Document and identity verification
Know the people behind your customer with seamless ID verification
Globalisation, combined with a thriving black market in stolen and fake identities, has increased the importance and complexity of identity verification (IDV). Without the right data and technology, IDV can slow down the Know Your Customer (KYC) and customer onboarding processes, leading to a poor customer experience and lost business.
Through existing integrations to a range of electronic identity verification providers, Encompass allows organisations to conduct robust IDV globally, as part of an automated KYC process.
Inhance compliance with consistent IDV processes
From traditional credit bureaux to new technologies such as biometrics, a range of providers now support global IDV requirements. However, knowing who to conduct IDV on, and the best source to use, isn’t always easy. This can result in inconsistent IDV processes that are difficult to demonstrate and audit.
Encompass uses intelligent automation to comprehensively identify the beneficial owners, directors and other relevant individuals within a corporate customer. Based on the results, tasks are automatically generated to alert KYC teams to the need for IDV, triggering the client outreach process. This can be done manually, or automatically if Encompass is integrated with a customer onboarding platform.
Relevant identity documentation can then be uploaded into the Encompass platform, and intelligent automation will complete the IDV process. Based on an organisation’s KYC policies, Encompass automates IDV using the most appropriate source for fast, accurate results.
Comprehensive IDV in a single platform
Existing integrations with a wide range of traditional and innovative identity solution providers allows Encompass customers to quickly and easily perform a range of IDV tasks in one single platform.
Encompass interfaces with global providers of document authentication services, seamlessly integrating these checks during the building of a KYC profile. The detail of the checks conducted against the document and related person differ by provider, however, this typically includes:
- the document is a recognised identity document from the jurisdiction it purports to be from
- the information is valid and consistent with the true identity of the individual – using the information gathered from the document’s Machine Readable Zone
- the information and elements of the document are correctly positioned and clearly visible
- the data held on the document image can be read correctly
Individual and non-incorporated business identity checks
Encompass allows automated analysis of global data sources such as credit bureaux and credit bureau aggregators, giving access to electoral roll information, national identity schemes, mobile network operators, and telephone/utility records.
Upload and compare accepted authenticated identification documents against self-portrait type images or videos for enhanced security and customer experience.
Improve KYC quality
intelligent automation ensures IDV is carried out consistently, using the most appropriate source for enhanced compliance
Gain full control of KYC
full automation creates a dynamic audit trail, demonstrating IDV activities, results and actions to facilitate audits and investigations
Reduce the cost of KYC
bringing IDV into a seamless, automated KYC process increases analyst throughput, reducing overall cost
Improve customer experience
increase flexibility in IDV options for a faster, frictionless onboarding experience
Discover what Encompass can do for you
Ready to learn more about Encompass‘ intelligent process automation platform for KYC?
Fill out the form to request your personalised consultation on how Encompass can help your business. You can also contact our team directly on +44 (0) 333-772-0002.