to funds, loans and financial schemes remains a top priority for business. In many cases, this kind of support is what has helped businesses to stay afloat...
Who is to blame for 18 years of undiagnosed financial crime after FinCEN Files leak?
On 20 September, it was globally publicised that FinCEN Files had been leaked to BuzzFeed News. Said files exposed some of the world’s largest banks, suggesting that they had been aware of cases of money laundering, corruption and fraudulent activity, contained in up...
Scottish Technology Ecosystem Review can help sector grow and deliver, says FinTech Scotland Chief Executive
The time is now when it comes to building on the progress made within Scotland’s technology sector, according to FinTech Scotland Chief Executive Stephen Ingledew.It has been in the spotlight since the publication of the Scottish Technology Ecosystem Review, carried...
Nearly three-quarters of businesses are more likely to join a bank with a fully digital onboarding process
Almost three-quarters (73%) of businesses are more likely to select a bank that could perform all relevant regulatory checks digitally, according to official research from Encompass.The data, which was obtained via a survey of 200 senior business decision-makers in...
Why the UK Finance Mortgage Lenders’ Handbook is causing confusion for law firms
The digitalisation of key services in business has been expansive, to say the least. Every year there is a new emerging trend, a new ‘hot word’ or key term, and a new promise from technology vendors that these trends will change the way processes are run. And for the...
41% of businesses plan to scrap banking provider due to slow support during COVID-19
Four in 10 businesses are planning to change their banking provider due to the slow support that has been offered during the COVID-19 outbreak.This is according to official research commissioned by Encompass, the Know You Customer (KYC) RegTech software provider,...
Technology is key as COVID-19 places ‘unprecedented challenges’ on banks
Banks must look to technology now in order to manage the wide-ranging ramifications of the Coronavirus pandemic, according to Encompass’ CEO and co-founder, Wayne Johnson.His comments come after the European Banking Authority (EBA) released a report detailing the...