Encompass partners Bisnode for Nordic push

Automated banking technology firm Encompass is partnering with data and analytics firm Bisnode in a deal which aims to expand its customer on boarding services to banks and financial institutions in the Nordic region.

Announcing the strategic partnership, Encompass Corporation, which uses artificial intelligence to automate Know Your Customer (KYC) solutions, said it would benefit from Bisnode’s comprehensive data coverage across its 130,000 customers in region, including the major Nordic banks.

The move comes as banks and other financial institutions in the region seek to strengthen their defenses by raising Anti-Money Laundering (AML) and KYC compliance standards across the whole industry in the light of a recent series of high-profile cases which highlighted lax regulatory controls at major Nordic banks.

Under the terms of the agreement, Bisnode will integrate its data and analytics into Encompass’ automation platform to enable regulated firms in the region to establish KYC best practice within the growing regulatory framework. It is hoped the tie-up will help banks to improve compliance and data standards.

Wayne Johnson, chief executive and co-founder at Encompass Corporation, said: “The regulatory environment in the Nordic region is under more scrutiny than ever before, and with this comes the need for tighter, more effective KYC controls.”

    Share Story:

Recent Stories


The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.