CASE STUDY SIX:

Encompass Corporation:

Tackling financial crime from our Glasgow HQ

The UK has long been seen as possessing institutions that promote and enforce the rule of law, with established judiciary, law enforcement and legal representation. Indeed, the UK regulatory landscape is seen as ‘one of the most admired in the world,’ with continued focus on stepping up financial crime enforcement. 

 Scottish-based technology firms like Encompass Corporation are leading globally in fighting financial crime, supported by leading academic institutions, including the University of Strathclyde, researching the impact of Artificial Intelligence, Data Analytics and Machine Learning. Scottish universities have developed ‘incubators’ to grow promising new financial technology organisations, teaching these cutting-edge technologies to students eager to develop their skills and develop viable commercial solutions that benefit the financial services industry. 

Collaboration between regulators, academia and industry is a key step forward in the fight against financial crime. While we have seen similar initiatives elsewhere, the Scottish ecosystem is uniquely placed to ensure demonstrable success, given the close and established relationships that are in place today. Scotland provides historical precedence, stemming from the Industrial Revolution and prior in introducing technologies that have reshaped industry. There is no doubt talent and innovation in Scotland will continue to positively impact this ongoing fight.

Dr Henry Balani
Global Head of Industry
and Regulatory Affairs
Encompass Corporation