Encompass shoulders the heavy lifting in corporate KYC
Our clients are realizing significant benefits by automating manual Know Your Customer (KYC) processes.
The Encompass dynamic KYC process automation platform simplifies complex and time-consuming KYC tasks and delivers complete real-time digital KYC profiles. Flexible delivery options and strategic partnerships make it easy for financial institutions to integrate Encompass into their tech stack and workflow to harness the power of KYC process automation today.
Speak to our team or scroll down to learn more about the benefits of KYC process automation.
Deliver revenue faster
With the average onboarding process for a new corporate client taking up to 100 days transformation is key.
Manual KYC processes severely impact the speed of customer onboarding, slowing up the sales process and causing internal friction. In proof of value exercises with major global financial institutions, our solution has been proven to improve onboarding times by 80%. By transforming KYC to a digital process with dynamic KYC process automation clients can create competitive advantage with a better customer onboarding experience.
of the KYC search procedure
Improve customer experience
By providing customers with access to the broadest set of global public and premium data sources via Encompass, we allow you to retrieve more documents directly from the source. Internal friction between teams is reduced by decreasing outreach and customer experience is significantly improved.
Drive operational efficiency
Unwrapping corporate ownership structures to identify UBOs to the level required by today’s global AML regulations is beyond the scope of manual processes.
By automating this complex activity organizations get a more complete picture of their corporate customers. Encompass has been proven to unwrap 10x more UBOs and entities, and returns many more source documents that are stored within a digital KYC profile.
Remove bottlenecks in KYC refresh and remediation and manage resources effectively by streamlining KYC processes that can easily scale as your business grows.
Elevate compliance teams
Encompass elevates the role of analysts by automating 100% of the KYC search procedure. Eliminating the time-consuming task of sourcing, retrieval and collation of data and documents, and manually rekeying data from multiple sources.
By compiling complete, real-time digital KYC profiles, Encompass frees up analysts to focus on more complex, and rewarding, activities.
Demonstrate consistent compliance
It is impossible to ensure consistent policy adherence and maintain a complete and accurate audit trail with manual KYC processes.
Encompass dynamically compiles a full and downloadable audit trail, showing every search, result and action taken in a regulator ready format, providing demonstrable AML compliance. Available as part of a digital KYC profile along with source documents and full data attribute lineage.
Simplify systems landscape
Building and maintaining connections to a large number of data sources via CLMs and CRMs is beyond the resources of most organizations. Encompass provides access to limitless KYC data products via a single platform. Encompass enhances ROI on existing technology with a streamlined KYC process and seamless integration of Encompass into existing workflows and systems via the Encompass API.
“80% of the effort in onboarding is removed instantly thanks to Encompass. We’ve seen lots of efficiencies across the process and all of that creates a more elegant and speedier customer process.”
Head of Digital Transformation, Santander