From this report, it is clear that the FCA is taking real action across the board when it comes to tackling money laundering.

It is important to note the focus on Capital Markets. Given the reputation of London as a major financial centre, this is increasingly relevant and positive to see.

What is obvious is that the lack of transparency in regards to UBOs continues to be a major issue. The FCA mentions this as an area of concern and it is one where the services that Encompass offers can be particularly crucial.

The past decade has welcomed an era of rapidly evolving and innovative technology, launching the race for automation and use of Artificial Intelligence across verticals in order to streamline processes and ease tasks for its employees and customers. As society increasingly favours cashless transactions, financial institutions, in particular, are under pressure to digitise customer interactions. Nearly half of the British public used mobile banking in 2018, with customers valuing the speed and convenience when checking their bank balance and transferring money on the go.

Finantix, a leading supplier of transformational software to the wealth management, insurance and private banking industries globally, today announced that Finantix Components have been deployed by HSBC Private Banking as it launches a new global client wealth management portal for its clients. The new portal is a simplified, seamless and globally standardised platform.

 GoldGram Pte. Ltd., creator of the new digital asset-backed token GGC GoldGramCoin^®, and R3, the world’s leading developer of enterprise blockchain solutions for business, announced today that they have entered into a partnership program agreement to develop a native GGC GoldGramCoin token for R3’s Corda blockchain platform.

TreasurySpring, the London-based financial technology company today announced the launch of its Fixed-Term Fund (FTF) platform.

A Fixed-Term Fund is a completely new financial instrument, conceived, designed and built by TreasurySpring, to unlock the multi-trillion dollar wholesale money markets by providing new digital pipelines to connect cash-rich firms to institutional borrowers from the sovereign, bank and corporate sectors. 

Lightico, the pioneer of the next generation platform for digital customer interactions, today announced a $14.5 million investment by Mangrove Capital Partners, a venture capital firm whose portfolio includes major tech companies like Skype, WalkMe and Wix.

Insurance Nexus is delighted to announce we are bringing together key figures from OneBeacon, Canada Life and AITE Group to give you the strategies to understand your customers agenda and move towards a truly connected model. http://bit.ly/2LiQeJF

Path Solutions, the leading provider of Islamic software solutions and services, has won the title of ‘Best Islamic Technology Provider’ at The Asset Triple A Islamic Finance Awards 2019. The award puts emphasis on the company’s Sharia-compliant financial software suite and recognizes innovation and impact in advancing the Islamic financial services industry.

Baker Hill, a leading financial technology provider, delivering solutions for common loan origination, risk and relationship management, CECL, and smart data analytics, announced that Hawaii State FCU, Hawaii’s largest credit union lender, has chosen Baker Hill NextGen^® to support its rapid growth in commercial lending.

SunTec, the leader in revenue management and customer experience orchestration, announced the launch of Xelerate® Digital Core – an extremely low risk approach for banks to accelerate their Digital transformation journey, without having to replace their functionally stable legacy core systems.