Encompass Corporation has launched a fully automated AML and CTF solution for the financial services sector.

The software platform enables financial professionals to meet the increasingly demanding regulatory requirements of the European Union’s Fourth Anti-Money Laundering Directive, which must be implemented by 26 June 2017.

The 4th AML Directive includes fundamental changes to the existing procedures, which will impact legal professionals.   Changes to Customer Due Diligence (CDD), the requirement for a central register for beneficial owners, a focus on risk assessments, and the new rules for politically exposed persons (PEPs) within the UK, all present a challenge for financial professionals who struggle to tailor legacy systems or keep up with manual process.

Wayne Johnson, CEO from Encompass said: “The European Union Fourth Anti-Money Laundering Directive adds both an extra layer of complexity, and requirement for greater clarity of process and auditing including maintaining accurate and current information on beneficial ownership.  It’s something a lot of businesses are struggling to prepare for. By automating the process, professionals can reduce the risks of failure to comply and also vastly improve efficiency, both at the point of need and, crucially, as and when the information needs to be updated or interrogated in the future.”

Read the full story on Bobsguide:

Encompass Corporation launches automated Anti-Money Laundering system

A fully automated Know Your Customer (KYC) solution for achieving superior Anti-Money Laundering (AML) and Counter Terrorism Finance (CTF) compliance has been launched by Encompass Corporation.

about encompass

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.

By continuing to use the site, you agree to the use of cookies. more information

our website and use of cookies

Your personal information will not be collected if you are only browsing one of our websites but we do use cookies to better tailor our information and our services to meet your needs.

A cookie is a small piece of text that is placed within the memory of a computer and can be later retrieved by web page servers. Cookies are used to enhance your interaction and convenience in using our website and we do not use cookies to record any of your personal information. Cookies may record information about your visit, including the type of browser and operating system you use, the previous site you visited, your server's IP address, the pages you access and the information downloaded by you.

While this anonymous statistical data may be aggregated and used in broader statistical analysis by us and our web monitoring service provider to improve our services, we cannot personally identify you as the source of that data until such point as you provide your personal information to us.

Close