Blacksmith
Blacksmith is a B2B RegTech SaaS platform that digitises and automates KYC and Customer Due Diligence for banks and financial institutions via three integrated modules (Digital Policy Manager, DataHub, CDD File Generator) on a Microsoft Azure, API-first architecture. It is a wholly-owned subsidiary of Encompass Corporation following the January 2024 acquisition from ING.
- Company typePrivate
- Founded2017
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Blacksmith does
Blacksmith is a B2B RegTech SaaS platform that digitises and automates Know Your Customer (KYC) and Customer Due Diligence (CDD) processes for banks and other financial institutions. It was developed inside ING Labs Singapore in 2017 to address rising KYC costs, manual process risk, regulatory change friction, and lengthy CDD IT implementations. The platform is built on Microsoft Azure and is composed of three integrated modules: a Digital Policy Manager (a no-code business rules engine that encodes KYC policy), a DataHub (which aggregates external data from vendors such as Bankers Almanac, BVD, KYckr, and SWIFT, corporate registers, regulators, and internal sources), and a CDD File Generator (which produces standardised due diligence files as PDFs or via APIs). Blacksmith positions policy digitalisation as its core differentiator, with API-first architecture enabling real-time data exchange and integration into existing CLM and workflow systems such as Salesforce and ServiceNow.
The company operates a sales-led, enterprise SaaS model with annual subscription pricing on a quote basis, supported by a customer success team that handles configuration and implementation (advertised as 'plug-and-play' in days) and by SI partnerships with EY and Synechron. Its primary go-to-market targets enterprise banks (with ING as the founding flagship customer and SEB as a documented Nordic win) and addresses KYC personas including compliance officers, KYC operations, front-office/onboarding staff, and Heads of KYC. Headcount is reported in the 11–50 range, with offices in Singapore and Amsterdam and a registered UK presence via parent Encompass Corporation UK Limited in Glasgow.
In January 2024, Encompass Corporation acquired 100% of Blacksmith from ING (alongside CoorpID) to build a combined Corporate Digital Identity (CDI) platform that pairs authoritative public information with private customer data; ING retained a stakeholder and development-partner role and continues as a customer. Blacksmith now operates as a wholly-owned subsidiary of Encompass, serving financial institutions across six countries with no public revenue disclosure.
Blacksmith firmographics
Firmographics- Name
- Blacksmith
- Legal name
- Encompass Corporation UK Limited
- Website
- https://blacksmithkyc.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Blacksmith is a B2B RegTech SaaS platform that digitises and automates KYC and Customer Due Diligence for banks and financial institutions via three integrated modules (Digital Policy Manager, DataHub, CDD File Generator) on a Microsoft Azure, API-first architecture. It is a wholly-owned subsidiary of Encompass Corporation following the January 2024 acquisition from ING.
- Ownership category
- akta.pro rank
Blacksmith industry classification
Industry- Product category
- RegTech KYC Compliance Software
- akta.pro primary industry
- KYC/KYB & Customer Onboarding (CIP, beneficial ownership, screening) (FSAGAFAB)
- akta.pro secondary industry
- KYC/KYB, Identity Verification & Customer Due Diligence (FSAFAOAE)
Keywords
Where Blacksmith is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices3 records
Markets served
Blacksmith business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- SaaS/Software Platform Subscription: Blacksmith operates as a B2B SaaS platform providing KYC process automation software to financial institutions on a subscription basis.
- API Integration Services: Revenue generated through API connections enabling data exchange with external sources, internal systems, and workflow solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise subscription model with customized implementation |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Blacksmith product offering
Product offeringCore offering
Blacksmith provides a unified cloud-based KYC platform for financial institutions that digitalizes Know Your Customer policy through a no-code Digital Policy Manager, aggregates data from external sources via its DataHub module, and produces standardized Customer Due Diligence files via the CDD File Generator. The platform integrates with leading data aggregators (Bankers Almanac, BVD, KYckr, SWIFT) and customer CLM/workflow systems through API-first architecture to automate and audit KYC processes end to end.
Product overview
Blacksmith KYC is a unified RegTech platform built around three integrated modules that work together to transform the KYC (Know Your Customer) process. The core of the platform is the Digital Policy Manager, which digitalizes KYC policies and applies them throughout the Customer Due Diligence process. The DataHub module collects and processes data from external sources (data vendors, corporate registers, regulators, internal sources) based on the configured policy. The CDD File Generator creates customized, standardized due diligence files driven by the organization's unique policy settings. These three modules form an end-to-end solution: configure policy rules, automatically collect relevant data, and generate audit-ready CDD documentation.
Differentiator
Problem solved
Functional benefit
Brands
- Digital Policy Manager: Core product module - an easily configurable business rules engine that digitalises KYC policy and applies this throughout the CDD process.
- DataHub
- CDD File Generator
Products and services
- Blacksmith KYC Platform Unified cloud-based KYC platform for financial institutions that digitalizes KYC policy, automatically applies policy rules throughout the Customer Due Diligence process, collects relevant data from external and internal sources, and generates standardized CDD files. Targets enterprise banks and wholesale financial institutions.
- Digital Policy Manager A configurable no-code business rules engine that digitalizes KYC policy and applies it throughout the Customer Due Diligence process, enabling configuration of information requirements, risk indicators, tolerance levels, and complex business logic. For compliance officers and Heads of KYC in financial institutions.
- DataHub Data collection and processing module that aggregates relevant data from data vendors (Bankers Almanac, BVD, KYckr, SWIFT), corporate registers, regulators, and internal sources based on the organization's KYC policy. For KYC operations teams performing CDD research.
- CDD File Generator Creates customized and standardized Customer Due Diligence files containing data, insights, and evidence driven by the organization's unique KYC policy settings; outputs as PDF or imports directly into downstream workflow systems via APIs. For KYC operations and compliance teams producing audit-ready CDD documentation.
Quantifiable outcome
- 50% savings in end-to-end KYC process
- +5 more outcomes
Companies that use Blacksmith
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles1 record
Blacksmith technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Blacksmith partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, flagship and minor.
- Encompass CorporationcoreEncompass Corporation acquired Blacksmith KYC from ING in January 2024 to develop a market-leading Corporate Digital Identity platform. The acquisition creates a platform combining public information with private customer data for financial institutions.
- INGflagshipING developed Blacksmith at ING Labs Singapore in 2017 and was the flagship customer. After selling to Encompass in January 2024, ING became a stakeholder and development partner committed to using the platform.
- EY (Ernst & Young)minorSystem integrator partner providing implementation services for Blacksmith KYC platform deployments.
- SynechronminorSystem integrator partner providing consulting and implementation services for Blacksmith KYC platform deployments.
Scale indicators5 records
Recent moves4 records
Expansion highlights5 records
Blacksmith competitors and assessment
Company assessmentDirect peers
- Fenergo: Fenergo provides a client lifecycle management (CLM) and KYC platform purpose-built for global financial institutions, covering onboarding, regulatory compliance, and client due diligence — the same core use cases and customer base as Blacksmith, with a more comprehensive suite.
- Trulioo: Trulioo is a global identity verification and business verification platform serving banks, fintechs, and regulated enterprises, with overlapping KYC, AML, and beneficial ownership screening capabilities.
- Hummingbird RegTech: Hummingbird RegTech is a RegTech platform focused on financial services firms' compliance, KYC, and AML workflows, directly competing with Blacksmith on policy-driven KYC and CDD automation for banks.
- Onfido: Onfido provides AI-driven digital identity verification and KYC/AML onboarding for financial services, directly comparable to Blacksmith in the customer onboarding and CDD space.
Broad incumbents
- NICE Actimize: NICE Actimize is a large-scale financial crime and compliance platform offering KYC, AML, transaction monitoring, and fraud detection to global banks, providing broader competition to Blacksmith's KYC-focused offering.
- Wolters Kluwer (OneSumX for KYC): Wolters Kluwer's OneSumX suite provides regulatory compliance, risk, and KYC solutions to banks and financial institutions, offering broader regulatory coverage than Blacksmith's focused KYC engine.
- Encompass Corporation: Encompass is Blacksmith's parent company and operates a broader Corporate Digital Identity (CDI) platform that combines public and private KYC data. It is the natural upstream bundling counterpart of Blacksmith and competes against standalone KYC offerings.
- Pegasystems (Pega CLM/KYC): Pega provides a low-code client lifecycle management and KYC platform used by global banks, competing with Blacksmith on automated onboarding, due diligence, and compliance workflows.
- Moody's (KYC Solutions): Moody's KYC Solutions (built in part on Bureau van Dijk data) delivers customer onboarding, entity resolution, and regulatory screening for financial institutions, overlapping with Blacksmith's CDD and data aggregation capabilities.
Others
- Refinitiv (LSEG) / World-Check: LSEG/Refinitiv provides World-Check KYC data and screening services to financial institutions, serving as both a complementary data source and a competing end-to-end KYC solution to Blacksmith.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Blacksmith social profiles
Digital presenceBlacksmith financial estimates
Financial estimateRevenue estimate
Valuation estimate
Blacksmith leadership team
Management profileNumber of profiles
Profiles4 records
Blacksmith funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Blacksmith M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Blacksmith
What does Blacksmith do?
Blacksmith provides a unified cloud-based KYC platform for financial institutions that digitalizes Know Your Customer policy through a no-code Digital Policy Manager, aggregates data from external sources via its DataHub module, and produces standardized Customer Due Diligence files via the CDD File Generator. The platform integrates with leading data aggregators (Bankers Almanac, BVD, KYckr, SWIFT) and customer CLM/workflow systems through API-first architecture to automate and audit KYC processes end to end.
Is Blacksmith a public or private company?
Blacksmith is a private company. It is classified as corporate owned and is currently operating.
When was Blacksmith founded?
Blacksmith was founded in 2017. It employs 11 to 50 people.
Where is Blacksmith based?
Blacksmith is headquartered in Singapore, Singapore, in the Asia region.
How does Blacksmith make money?
Two revenue lines are on record. SaaS/Software Platform Subscription is the primary driver. The others are API Integration Services.
Who are Blacksmith's main competitors?
Direct peers on record are Fenergo, Trulioo, Hummingbird RegTech and Onfido. Broad incumbents are NICE Actimize, Wolters Kluwer (OneSumX for KYC), Encompass Corporation, Pegasystems (Pega CLM/KYC) and Moody's (KYC Solutions). Refinitiv (LSEG) / World-Check is listed as an others.
Does Blacksmith have an API?
Yes. Blacksmith's API enables financial institutions to connect to external data sources (governmental bodies, company registries, data vendors, credit ranking companies), transfer data between internal systems, inject data into documents/workflow systems/reports, and exchange data between partners. The API supports connecting to third-party data sources to prefill Customer Due Diligence (CDD) files based on the organization's own policy rules. CDD files can be downloaded as PDF or imported directly into workflow systems via APIs.
What industry is Blacksmith in?
Blacksmith's product category is RegTech KYC Compliance Software. Its primary akta.pro industry code is FSAGAFAB, KYC/KYB & Customer Onboarding (CIP, beneficial ownership, screening), with a secondary code of FSAFAOAE, KYC/KYB, Identity Verification & Customer Due Diligence.