Speed up your onboarding process with digital CDI/KYC profiles
Complex AML and KYC requirements mean it can take up to 120 days to onboard a corporate customer. Much of this time is spent on the critical customer due diligence (CDD) needed to unwrap complex, often global, corporate ownership structures. Slow onboarding processes impact time to revenue and customer relationships.
Navigating complex regulatory landscapes
Traditional approaches to customer due diligence (CDD) present numerous challenges that hinder efficiency and regulatory compliance for financial institutions:
Manual data collation and high costs: Labor-intensive manual processes lead to errors and incur significant cost.
Time-consuming customer onboarding: KYC can take 90-120 days per client, resulting in frustration, and client abandonment.
Regulatory updates and lack of standardization: Changing regulations and inconsistent data collection and data analysis methods increase compliance burdens and risk exposure.
Human resource inefficiency: Valuable resources are wasted on repetitive tasks, impacting productivity and engagement.
We can help
Encompass revolutionizes customer due diligence with tailored solutions that address these challenges:
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Benefits of corporate CDD automation
Transforming KYC
Explore our case studies to see how Encompass’ CDI platform has transformed KYC for clients globally. Learn how we’ve significantly enhanced operational efficiency, accelerated onboarding times and improved client experience.
Discover more use cases for our platform
- KYC onboarding
- Enhanced due diligence
- KYC remediation and refresh
- Perpetual KYC
Ready to transform your CDD processes?
Unlock unparalleled efficiency, comprehensive risk monitoring and seamless compliance with Encompass through customer due diligence process automation. Join the ranks of leading banks that have automated KYC processes and improved their customer onboarding experience.
Contact us today and experience firsthand how Encompass can optimize your CDD processes.