how we help
corporate and investment banking
As a result of the COVID-19 pandemic, digital transformation initiatives have risen to the top of the agenda for many global financial institutions, and they realise they must accelerate these in order to meet expectations and succeed.
Encompass automates due diligence for KYC requirements for onboarding, ongoing PEP & sanctions monitoring and remediation for improved regulatory compliance.
Using intelligent process automation (IPA), Encompass collects, analyses and integrates data and documents from public and premium sources globally on demand.
By bringing transparency to complex corporate structures and identifying ultimate beneficial ownership, Encompass delivers accurate and comprehensive KYC due diligence on demand.
learn how Encompass benefits your business
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 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 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 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
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.