Encompass Corporation, the globally recognised provider of the innovative dynamic Know Your Customer (KYC) process automation platform, has been honoured as a RegTech leader with its inclusion in the esteemed annual RegTech100 list for 2024.
The RegTech100 list, in its seventh successful year, distinguishes the world's most pioneering technology solution providers that provide products and services in various domains, including compliance, risk management, financial crime, and information security. This renowned list aids in spotlighting the crucial role of technology in transforming the landscape of regulatory compliance.
Encompass Corporation's platform provides dynamic KYC automation, providing substantial benefits to its patrons, including leading global banks. The platform enables the creation of complete real-time digital KYC profiles, granting a profound understanding of each customer. This aids in conducting KYC effectively and seamlessly in real-time, facilitating streamlined, efficient processes, enhanced customer experience, and meeting ever-changing compliance prerequisites.
This inclusion in the RegTech100 list rounds off a year of global industry accolades for Encompass Corporation. The firm also triumphed at Sibos 2023, winning in the Established Trendsetter category of the highly competitive Discover Perfect Pitch contest. Additionally, the innovative nature of their solution led to their recognition among industry leaders on Chartis Research’s RiskTech100 list.
Encompass Corporation CEO and Co-Founder, Wayne Johnson, shared his views on their recognition, “The evolving regulatory and economic landscape has underlined the critical need for banks and financial institutions to utilise modern technology solutions, especially KYC automation, to meet compliance obligations while enhancing efficiency and customer experience."
Johnson further elaborated on the future of banking and regulatory compliance, saying, "Banks continue to grapple with satisfying moving requirements, and establishing the identity of individuals in an effective, efficient manner. This means that real-time customer profiles, which enable streamlined onboarding processes, robust compliance, and smooth customer journeys, are now an essential requirement."
He described the recognition as fantastic, and highlighted Encompass's future plans, saying, "While it's great to be recognised globally within such a distinguished list, there is so much more on the horizon for Encompass. As we move into 2024, we are geared up to supercharge our offering and deliver truly transformative results for our customers."