Encompass Corporation

Background

Encompass Corporation, established in 2011, specializes in delivering automated Know Your Customer (KYC) solutions tailored for the banking, finance, legal, and accountancy sectors. The company's mission is to transform KYC processes by integrating real-time data and documents from authoritative global public data sources and private customer information, thereby creating and maintaining digital risk profiles. This approach aims to enhance compliance, mitigate risk, and improve client onboarding experiences.

Key Strategic Focus

Encompass Corporation's strategic focus centers on automating KYC processes to expedite client onboarding and ensure adherence to Anti-Money Laundering (AML) regulations. The company's core objectives include:

Automation of KYC Processes: Streamlining client onboarding by automating data collection and verification.

Integration with Trusted Data Sources: Collaborating with reputable data providers to ensure accurate and comprehensive client information.

Regulatory Compliance: Assisting clients in meeting stringent AML and Counter-Terrorism Financing (CTF) requirements.

Global Expansion: Extending services to international markets to support global clients effectively.

Financials and Funding

Encompass Corporation has secured a total funding of approximately $39.8 million over multiple rounds. Notably, in March 2022, the company raised $33 million to support its expansion initiatives and product development efforts.

Technological Platform and Innovation

Encompass Corporation's technological platform is distinguished by:

EC360 Platform: Launched in February 2025, EC360 is designed to transform corporate client verification processes in the banking sector.

Real-Time Data Integration: The platform aggregates data from multiple authoritative sources, ensuring up-to-date and accurate client information.

Automation and Visual Analytics: Utilizing automation and visual analytics to streamline KYC processes and reduce manual errors.

Leadership Team

Wayne Johnson: Co-founder and CEO, leading the company's international expansion and strategic direction. Prior to Encompass, he co-founded Software Associates, which was successfully exited to a Hong Kong-listed company.

Alex Ford: President, North America, overseeing the company's expansion into the North American market. She has held various executive roles within Encompass since joining in 2012.

Andrew Dunn: Chief Technology Officer, appointed in June 2024, bringing extensive experience in product and business transformation from previous roles at Arachnys and OpenCorporates.

Stuart Barnard: Chief Financial Officer, promoted in April 2024, previously serving as VP of Finance and Business Operations.

Leadership Changes

Recent significant leadership appointments include:

Alex Ford: Appointed as Chief Revenue Officer in August 2024, in addition to her role as President, North America.

Andrew Dunn: Joined as Chief Technology Officer in June 2024.

Stuart Barnard: Promoted to Chief Financial Officer in April 2024.

Competitor Profile

Market Insights and Dynamics

The KYC automation market is experiencing significant growth, driven by increasing regulatory requirements and the need for efficient client onboarding processes. Financial institutions are investing in technologies that enhance compliance and operational efficiency.

Competitor Analysis

Key competitors in the KYC automation space include:

Alloy: Provides identity verification and risk decisioning solutions for financial institutions.

Acuant: Offers identity verification and compliance solutions, focusing on document authentication and biometric verification.

Signicat: Specializes in digital identity solutions, including electronic signing and authentication services.

NorthRow: Delivers compliance solutions for client onboarding and monitoring, emphasizing real-time data analysis.

PassFort: Provides compliance automation solutions, focusing on customer due diligence and risk assessment.

Strategic Collaborations and Partnerships

Encompass Corporation has established strategic partnerships with global data, technology, and consulting firms to enhance its platform's capabilities and integration. Notable partnerships include collaborations with Accenture, Capgemini, EY, and Pegasystems, enabling seamless integration of Encompass into existing workflows and systems.

Operational Insights

Encompass Corporation differentiates itself through:

Comprehensive Data Integration: Aggregating data from multiple authoritative sources to provide a holistic view of clients.

Automation and Efficiency: Reducing manual processes and associated errors through automation.

Regulatory Compliance: Ensuring clients meet evolving AML and CTF regulations effectively.

Strategic Opportunities and Future Directions

Encompass Corporation's strategic roadmap includes:

Product Enhancement: Continuously improving the EC360 platform to address emerging client needs and regulatory changes.

Market Expansion: Strengthening presence in North America and exploring opportunities in other international markets.

Technological Innovation: Investing in advanced technologies such as artificial intelligence and machine learning to further enhance KYC processes.