Santander requirements

The current onboarding process required a great deal of discovery groundwork around corporate structures and ownership, with information coming from several different databases and lists before being collated by the onboarding team. The Digital Transformation team wanted to streamline this process by using automation.

Encompass solution

Santander engaged Encompass to provide a more efficient way of onboarding clients. Having one platform with all of the information gathered during the corporate discovery stage and throughout further Customer Due Diligence (CDD) investigation has armed Santander with the information they need to make the right decisions, faster.

about Santander

Santander is a multinational commercial bank and financial services company. The bank’s Corporate and Commercial Banking arm works for medium to large businesses looking for a relationship managed service or requiring more comprehensive banking, international or larger lending needs.

Find out more at santander.com.

About Encompass

A full and accurate picture of beneficial ownership is the foundation of effective KYC.

Manually building this picture from a plethora of documents and third party data sources, however, is a long, expensive and error-prone process.

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.

The full picture of a customer significantly enhances the effectiveness and efficiency of subsequent KYC activities including screening and IDV - both of which can be carried out seamlessly in the Encompass platform if required.

All information on a customer, along with supporting documents, is dynamically compiled into a comprehensive, digital KYC profile that Encompass can also monitor for ongoing regulatory risk.

Discover what Encompass can do for you

Ready to learn more about Encompass' intelligent process automation platform for KYC?

Fill out the form to request your personalised consultation on how Encompass can help your business. You can also contact our team directly on +44 (0) 333-772-0002.