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.
A-Team Insight Briefs
Encompass Receives £2m Grant for AI Project
Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking
Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...
SIX Fintech Ventures, the corporate venture arm of Swiss exchange operator and data vendor SIX, has co-led an $8 million Series A funding round for Coinfirm, which operates a blockchain-based AML Platform for crypto assets designed to protect against ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions. As part of the...
Now in its 6th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
A-Team Group’s ESG Handbook 2021 is a ‘must read’ for all capital markets participants, data vendors and solutions providers involved in Environmental, Social and Governance (ESG) investing and product development. It includes extensive coverage of all elements of ESG, from an initial definition and why ESG is important, to existing and emerging regulations, data challenges...