Encompass blog
industry news
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...
why the banking industry must prove its worth during the COVID-19 crisis
The global COVID-19 crisis has triggered the most disruptive period to British society in peacetime history. The impact on the public and our healthcare system has been devastating, and our economy is facing the prospect of a recession much deeper and more painful...
Encompass’ Wayne Johnson welcomes UK government support pledge for innovative firms hit by Coronavirus
Encompass’ CEO and co-founder Wayne Johnson has welcomed the news that businesses driving innovation and development will be supported through the Coronavirus pandemic with a £1.25 billion package from the UK government. The purpose of the financial support is to...
why regtech is more important than ever as businesses adjust to new ways of working
As most businesses adjust to a new, largely remote, way of working, the benefits of regtech, both in terms of continuing to tackle financial crime and implementing efficient processes, are becoming increasingly evident.Criminals are taking advantage of the COVID-19...
Four in 10 UK businesses abandon banking services applications due to ‘slow due diligence processes’
38% of UK businesses have deliberately abandoned an application for banking services in the last year due to ‘slow due diligence processes’, according to new research from Encompass. The survey, which polled 200 business decision-makers in large and medium sized...
Encompass reaction to Which? calls for all banks to adopt anti-fraud measures
Consumer group Which? is calling on the government to force all banks to adopt new anti-fraud measures, after analysis uncovered that more than £1bn has been lost to bank transfer scams in three years.Which? analysed bank fraud statistics since 2017 and found the loss...