FullCircl, the customer lifecycle intelligence (CLI) platform for regulated financial businesses, has snapped up W2 Global Data Solutions, a provider of real-time digital solutions for global regulatory compliance.
The deal serves to bolster FullCircl’s repertoire of compliance tools and propels its mission to dominate the intelligent customer onboarding solutions landscape across regulated industries.
W2’s expertise in identity verification, coupled with its global know your customer (KYC), anti-money laundering (AML), and anti-fraud services, aligns with FullCircl’s expansion strategy.
Under this agreement, W2 will now operate as ‘W2 by FullCircl’ with founder and CEO Warren Russell leading the business. Russell will also join FullCircl’s senior management team. FullCircl aims to retain the W2 team, recognising the value of its product, data partnerships, customers and talent.
Andrew Yates, CEO and co-founder at FullCircl, told The Fintech Times: “The acquisition of W2 rapidly accelerates our product roadmap by immediately giving us new capabilities and coverage.
“There’s a real need in the market for a true end-to-end onboarding solution, we now uniquely fill that gap as well as addressing previously unsolved industry problems such as accelerated onboarding of sole traders, small businesses and automating aspects of the digital lending journey which have proven to be tricky and time consuming for financial institutions”.
By joining forces, the combined entity expands its presence to 160 countries and diversifies its market appeal. This collaboration also creates opportunities to cater to various consumer-related finance sectors, including personal finance, gaming, gambling and cryptocurrency. With an additional 120 customers from W2, FullCircl’s clientele expands beyond 600, solidifying its market position.
Russell said it was clear that the two companies shared the same values and mission.
“We are absolutely delighted to join FullCircl and embark on the next ambitious chapter with our clients and partners,” he said. “Together we look forward to not only continuing our mission but amplifying it, as we leverage shared resources and expertise.”