# encompass and Nikkei Media Marketing partner to support firms with Know Your Customer requirements
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-04-26
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Encompass partners with Nikkei MM to streamline AML compliance in Japan
Meta Description: Encompass partners with Nikkei MM to introduce robotic process automation technology to streamline KYC process in Japan's increasing regulatory
URL: https://financedigest.com/encompass-and-nikkei-media-marketing-partner-to-support-firms-with-know-your-customer-requirementshtml

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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](https://www.financedigest.com/netflixs-gaming-foray-will-cost-time-and-money-wall-st.html "Netflix’s gaming foray will cost time and money – Wall St") 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](https://www.financedigest.com/the-implantable-biomaterials-market-to-move-ahead-on-rpa-robotic-process-automation.html "The Implantable Biomaterials Market to move ahead on RPA (Robotic Process Automation)") 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](https://www.financedigest.com/crispy-innovation-to-drive-the-nano-healthcare-technology-for-medical-equipment-market.html "Crispy Innovation To Drive The Nano Healthcare Technology For Medical Equipment Market") 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](https://www.financedigest.com/baby-food-industry-will-turn-to-drive-sales-growth-of-functional-dairy-ingredient-market-fact-mr-report.html "Baby Food Industry Will Turn To Drive Sales Growth Of Functional Dairy Ingredient Market, Fact.MR Report") of the solution in the market”.


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