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COORPID AND BLACKSMITH KYC ARE NOW PART OF ENCOMPASS



Encompass Corporation, the global provider of real-time digital Know Your
Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to
develop a market-leading platform that solves the critical challenge of
identification and verification of corporate and institutional clients.

The deal will see Encompass acquire 100% of CoorpID and Blacksmith, creating a
platform that will transform the KYC process across the industry. ING will be a
stakeholder and development partner to Encompass.

The acquisitions mark a major milestone for Encompass, accelerating the
company’s vision to be the number one CDI platform globally, and achieving a
core part of its mission since inception in 2011. CDI, which is emerging as a
critical sector in the KYC ecosystem, will complement Client Lifecycle
Management (CLM) technology to enhance the overall customer journey.

In 2018, CoorpID was founded by ING Labs in response to complex KYC challenges
ING and the wider market faced. CoorpID allows global banks to automate outreach
and gather private KYC data directly from corporate banking customers, providing
a repository that allows the corporate to manage all their banking
relationships. For large multinationals, the platform makes it easy to store and
structure KYC company documents and enables sharing with banks and business
partners. CoorpID today services over 500 multinationals across Europe, helping
them to collate, manage and share relevant corporate data.

CoorpID enables Encompass to build a complete KYC profile, combining
authoritative public information with private information directly from
customers. This, for the first time, presents financial institutions with a full
Corporate Digital Identity (CDI) – providing a unified source of truth and
unrivalled visibility into risk.

It, crucially, enhances Encompass’ efforts to solve the key issue of customer
outreach for financial institutions. Through this complete customer profile, the
need for unnecessary outreach is eliminated. The result is a faster, slicker
experience without compromising on robust compliance.

This is complemented by another acquisition from ING, which sees Blacksmith KYC
also join Encompass.

Blacksmith was established in 2017, as part of ING Labs Singapore, with the aim
to enhance KYC processes for the financial industry. Blacksmith allows banks
like ING to configure their Customer Due Diligence (CDD) requirements within a
Digital Policy Manager. This ensures that the relevant data and evidence is
gathered and streamlines the collection process. Blacksmith has demonstrated up
to 50% efficiency savings and is broadly used across the entire ING Financial
Institutions client base, in addition to supporting wider external customers.

Connecting this unique capability will significantly enhance Encompass’
offering, making it much easier for banks to turn their manual KYC policies into
efficient automated processes to provide analysts with valuable risk insights
from the customer profiles and to better monitor Financial Economic Crime (FEC)
risk exposure.

ING sees Encompass as a strategic partner and has committed to using the
platform in the years ahead.

Wayne Johnson, co-founder and CEO, Encompass Corporation, said:

“Today is a momentous occasion for our business, and one I could not be prouder
to see.

“ING’s commitment to supporting and fuelling KYC excellence has led to the
successful journeys of CoorpID and Blacksmith KYC. The combination of
the technology and market expertise brought by these two businesses is the
perfect match for Encompass.

“CDI is the future of our industry, solving critical problems for the banks we
serve, and these acquisitions represent a huge step forward in bringing our
vision, which will transform KYC, to life. I could not be more excited as we
embark on this next phase and fully believe in what we collectively bring, with
much more on the horizon.”

Ivar Lammers, Global Head of Financial Crime Wholesale Banking at ING, said

“I am very proud of the sale of our KYC innovations that have reached the time
for the next chapter of their journeys.

“Encompass, CoorpID and Blacksmith have been established with the customer at
heart, which connects them and has been their recipe for success. Together they
will continue to provide a first-class customer experience, with smart, tailored
offerings that address the needs and challenges of our clients and industry, now
and in the future.

“I have no doubt Encompass is the ideal partner to take our foundations to the
next level.”

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THE BENEFITS OF CORPORATE DIGITAL IDENTITY

Encompass enables fast, accurate identity validation and verification of
corporate customers, and a gold standard approach to KYC. Our award-winning
corporate digital identity (CDI) platform incorporates real-time data and
documents from authoritative global public data sources and private customer
information to create and maintain digital risk profiles.

With Encompass, the world’s leading banks improve customer experience and
increase business opportunities through consistent regulatory compliance and
risk mitigation.

Learn more


KEY PEOPLE

WAYNE JOHNSON

CO-FOUNDER AND CEO

Wayne co-founded Encompass in Sydney, taking our product to market there in
2012. Since then, as CEO, he has led the international expansion of Encompass,
including launches in the UK in 2015 and Singapore in 2018, and driven
recognition as one of the UK’s most influential RegTech firms and KYC solution
providers.

Before Encompass, Wayne was co-founder and CEO of Software Associates, until the
company’s successful exit to a Hong Kong-listed company.

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ROGER CARSON

CO-FOUNDER & EXECUTIVE DIRECTOR

Roger co-founded Encompass and has brought the company’s vision to life,
expanding our reach and impact from Australia to the UK. His global outlook is
informed by a highly successful international sales career, with Andersen
Consulting then Unisys in the USA, South Africa, and Australia, as well as
leadership roles in Asia.

Prior to Encompass, Roger founded Pacific Advantage Services, raised Capital
from Europe for Asian distribution, and completed a trade sale to IM Invest.

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DISCOVER CORPORATE DIGITAL IDENTITY

Explore our corporate digital identity platform’s features and use cases for
creating real-time digital KYC profiles.

Find out more

Contact us

PRODUCT FEATURES

 * Encompass CDI platform
 * Global public and premium data
 * UBO verification
 * Real-time digital KYC profiles
 * API
 * Dynamic audit trail
 * PEP, sanctions and adverse media screening

SOLUTIONS

 * KYC onboarding
 * Corporate customer due diligence
 * Perpetual KYC
 * KYC remediation and refresh

ABOUT ENCOMPASS

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 * Resource hub
 * Contact
 * Media center
 * Careers

Join us on:
 * NORTH AMERICA +1 332-245-4398
 * EMEA +44 333-772-0002
 * APAC +61 300-362-667

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