Speed up your onboarding process
Complex AML and KYC requirements mean that it takes an average of 32 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 lead to lost business.
Encompass research revealed 38% of UK businesses abandoned banking services applications in the last year due to slow financial due diligence processes.
We can help
Using intelligent process automation, Encompass conducts live document and data collection, analysis and integration from public and premium sources to bring transparency to complex corporate structures and ultimate beneficial ownership, for accurate and complete corporate CDD on demand.
Benefits of automating corporate CDD
Enhancing protection from regulatory risk
Encompass provides the full picture of a corporate customer, including ultimate beneficial ownership, PEP and sanctions risk and adverse media for improved risk assessment and mitigation.
Automating account opening and onboarding processes
We provide comprehensive digital KYC profiles that integrate with CLM and CRM systems and support digital account opening and onboarding processes.
Maximising the value of KYC data
By populating CLM and CRM systems with up-to-date KYC data, including detailed corporate ownership structures, Encompass allows organisations to use these insights to identify new business opportunities, grow accounts and win more business.
Why choose Encompass for managing corporate CDD processes?
Automate and streamline corporate CDD/EDD data gathering
Encompass automates document and data collection, analysis and integration from trusted sources for fast and effective CDD and EDD, based on your existing policies.
Quickly verify customer information and identity
Seamless access to global corporate registries and electronic identity verification allows Encompass to automatically verify information supplied by the customer.
Discover ultimate beneficial owners
Automatically discover UBOs to the thresholds dictated by your AML/CTF policies. Encompass performs UBO discovery in a matter of minutes, not hours.
Automatically screen for regulatory and reputational risk
Encompass seamlessly screens individuals and entities against your preferred suppliers of PEP, sanctions and adverse media data for a more complete view of risk.
Monitor for changes in customer risk profiles
Our platform continuously monitors customer KYC profiles, according to organisations’ risk-based approach, for material changes that trigger the need to update due diligence.
Dynamic creation of a full audit trail
Encompass builds a complete, real-time audit trail for every search and action taken on a corporate customer for demonstrable compliance.