connections
our blog covering the latest news and industry trends from the financial and professional service sectors
OPBAS report shows improvement on paper but questions remain
Back in early 2019, the Office for Professional Body Anti-Money Laundering Supervision (OPBAS) issued its first report setting out supervisory findings of the 22 Professional Body Supervisors (the PBS). It made for uncomfortable reading and made it clear that there...
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...
in the spotlight: Eilidh Maclean-Morris, Project Manager
Working with a global roster of clients and on an evolving product, no two days are the same at Encompass. Someone who will attest to this is Eilidh Maclean-Morris, Project Manager.Coming from the public sector, Eilidh is used to working in a high-pressure, demanding...
waves of change: process automation delivers effective and efficient KYC
Since 2001, during the ‘first wave’ of Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) compliance, the approach taken by reporting entities is to assign the work of Know Your Customer (KYC) almost exclusively to human specialists. In the early 2000s,...
in the spotlight: James Watson, Business Development Manager
What does it take to work at a fast-growing company like Encompass? According to Business Development Manager James Watson, the scale-up nature of the business “means you need to be able to think on your feet.”With a background in financial services, James, who joined...
Invidem partners with Encompass and iMeta Technologies to make KYC data handling easier
With the goal of making the management of KYC data more efficient and effective, Know Your Customer (KYC) company Invidem, owned by leading Nordic banks, has signed long-term agreements with innovative IT solution providers Encompass and iMeta Technologies.Encompass...
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...
the global rise of regtech
2020 has been touted as the global year of regtech, with experts predicting investment will have increased by 500% by the end of it – rising from $10.6 billion in 2017 to more than $53 billion this year. With more reliance on regtech in financial services than ever before, we examine how it’s grown and earned its place in the wider industry in the UK and beyond.
Regtech 20:20 podcast considers the future of digital transformation
As solutions disrupt different parts of the regtech ecosystem, the digitisation of financial services has started to take place. With this trend gaining momentum, it is important to understand how regtech will change businesses now and in the future. Chris Skinner,...
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...