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Unveiling the next era of corporate client verification

By Wayne Johnson | Tue 4 February, 2025
Corporate client verification

Transformation is no longer optional for corporate and institutional banking – it is imperative.

Banks face mounting pressure to modernize and optimize digital banking strategies. The imperative is clear: do more, with less. They must improve client experiences, enhance operational efficiency, and increase revenue. All while navigating a complex regulatory landscape.

Heightened client expectations and fast-evolving regulations are increasing pressure to maintain profitability and drive growth.

Why digital transformation in banking matters now

Digital transformation has become an essential strategic move to remain relevant and innovative. For banks, success hinges on how well they can manage the delicate balance between compliance, client satisfaction, and operational efficiency.

Banks are navigating a challenging landscape, often hindered by the fragmentation and inefficiencies of legacy systems. For C-suite executives, this can feel overwhelming, as the pressure to adapt and act decisively in the digital age grows. The frustration of balancing strategic goals with operational constraints is a shared experience. Furthermore, underscoring the need for clarity and streamlined solutions to drive meaningful progress.

In the face of these challenges, banks’ ability to deliver corporate client verification quickly and accurately is critical to success. With EC360, Encompass offers a ground-breaking platform that seamlessly integrates public and private data to empower banks with an unparalleled, 360-degree view of a corporate client. This holistic view is known as Corporate Digital Identity (CDI). EC360 is more than compliance; it drives efficiency, reduces friction and enhances client experiences.

The platform behind the transformation

EC360 is a Corporate Digital Identity (CDI) platform designed to streamline corporate client verification. Through innovative automation and data integration, EC360 enables banks to validate corporate client identities quickly and accurately, providing a real-time, holistic view of both public and private data.

How EC360 works:

EC360 is not just a platform; it is a blueprint for the future of banking. By delivering fast, flawless, and frictionless identity validation, EC360 empowers banks to overcome legacy bottlenecks and accelerate their transformation journey.

The benefits of EC360 for the C-Suite

For CEOs, COOs, and heads of digital transformation on a mission to deliver exceptional client experiences, EC360 offers a comprehensive solution that drives operational efficiencies and enhances compliance. The benefits are profound:

  • Regulatory compliance and risk mitigation: Stay compliant with global regulations while mitigating risks across jurisdictions.
  • Operational efficiency: Achieve significant cost savings by automating manual processes, reducing human error, and speeding up client onboarding.
  • Superior client experience: Deliver consumer-class service for corporate clients by streamlining interactions and reducing friction.
  • Scalability and agility: As your bank grows, EC360 scales to meet the demands of expanding markets, new product launches, or compliance with jurisdictional requirements.

EC360’s SaaS deployment model ensures seamless integration with existing systems such as Client Lifecycle Management (CLM), enabling rapid deployment and long-term ROI.

Versatility across the bank

Digital identity for individuals has already transformed retail banking and now CDI affords the same to corporate and investment banks. By providing the most comprehensive view of a corporate client, CDI can confidently be leveraged across the client lifecycle to streamline operations.

Whether in client onboarding, compliance checks, risk management, or strategic decision-making, EC360 provides a unified, real-time view of corporate client identities, enhancing efficiency and collaboration at every level of the organization. This cross-departmental functionality drives enhanced client experiences, better decision-making, and improved operational outcomes bank-wide.

EC360: designed for the future of corporate banking

As banking continues to evolve, so must the systems that support it. EC360 is designed to provide a unified, real-time view of corporate client identities. Empowering banks to optimize their KYC processes, enhance risk management, and meet compliance standards all the time while increasing efficiency. By integrating real-time global data and securely managing client interactions, EC360 helps banks stay competitive, resilient, and client centric.

Corporate client verification – a catalyst for growth

The technology and expertise needed to remove friction from KYC processes, enhance compliance, and improve client interactions now exists. By embracing digital transformation, banks can create new opportunities, enhance their reputations, and build a foundation for long-term success.

The time to act is now. Digital transformation is no longer a luxury but a strategic necessity for banks. EC360 is the solution that will help you lead the way in KYC and corporate digital identity, ensuring that your bank remains compliant, competitive, and customer centric.

Discover how EC360 can transform your approach to KYC, accelerate digital transformation, and empower growth. Let us shape the future of corporate banking together.

 
Author: Wayne Johnson

Wayne co-founded Encompass in Sydney and took the Encompass product to market there in 2012. Since then, as CEO he has led the international expansion of Encompass, including the launch in the UK in 2015 and Singapore in 2018, and recognition as one of the UK's most influential RegTech firms. Prior to Encompass, Wayne was co-founder and CEO of Software Associates, until the company's successful exit to a Hong Kong listed Company.

LinkedIn Profile | Wayne Johnson

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