Evalueserve partners with Encompass to provide modular automation in KYC
Tackling financial crime is of paramount importance to financial institutions, and even more so in this current scenario. With this partnership, Evalueserve and Encompass are joining forces to support the financial services industry with safer and more efficient ways to perform KYC.
Evalueserve’s KYC offering, based on its proprietary mind+machineTM approach, allows for tailored solutions, dealing with issues such as false positives, to be deployed in weeks, with analytics from multiple data sources giving insight into client behaviour.
Automated KYC discovery from Encompass has been proven to reduce the time spent on KYC data gathering by up to 80%, allowing risk teams to focus valuable time on more complex tasks.
Anna Slodka-Turner, Evalueserve’s Global Head of Risk and Compliance said:
This demonstrated impact, together with Evalueserve’s unique and established approach to technology-enabled solutions, will prove invaluable.
Post-COVID-19, we expect to see further pressure for efficiencies and changes in work practices, with automation being critical to the process. In order to address these priorities, we have partnered with Encompass to design a modular KYC solution that can automate data gathering and also introduce micro-automation into the multitude of difficult manual hand-offs between disparate elements of the process, or across different products, business lines and geographies
Nick Ford, Encompass’ VP, Distribution & Alliances, stated:
We are delighted to partner with Evalueserve to serve financial clients in an efficient and impactful way. Never has effective KYC and client onboarding been as important.
Already, we have seen sophisticated crime syndicates take advantage of the global economic situation. Managed onboarding can help organisations navigate the new risk factors presented in unprecedented times.
Meanwhile, Ashutosh Gupta, Evalueserve’s Co-CEO and Global Business Unit Head of Financial Services, added:
We are excited to be partnering with Encompass, as they will help us offer a powerful and comprehensive KYC solution. Given this environment of uncertainty and disruption, this partnership couldn’t have come at a more fitting time for our current and prospective clients.
Evalueserve is a leading analytics partner that helps clients increase the effectiveness and efficiency of their core processes by applying its unique mind+machine™ methodology. For more than 25% of Fortune 1000 companies, mind+machine™ weaves human expertise with digital products and platforms to build analytics capabilities that enable successful business outcomes.
To find out more, visit evalueserve.com.
Encompass’ intelligent process automation conducts live document and data collection, analysis and integration from public and premium sources to bring transparency to complex corporate structures and ultimate beneficial ownership, delivering the most accurate and complete KYC on demand.