how we help
corporate and investment banking
Global corporate and investment banks are experiencing a perfect storm.
Cost-cutting exercises come at a time when regulatory pressure and customer expectations are at an all time high.
As a major cost centre, Know Your Customer (KYC) is a key area of focus for savings, but this cannot come at the expense of customer experience or meeting regulatory obligations.
KYC automation from Encompass addresses this challenge. We offer multifaceted support for your global organisation.
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KYC operations and customer onboarding
KYC operations and customer onboarding
- the data required to unwrap complex corporate structures cannot be accessed
- adverse media screening generates an unmanageable volume of false positives
- internal Service Level Agreements for customer onboarding times are not being met
- deadlines for urgent and large-scale KYC remediation projects are being missed
automated KYC discovery from Encompass
Using an innovative blend of intelligent process automation, artificial intelligence and business logic, Encompass automates KYC discovery, reducing costs while improving quality and slashing customer onboarding times.
We use a bank’s established data sources, policies and procedures, and integrate with existing KYC or customer onboarding platforms. We can be deployed immediately and offer a seamless transition from manual to automated processes.
Our results speak for themselves. In a side-by-side proof of value exercise run with a leading Australian bank, Encompass completed the KYC discovery process on average eight times faster than a senior KYC analyst using the bank’s existing process.
Click the table to enlarge.
compliance
- a lack of skilled KYC analysts means departments are under-resourced
- high analyst turnover rates have sent training costs spiralling
- aggressive deadlines for bulk KYC remediation are being missed
- KYC is often performed face-to-face making it impossible to demonstrate compliance
automated KYC discovery from Encompass
By utilising the latest in intelligent process automation and artificial intelligence, alongside our demonstrated expertise, Encompass automates KYC discovery, reducing reducing costs while enhancing compliance with global AML and anti-bribery and corruption regulation.
Intelligent process automation from Encompass ensures policies are consistently followed, and every search, action and decision is dynamically recorded in a comprehensive audit trail for demonstrable compliance.
Our results speak for themselves. In a side-by-side proof of value exercise run with a leading Australian bank, Encompass’ automated KYC discovery process identified more complete ownership and control information than a senior KYC analyst following the bank’s existing manual process – over eight times faster.
Click the table to enlarge.
compliance
- a lack of skilled KYC analysts means departments are under-resourced
- high analyst turnover rates have sent training costs spiralling
- aggressive deadlines for bulk KYC remediation are being missed
- KYC is often performed face-to-face making it impossible to demonstrate compliance
automated KYC discovery from Encompass
By utilising the latest in intelligent process automation and artificial intelligence, alongside our demonstrated expertise, Encompass automates KYC discovery, reducing reducing costs while enhancing compliance with global AML and anti-bribery and corruption regulation.
Intelligent process automation from Encompass ensures policies are consistently followed, and every search, action and decision is dynamically recorded in a comprehensive audit trail for demonstrable compliance.
Our results speak for themselves. In a side-by-side proof of value exercise run with a leading Australian bank, Encompass’ automated KYC discovery process identified more complete ownership and control information than a senior KYC analyst following the bank’s existing manual process – over eight times faster.
Click the table to enlarge.
change management
change management
A fast, customer-friendly onboarding experience enables growth and increased customer profitability. However, in most cases costly investments in Customer Lifecycle Management (CLM) solutions have not delivered the expected return due to:
- long, complex deployment delaying implementation schedules
- the challenges of integrating all required data sources for robust KYC
automated KYC discovery from Encompass
Encompass automates KYC discovery across a bank’s complete set of trusted KYC data sources, and in line with existing policies and procedures.
Our flexible deployment options cater to a bank’s specific needs. The Encompass user interface offers immediate, out-of-the-box deployment, allowing banks to automate costly and time-consuming KYC processes prior to a full CLM rollout. Post-rollout, our API integrates quickly and easily to fully automate the KYC process entirely within the CLM environment.
Our results speak for themselves. In a proof of value exercise with a leading Australian bank, our automated KYC discovery process consistently unwrapped global corporate structures to the same level, or more comprehensively, than the bank’s existing process, and six times faster. This included uncovering a previously undiscovered corporate structure in the Cayman Islands.
Click the table to enlarge.
relationship management
- onboarding times do not meet customer expectations resulting in lost business
- a poor initial onboarding experience directly impacts customer profitability
- KYC quality is inconsistent due to a lack of understanding and resources
automated KYC discovery from Encompass
By utilising the latest in intelligent process automation and artificial intelligence, alongside our demonstrated expertise, Encompass automates KYC discovery, reducing reducing costs while enhancing compliance with global AML and anti-bribery and corruption regulation.
Intelligent process automation from Encompass ensures policies are consistently followed, and every search, action and decision is dynamically recorded in a comprehensive audit trail for demonstrable compliance.
Our results speak for themselves. In a side-by-side proof of value exercise run with a leading Australian bank, Encompass’ automated KYC discovery process identified more complete ownership and control information than a senior KYC analyst following the bank’s existing manual process – over eight times faster.
Click the table to enlarge.
relationship management
- onboarding times do not meet customer expectations resulting in lost business
- a poor initial onboarding experience directly impacts customer profitability
- KYC quality is inconsistent due to a lack of understanding and resources
faster onboarding decisions from Encompass
Using a blend of intelligent process automation, artificial intelligence and business logic, Encompass automates KYC discovery to ultimately drive down costs while also improving KYC quality and slashing customer onboarding times.
We use a bank’s established trusted sources, policies and procedures, and integrate with existing KYC or customer onboarding platforms. We can be deployed immediately and ensure a seamless transition from manual to automated processes.
Our results speak for themselves. In a side-by-side proof of value exercise run with a leading Australian bank Encompass completed the KYC discovery process on average eight times faster than the bank’s existing process.
Click the table to enlarge.
related content
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KYC process steps: what you can automate and where you still need humans
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discover what Encompass can do for you
Ready to learn how Encompass can accelerate your client onboarding and compliance checks?
Fill out the form to request your personalised consultation on how Encompass can help your business.
Alternatively you can contact our team directly on +44 (0) 333-772-0002.