Insolvency practice, Griffins, selects encompass verify

26 July 2017

Griffins, one of the largest independent insolvency practices in the UK, has selected encompass verify to support them in their Know Your Customer (KYC) compliance.  

Griffins, which has offices in London as well as Dubai, specialise in providing insolvency, litigation and forensic services maximising return to creditors through asset recovery.   They have a broad range of clients including foreign governments, corporations and law enforcement agencies.  

Prior to selecting verify, Griffins previously used encompass’ investigative software.

Listed by Planet Compliance as one of the most influential RegTech firms, encompass supports compliance with international Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations by empowering their front line staff to meet the evolving regulatory requirements of the latest MLR 2017 update.  

Danny Lee from Griffins said: “Utilising leading RegTech software is fast becoming essential for complying with regulatory requirements.  Not only does automation significantly speed up the onboarding process, it frees up the valuable time of our compliance professionals and assists in developing a systemic risk governance approach to decision making. As a company, we are committed to using the best and latest technology, and signing up for encompass verify supports us in that.”

Paul Charmatz, Managing Director from encompass said “We are constantly adding new data providers to our platform ensuring we remain at the forefront of RegTech technology.   We’re the only platform that can access all data providers via API and aggregate them into a single view for compliance professionals.  We look forward to supporting Griffins’ compliance team as they roll out the use of verify.”

A leading RegTech company, encompass corporation develops technology to automate Know Your Customer (KYC) policies and ensure adherence to Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) regulations in financial, legal and accounting businesses.

With encompass’ market leading technology, KYC checks and onboarding processes can be completed more than 10 times faster and with far lower costs and error rates than manual processes through the use of web based technology, providing a full audit trail and removing the risk of human oversight.

Founded in Australia in 2012, encompass launched in the UK in 2015 and now employs more than 50 staff, including more than 30 staff in the UK. It uses real time data from 12 information providers including Experian, C6i, BvD, Thomson Reuters World-Check and Companies House. encompass serves more than 200 firms who rely on its products to automate and manage AML/CTF risk and compliance while enabling growth through informed and timely business decisions.

Griffins are one of the largest independent insolvency practices in the UK who have been providing insolvency, litigation and forensic services for the past 30 years. Griffins have grown steadily during that time, expanding in London and Kent and adding offices in the UAE. Griffins have built a long history of establishing legal insolvency precedents and are highly proactive in the pursuit of asset recovery, maximising returns to creditors. 

Griffins clients include private individuals, corporations, law enforcement agencies, foreign governments, other professional clients and the legal profession. They work closely with a number of the industry’s regulators in cases where office holders licenses have been revoked, and regularly act for government and commercial clients where our specialist knowledge and skills are effectively deployed.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development