An efficient KYC audit trail
Having a clear, accurate and consistent audit trail is a key component of KYC due diligence. It proves to regulators that all your KYC processes have been followed in full and consistently. Nowadays, the importance of a digital audit trail, especially when it comes to avoiding sanctions breaches, can’t be underestimated.
Trying to maintain an audit trail manually is extremely time consuming and open to error. Encompass uses dynamic KYC process automation to automate the KYC process, and compile a full, time-stamped digital audit trail of every action taken for demonstrable compliance. Available within a complete digital KYC profile along with source documents and full data attribute lineage.
Key benefits of our dynamic digital audit trail
Being able to clearly demonstrate AML compliance to regulators is hugely important. Here are the benefits of using our dynamic KYC process automation platform to create a digital audit trail: