Encompass Corporation, a leading corporate digital identity provider, has joined Financial Markets Standards Board (FMSB) as an Associate Member. The addition of Encompass widens the pool of expertise available to further develop FMSB’s work, via its Post-Trade Committee, to improve operational processes, since it was established to take forward the recommendations of the Bank of England’s Post-Trade Taskforce in terms of practical implementation.
Myles McGuinness, FMSB CEO said:
“We are pleased to welcome Encompass as an Associate Member of FMSB. Our Post-Trade Committee has been particularly active recently, developing practical ways to improve operational processes, with two Standards already published in Transparency Draft on Client Onboarding and the Sharing of Standardised Settlement Instructions. We look forward to drawing on the expertise at Encompass to inform this valuable, ongoing work.”
Henry Balani, Global Head of Industry & Regulatory Affairs at Encompass, said:
“We are delighted to be joining FMSB as an Associate Member. We look forward to working with FMSB Members from across the wholesale markets and to contributing to the excellent work of the Post-Trade Committee. As a provider of digital identification and verification to firms operating in the wholesale markets, helping to establish good practices in areas like client onboarding is of the utmost importance to us.”
Access FMSB’s publications, including the Post-Trade Committee’s Transparency Draft Standards on Client Onboarding and the Sharing of Standard Settlement Instructions (SSIs).
Notes to editors
About FMSB:
- Financial Markets Standards Board (FMSB) is an industry-led, member-funded global standards body for the wholesale financial markets.
- Created out of the Fair and Effective Markets Review (FEMR) in 2015, FMSB brings together its Members from banks, investment institutions, infrastructure and information providers, corporates, pension funds and interdealer brokers, to develop Standards, Statements of Good Practice and Spotlight Reviews that raise standards of behaviour, competence and awareness – to promote the fairness and effectiveness of global wholesale financial markets.
- As well as standard setting, subject matter experts from member firms debate issues in working groups and are able to benchmark their approaches against industry peers, thus helping to lift standards of conduct.
- FMSB’s full membership list is here
About Encompass:
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.
For more information:
Laura Conaghan
+44 (0)7929 72669
Laura.conaghan@fmsb.com