know your customer,
reduce risk. save time. lower costs.
effective KYC has never been so important.
transform your KYC process with RPA and AI.
With the full picture of a customer in minutes you can transform Financial Crime, KYC, and KYV compliance. Using intelligent process automation and artificial intelligence, Encompass gathers and analyses a wealth of information to dynamically build a visual picture of a company or individual in just minutes.
- quickly evaluate potential risks and opportunities with the visualisation of complex corporate structures, or an individual’s family and business network.
- dramatically improve ROI on your compliance spend by focusing highly-skilled analysts on complex KYC investigations.
- demonstrate compliance to regulators and auditors with accurate and complete KYC files and audit logs, automatically compiled and monitored.
how we help
Whether you need to reduce customer onboarding times or batch remediate your back book, automation from Encompass streamlines the process. From large corporates, through to SMEs and individuals, our intelligent automation ensures higher standards of due diligence at a significantly decreased cost.
sources
official registries; regulators; stock exchanges
what's the issue?
fragmented data; various methods of access; different data formats
the Encompass difference
a single point of access to your trusted sources; the broadest set of existing integrations; a unified data model
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sources
company data providers; corporate ownership registries
what's the issue?
manually building out corporate structures takes time and is prone to error; UBOs can be buried under several layers making them hard to identify
the Encompass difference
simultaneously interrogate multiple sources of company data; dynamically build out the most complex of structures in minutes; instantly discover ultimate beneficial ownership
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sources
sanction lists; official and law enforcement lists; politically exposed persons databases
what's the issue?
multiple data formats; lack of secondary identifiers; false positives cloud the real risks
the Encompass difference
seamlessly screen targets against all of the sources you rely on; a unified data format facilitates robust screening; integrate internal sources customer data to reduce false positives
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sources
news providers; internet search engines
what's the issue?
knowing where to stop; unmanageable volume of false positives; inconsistent analysis of results
the Encompass difference
RPA ensures consistency in adverse media searches; AI eliminates false positives; intelligent filtering focuses efforts on the real risks
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why?
customer’s PEP / sanctions status may change; adverse media may affect risk profile of a customer
what's the issue?
no fixed schedules for updates; falling behind leaves you open to regulatory and reputational risk
the Encompass difference
continuous monitoring of your trusted sources for material changes that require a KYC refresh; proactive alerts to changes that require your attention; accurate and up-to-date KYC profiles offer maximum protection from risk
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activity
download all source documents; save to KYC profile; record all actions and decisions
what's the issue?
time taken to access and retrieve documents; inconsistency in where documents are stored; incomplete records of actions/decisions
the Encompass difference
RPA retrieves and stores all source documentation in customer profiles; automatically record every action and decision taken during the KYC process; comprehensive and accurate audit trails ensure you are prepared for audits and always regulator-ready
request a consultationour latest insights
Four in 10 UK businesses abandon banking services applications due to ‘slow due diligence processes’
industry topic: financial services
Encompass research examines challenges faced when it comes to getting access to financial services.
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industry topic: financial services
Encompass research examines challenges faced when it comes to getting access to financial services.
read more
the global rise of regtech
industry topic: regtech
With 2020 being touted as the global year of regtech, we look at its rise.
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Regtech 20:20 podcast considers the future of digita...
industry topic: digital transformation
We discuss digital transformation in banks and KYC automation on our latest podcast.
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Four in 10 UK businesses abandon banking services ap...
industry topic: financial services
Encompass research examines challenges faced when it comes to getting access to financial services.
read more
in the spotlight – Alex Zervos, Business Devel...
industry topic: in the spotlight
We get to know our Business Development Manager, Alex Zervos, who joined our Sales team this year.
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how Encompass can help transaction monitoring soluti...
industry topic: transaction monitoring
A look at transaction monitoring and how Encompass can help in prioritising alerts.
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webinar recap: how automation can enhance your KYC p...
industry topic: regtech
We recap our webinar on how automation can enhance the KYC process, presented by Mike Kearney.
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Encompass reaction to Which? calls for all banks to ...
industry topic: AML
Comment from Wayne Johnson after Which? calls for banks to adopt further measures to combat fraud
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Encompass’ Wayne Johnson reacts as levy on fin...
industry topic: AML
CEO Wayne Johnson's take on measures announced to tackle money laundering as part of UK Budget.
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AML in 2020: the Encompass view
industry topic: AML in 2020
We give the Encompass view on what AML will look like in the year ahead.
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Encompass shortlisted in the RegTech Insight Awards ...
industry topic: company news
We have been shortlisted in the ‘Best Data Solution for KYC’ category of this year's awards.
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our impact
existing integrations to global data sources
jurisdictions covered
percent reduction in time taken to gather KYC information
customers around the globe