Encompass Corporation, the leader in Corporate Digital Identity (CDI), has been named ‘One to Watch’ by Chartis Research as part of this year’s Financial Crime and Compliance 50 (FCC50), recognising its game-changing innovation that supercharges robust regulatory compliance and drives business growth.

The FCC50 charts the top risk technology providers at the forefront of the fight against financial crime. Being among the ‘Ones to Watch’ called out within the latest list highlights the uniqueness of Encompass’ mission.

It also underlines the power of its delivery of real-time Know Your Customer (KYC) profiles, which present banks and financial institutions with a full CDI. This, for the first time, provides a unified source of truth and unrivalled visibility into risk.

FCC50 analysts studied over 300 organisations operating across KYC Due Diligence, Adverse Media Tracking, Transaction Monitoring and Trade-Based Money Laundering (TBML), evaluating the innovation, strategic direction, functionality, core technology, market presence and customer success of each company to track the present and the future of the financial crime and compliance sphere.

Nick Vitchev, Research Director at Chartis said: “Encompass is making considerable waves in the financial crime marketplace thanks to its unique way of solving the most challenging aspects of KYC. 

Its innovative approach to Corporate Digital Identity is also highly relevant in today’s market, making it definitely one to watch.”

Encompass caught the attention of Chartis by identifying significant market gaps and working to address them with a focused, clear solution – CDI. Noting the strengths of the distinctive, data-driven outcomes Encompass makes possible for banks, analysts commended its understanding of the current market challenges and potential future value.

Encompass’ platform combines authoritative public information with private information directly from customers, creating a complete customer profile and eliminating unnecessary outreach. This improves customer experience whilst maintaining the highest standards of regulatory compliance.

Wayne Johnson (pictured above), CEO and Co-Founder of Encompass Corporation, commented: “Banks are increasingly battling with an evolving regulatory landscape, outdated manual processes, legacy technology infrastructure, and a turbulent economy. This combination and the resulting pressures, only underline the critical need for digital transformation.

We know that a particularly complex challenge being faced across the financial services industry lies in the identification and verification of corporate and institutional clients. This is why we have placed great emphasis on enhancing what we offer to deliver a truly beneficial solution with CDI.”

He added: “CDI can revolutionise a bank’s approach to KYC, specifically when it comes to customer onboarding, as well as the ability to detect financial crime. It provides deeper, faster insights than ever before – and with greater accuracy – bringing widespread benefits to banks and customers, which, ultimately, maximise competitiveness and profitability. 

We are delighted to be recognised by Chartis as an exciting industry player bringing solutions that are making a real difference, and that the immense value CDI holds for financial institutions has been highlighted.”