Spring Data Rest @EmbeddedId converters registration

I have spring data rest project with EmbeddedId that I have created a converter for. My configuration is in XML and I have registered the converter like this:

<bean id="conversionService"
 class="org.springframework.context.support.ConversionServiceFactoryBean">
    <property name="converters">
        <set>
            <bean class="example.MyCustomConverter"/>
       </set>
    </property>
</bean>

For some reason I am still get the no converter found error, not sure what I am missing here.