Automated KYC processes for faster results

Speeding up the onboarding process to reduce time to market for new merchants is a key differentiator for Payment Service Providers. Encompass automates KYC due diligence to streamline merchant onboarding, helping you win more business while enhancing AML regulatory compliance. Learn about KYC solutions for Payment Service Providers.

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Why Payment Service Providers choose Encompass to support their KYC and AML needs

We’re trusted by Payment Service Providers to empower their KYC approach with intelligent process automation and deliver the following benefits.

1

Onboard merchants more quickly

In a crowded and competitive market, a fast and frictionless merchant onboarding experience is key for Payment Service Providers to win more business. However, a reliance on manual KYC processes means that gathering the critical information needed to onboard a merchant can be time-consuming.

Encompass automatically collects, analyses and integrates KYC data and documents from public and premium global data sources up to 98% faster than manual processes.

2

Ensure consistent compliance with AML/KYC regulations

Regulatory compliance obligations are constantly evolving for the payments sector, in line with the fast growth of digital payments. Demonstrating a consistent approach to AML compliance is critical for payment service providers, but today’s manual KYC processes are impossible to accurately document and audit.

Encompass automates manual KYC processes, to ensure a consistent, repeatable and demonstrable approach to AML regulatory obligations across your entire customer base. All searches, results and actions taken are recorded in a dynamic and regulatory-ready audit trail.

3

Automate fast and effective data aggregation to power CLMs and CRMs

Encompass provides KYC data aggregation from a single API, empowering CLMs and CRMs with critical information. Leverage our existing integrations to the widest range of global public and premium data sources for KYC purposes.

Our automated KYC solution has access to a wealth of trusted global data sources, across over 200 jurisdictions. We work with you to mirror your existing KYC process and can integrate additional data sources as required.

98% faster

Encompass automatically collects, analyses and integrates KYC data and documents from public and premium global data sources up to 98% faster than manual processes.

About Encompass

Since the launch of Encompass in 2012, we’ve been helping Payment Service Providers fight financial crime and streamline their KYC processes to comply with AML regulations and requirements.

Find out more about what makes us the No.1 platform for automating corporate KYC due diligence

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Encompass’ KYC software features, use cases and benefits for Payment Service Providers

If you’d like to know more about the transformative impacts Encompass could bring to your organisation, explore our range of end-to-end KYC management features, powered by automation.

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