EQ & Encompass team up to boost KYC customer offering

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Technology-led services and payments provider, EQ announced a partnership with Encompass today in a bid to strengthen its KYC proposition. The companies will collaborate to automate and use AI for analysing data that will boost their tech capabilities and services. According to EQ, the partnership will enhance the company’s access to third-party data sources through universal connectivity and also allow for compliance across jurisdictions.

Chris Adams, Head of Product at EQ Digital commented, “We are delighted to announce this partnership with Encompass, who have proven success in delivering greater automation and access to data to their partners within the KYC sector. We consider ourselves experts in handling KYC cases that can’t be automated, in cases of complex ownership structures and screening hits, for example. This partnership will help us in our wider market offering in delivering a truly comprehensive, efficient KYC product for our customers.”

The collaboration aims to cater to the challenges of KYC corporate onboarding, combining automated data and document discovery, workflow, and client outreach. It is expected to offer enhanced capabilities for robotic automation and data analysis, along with expanded API integration.

Nick Ford, VP, Distribution and Alliances at Encompass, commented, “At Encompass, we have developed strong partnerships with a number of industry-leading providers, and we are delighted to now count EQ as a valued partner. Together, EQ and Encompass solve many of the critical challenges of KYC corporate onboarding. Combining automated data and document discovery, workflow, and client outreach. Combined with EQ’s leading managed KYC service, this proposition evolutionizes very complex, costly processes.”

Recently, Equiniti Group announced that it is rebranding as EQ in a bid to standardise branding across its core business divisions.