FullCircl launches SmartOnboard to redefine corporate onboarding and compliance efficiency

In a significant stride toward automating regulatory compliance and enhancing customer acquisition, FullCircl, a UK-based B2B SaaS company, has unveiled SmartOnboard, an innovative corporate onboarding solution designed for corporate entities. By integrating risk and compliance checks for companies and individuals into a streamlined process, FullCircl provides regulated businesses with a comprehensive compliance management platform that ensures swift, efficient onboarding tailored to the complexities of UK business regulations.

Streamlining compliance with SmartOnboard

SmartOnboard is an all-in-one corporate onboarding solution that simplifies the customer onboarding process while maintaining regulatory adherence. The platform combines Know Your Business (KYB) processes with a suite of checks, including Politically Exposed Persons (PEPs), sanctions, adverse media, Know Your Customer (KYC), email risk checks, and document verification. These features are delivered through an intuitive interface that guides users through every step of the customer onboarding process, ensuring a seamless experience for both businesses and clients.

The platform leverages an extensive range of data sources to provide enhanced compliance data for UK-registered companies and their directors. It also conducts robust individual identification checks and automates client communication through a white-labelled interface, offering businesses greater operational efficiency. By enabling real-time tracking of compliance checks and generating detailed audit trails, SmartOnboard empowers businesses to meet stringent regulatory demands while improving decision-making processes.

According to FullCircl, the new compliance management platform is designed not only to enhance compliance but also to reduce the manual effort involved in due diligence, giving businesses a competitive edge in customer lifecycle management.

Future expansions and FullCircl’s evolution

SmartOnboard represents the latest iteration of FullCircl’s technology, with plans to expand its capabilities to include international coverage, advanced customisation options, and broader data integrations. Immy Tugcu, VP of Product at FullCircl, highlighted the corporate onboarding solution’s transformative potential, stating that the launch fulfils a vision set in motion with the acquisition of W2 Global Data in 2023. Tugcu noted that the platform eliminates manual processes, enabling regulated businesses onboarding to stay compliant while delivering superior customer experiences.

Acquisition by nCino signals strategic growth

The announcement of SmartOnboard follows closely on the heels of nCino, Inc.’s (NASDAQ: NCNO) recent agreement to acquire FullCircl. nCino, a global provider of cloud banking solutions, plans to integrate FullCircl’s risk and compliance tools into its own platform. The partnership, initiated in 2023, has already demonstrated its potential by improving onboarding speed and compliance efficiency for financial institutions.

The acquisition aligns with nCino’s strategy to enhance customer lifecycle management while expanding its market presence. Both companies share mutual customers across the UK, including large financial institutions and niche players in the SME sector. The combined offerings are expected to drive growth and profitability for these institutions by streamlining regulated businesses onboarding and reducing regulatory friction.