This month, digital consultancy firm Wavestone published its RegTech landscape white paper and included RegTech provider Encompass as a ‘favourite’ solution.
According to the RegTech Radar 2020, Encompass is the “archetype of a mature solution, making a process both more automatic and more intelligent.” It is also mentioned that Encompass has succeeded in finding a place between financial institutions and traditional data providers, “adding real value to regulatory processes in doing so.”
Elaborating further on the inclusion, Wavestone concluded that: “The Encompass solution has two advantages: the first being the strong simplification of the connection with external data providers, and the second being the creation of intelligent business rules…”
The report also features an updated RegTech radar and provides insights into key industry trends we are seeing and should be aware of for the months to come.
Wayne Johnson, CEO and co-founder, Encompass, comments: “We are thrilled to be named as a ‘favourite’ technology in the RegTech Radar 2020 report by Wavestone. This underlines the benefits and importance of our solution globally, which is only increasing.
In the banking world especially, there has been an increase in the use and recognition of online services in recent years, and there is an expectation for a more efficient and customer-friendly approach to client onboarding and compliance checks.
We believe that Encompass will continue to be a leader in this cross-industry push for digital transformation, due to our cutting edge and continually developing solution, which enables automated, smart decision-making, resulting in compliance with rapidly changing regulation and, crucially, increased customer satisfaction.”
Source: Encompass Press Release