encompass and Nikkei Media Marketing partner to support firms with Know Your Customer requirements

encompass and Nikkei Media Marketing partner to support firms with Know Your Customer requirements
26.04.2018 09:28 am

encompass and Nikkei Media Marketing partner to support firms with Know Your Customer requirements

Data

encompass, the only provider of simultaneous, real-time access to multiple sources of global company and person data, today announced a new reseller partnership in Japan with Nikkei Media Marketing (Nikkei MM), strategic information partner to companies and organisations.

Regulatory activity in Japan is increasing following the introduction of the Act on Prevention of Criminal Proceeds in 2016, and in the run up to the Financial Action Task Force’s (FATF) planned Mutual Evaluation in 2019. Amongst other anti-money laundering (AML) measures, the Criminal Proceeds Act set out new standards for regulated firms for customer onboarding and monitoring, including Know Your Customer, Customer Due Diligence and Enhanced Due Diligence, following earlier criticism from FATF on the government’s approach to AML.

These enhanced requirements mean firms are spending increasing amounts of time and money on gathering the data required to perform KYC. As a manual process, information and news discovery for KYC can take several hours per case, but by robotically automating this process encompass reduces that to minutes.

“The increasing regulatory burden faced by Japan’s banks and other regulated firms is driving the need for innovative technology solutions to streamline the Know Your Customer process,” says Paul Charmatz, encompass Managing Director, “We’re delighted to partner with a company as well-known and respected as Nikkei Media Marketing to bring our innovative robotic process automation technology to the Japanese market”.

“In a more stringent regulatory environment we are seeing increased demand for solutions that can drive efficiency in compliance operations,” commented Nikkei Media Marketing CEO, Yutaka Omura, “For this reason, we are excited about the possibilities for the encompass technology in Japan, and to drive sales of the solution in the market”.

Related News

BMLL selects EOSE to Bolster Distribution of their Derived Data Product

EOSE, provider of outsourced market data solutions, today announced that the firm has entered into an agreement with BMLL Technologies, the data engineering and analytics firm... Read more »

SIX partners with Crux Informatics to deliver core datasets in a cloud-based platform

SIX, the Swiss financial data expert, announces its partnership with Crux Informatics to provide a state-of-the-art managed market data solution which removes... Read more »

Spectra Helps Customers Modernise IT Architectures with StorCycle Software 3.0 and Enhancements to its Data Storage Portfolio

Spectra Logic, a leader in data storage and data management solutions, today announced that StorCycle, its new Storage... Read more »

Beyond.pl Data Center 2 is re-certified for Rated 4 Standard

Beyond.pl (www.beyond.pl), a leading data center operator based in Poznan, Poland,  has successfully been recertified as Rated 4 according... Read more »

Alibaba Cloud and Multi-Lingual Support from the Global MediXchange of Combating Covid-19 (GMCC) programme

Over 440 medical institutions from 104 countries and regions have applied to learn and share experiences in battling COVID-19 through the ... Read more »

NeoXam and ICE partner to bring ICE pricing and reference data to clients

NeoXam, a leading provider of financial data management and transaction software solutions, announced it has integrated ICE Data Services’ pricing and reference data... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel