Encompass Receives £2m Grant for AI Project

RegTech Encompass has been awarded a £2 million grant from Scottish Enterprise to develop an AI engine to accompany its KYC product offering. The funding, part of a £4.9, project, will help customers to accurately find risk relevant information about their organisations and investments, from a wide-ranging pool of data. “We have a long-standing relationship with Encompass, having supported the development of its initial KYC product. It’s great to see it now branching out into this new area of AI with its adverse news screening tool – for which there is a strong and immediate market demand,” says Scottish Enterprise.