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News and resources on financial crime, including fraud, scams, Anti Money Laundering and Know Your Customer.

Encompass named founding member of Data and Technology for Compliance Alliance

Source: Encompass

Encompass Corporation, the provider of the leading Know Your Customer (KYC) automation platform, has been named as a founding member of the Data and Technology for Compliance (DT4C) Alliance, formed to provide a leading voice in the fight against financial crime.

Dr Henry Balani, Global Head of Industry and Regulatory Affairs, will represent Encompass in the Alliance by advising on key technology policy relating to KYC, Anti-Money Laundering (AML) and other matters connected to the regulatory framework and financial crime.

Dr Balani is a veteran of the technology industry, with 30 years of experience in the sector. He specifically covers regulatory compliance issues and the role of technology in tackling financial crime, providing regular market thought leadership, as well as lecturing on the topics.

The Alliance has been formed to present a unified voice to strengthen the AML ecosystem and effectively manage and mitigate the risks facing banks and other Obliged Entities through technology, data and policy.

Founding members, comprising technology and data providers, will collaborate to share expertise to support the development and implementation of a future-proof AML framework, aiming to become a trusted policy partner that helps EU law makers to achieve their digital and green agendas.

Dr Henry Balani, Global Head of Industry and Regulatory Affairs for Encompass Corporation, said: “The coming together of leading industry voices to form the DT4C Alliance is an important step in the fight against financial crime, leveraging expertise from a variety of areas to inform key policy that will protect banks and Obliged Entities from financial crime.

“Encompass plays a vital role in this Alliance, acting as the leader for technology providers - a critical function with regards to KYC and AML processes. Financial crime can’t be effectively challenged without all key players - from banks to regulators and technology and data providers - working together to best form policy and activity.

“As part of the Alliance, I will strive to lead banks and financial institutions towards digital transformation journeys by promoting the adoption of automation technology to power compliance and operational efficiency.”

The DT4C Alliance is a coalition of members from Encompass Corporation, Dow Jones Risk & Compliance, Dun and Bradstreet, Moody’s Analytics, and RELX.

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