encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it has been selected by APPx Group Holdings, Inc. (“APPx”) (CSE:APPX), a Canada-based Fintech incubator and leader in diversified Blockchain 2.0 development, to support and enhance its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) processes in line with regulatory requirements.
The APPx founding and executive team has extensive experience of working in regulated sectors and understood the need to confront regulatory compliance head-on while building the company, given the risks in the Fintech space.
APPx has a network of partners and clients whose customers need to be onboarded in line with current AML/CTF regulations. encompass automates this process, reducing friction to ensure a good customer experience and faster onboarding times.
Jay Ruckenstein, President & Co-Founder at APPx, said: “We have worked closely with Canadian regulators since founding the company and are keen to take a leading role in defining AML best practice for the Fintech sector. By raising standards across the board, the whole industry benefits from a good reputation, which encourages adoption and integration within the mainstream financial system. The encompass team has been amazing. They understood what we were trying to achieve when others didn’t.”
Ed Lloyd, Executive Vice President, Global Sales & Marketing, at encompass corporation, said: “APPx is a visionary in the Fintech space and we are delighted to support their goal of developing AML/CTF standards and processes that address the significant financial crime risks facing this sector, while also ensuring high levels of customer satisfaction.”