A survey of global Financial Institutions conducted by Thomson Reuters reveals inefficiencies and inconsistencies in Know Your Customer processes.
Thirty percent of institutions surveyed felt that they were hampered by the technology available to them as well as their inability to secure KYC-related budget.
This is having a direct and negative effect of the service they offer: forty percent of their corporate clients reported being asked to provide the same information by multiple people within the same institution.
A recent Thomson Reuters survey shone a spotlight on the KYC challenges experienced on a daily basis by multiple market participants. Read the white paper - Is the client lost in KYC client onboarding?
Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.
want to turn regulatory compliance
in to a competitive advantage?
Contact us today to arrange your personalised consultation of encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.