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An efficient KYC audit trail

Having a clear, accurate and consistent audit trail is a key component of entity identification and verification. 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 risk 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 CDI platform to create a digital audit trail:

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Satisfy regulators and auditors

We dynamically compile a complete and exportable digital audit trail for KYC processes, highlighting every keystroke; deletion, input, change by a user, as well as being time and date stamped to the second. This report is generated at the click of a button for all activities performed on the platform, saving a great deal of time and manual effort.

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Reduce regulatory and reputational risk

Our digital audit trail ensures you can demonstrate AML compliance with regulations and avoid reputational damage and valuable time spent resolving issues.

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Ensure consistent application of policies and procedures

Verify that employees are abiding by internal procedures. With Encompass, information can be continuously examined for improved confidence in how KYC processes are being carried out.

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