Advanced imaging algorithms allow users to authenticate an official identity document and conduct biometric checks against a “selfie” of the person being onboarded, in addition to conducting bureau checks for further validation. Bureau searches are carried out globally, using a customer’s preferred sources.
The capability enables encompass customers to conduct IDV and risk screening for PEPs (Politically Exposed Persons), Sanctions and Adverse Media in one automated process, against all required sources, in just minutes.
The integration of this additional feature is the latest step in encompass’ mission to provide its customers with all the tools they need for quick, comprehensive KYC in a single solution so that the process can be carried out in-house rather than being outsourced.
Firms can use the encompass automation platform across their entire client base, whether their clients are large corporates, SMEs, sole traders or individuals. By integrating a wide range of biometric and electronic IDV providers into a seamless experience, encompass provides customers with the freedom to use the most appropriate providers in each of the jurisdictions in which they operate, improving straight through processing rates and the customer experience.
At encompass, our goal is to transform our customers’ KYC processes through Intelligent Process Automation and AI, and the integration of biometric identify verification into our platform is testament to our commitment to delivering cutting-edge technological solutions. Against the backdrop of an ever increasing and evolving regulatory environment, our ability to adapt our platform to incorporate technologies as and when they become available means our customers can “future proof” their compliance processes.
Graeme Port is a product management professional with over 15 years’ experience in the compliance and credit risk industries. He has particular expertise in the underlying data supporting the business critical decisions made by both the credit and compliance risk functions within financial services firms.
Before joining encompass in early 2016, Graeme’s career spanned multiple roles at information giant Equifax, from sales and credit risk to product management and, latterly, representing Equifax at the Business Information Providers Association.
Founded in 2012 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.
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.