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FullCircl acquires W2 Global Data Solutions

Tuesday 22 August 2023 14:09 CET | News

UK-based Customer Lifecycle Intelligence platform FullCircl has announced the acquisition of W2 Global Data Solutions. 

The acquisition’s objective is to improve the company’s compliance suite and smart customer onboarding solutions for regulated businesses. W2’s datasets, expertise in identity verification, and anti-fraud services represent a growth opportunity for FullCirl’s medium-term strategy. Through this gain, further enhancements to the suite of applications and APIs will be enabled, as well as a set of end-to-end solutions for companies pursuing to embed insight on clients via acquisition, onboarding, and ongoing monitoring.  

UK-based Customer Lifecycle Intelligence platform FullCircl has announced the acquisition of W2 Global Data Solutions.

More information about the acquisition

The merged company can provide coverage on entities located in 160 countries, provide improved market appeal, and additional opportunities to target consumer-related finance segments, including personal finance, gaming, gambling, and cryptocurrency. W2 provides 120 customers to FullCircl’s 600 customer base and, under the terms of the agreement, the company will trade as W2 by FullCirl.

The acquisition will have no effect on W2’s management and team, and existing customers of both companies will not see an impact on their relationship. However, they will be able to benefit from the combined platform and the acceleration of capabilities. According to officials, the acquisition will help regulated businesses mitigate risks and receive onboarding services that meet compliance requirements. 

APIs’ importance to businesses

Through the use of APIs, companies can improve operational efficiency, as well as simplify the development of new products. As per IBM’s report, APIs allows integration so platforms and application can easily connect with each other, therefore enabling companies to automate workflows and improve connectivity.

Moreover, APIs increase the level of security and privacy, offering layers of protection between platforms, as they usually require authentication credentials. Personal users also benefit from a higher level of safety, as the majority of web browsers and mobile operating systems include built-in permission structures when APIs require access to the application’s data. 

FullCircl’s past developments

FullCircl provides solutions to financially regulated businesses, including building and maintaining customer profiles, automating AML, KYC, UBO, and credit checks as part of the onboarding process.

Recently, the British Insurance Brokers’ Association (BIBA) launched a new member facility with FullCircl, to provide insurance brokers with comprehensive company information and insight for enterprises in the UK and Ireland. 

At the beginning of August 2023, FullCircl made its Customer Lifecycle Intelligence APIs available for financial institutions on Google Cloud Marketplace, helping companies in interacting with company information and business intelligence.

Back in July 2023, the company partnered with ComplyAdvantage to facilitate AML and KYC screening. Through this collaboration, companies will have access to AML and compliance solutions, while monitoring their workforce and reducing false positive results by 70%.

Source: Link


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Keywords: API, acquisition, digital onboarding, risk management
Categories: Fraud & Financial Crime
Companies: FullCircl, W2
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

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FullCircl

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W2

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