FullCircl reinforces compliance suite with W2 Global Data Solutions acquisition
UK-based customer lifecycle intelligence (CLI) platform FullCircl has strengthened its compliance suite with the acquisition of W2 Global Data Solutions for an undisclosed sum.
Founded in 2011 and situated in Cardiff, Wales, W2 provides know your customer (KYC), anti-money laundering (AML), document verification, know your business (KYB) and financial risk solutions.
FullCircl describes the acquisition of the company as a “natural complement” to its medium-term growth strategy and anticipates that it will enable “further enhancements” to its applications and APIs.
The deal will see 120 of W2’s customers added to FullCircl’s 600-strong customer base “with no overlap”, with the combined company now set to serve entities in 160 markets worldwide.
W2 will now trade as ‘W2 by FullCircl’, with Warren Russell, founder and CEO of W2, set to continue leading the business. FullCircl says it will also “seek to retain the W2 team” post acquisition.
Russell says the deal is “the culmination of 12 years’ work” building new technology to “simplify complex regulatory requirements in customer onboarding”. Russell will also join the senior management team at FullCircl.
Andrew Yates, CEO at FullCircl, says the completed acquisition is “great news” for the customers of both companies, who according to Yates, “will benefit from enhancements that will transform their compliance and risk management processes”.