Automating due diligence processes
Gaining the full picture of a respondent institution’s business, including beneficial ownership and any adverse media, is critical in the global fight against financial crime, as well as for reducing regulatory risk.
Automating the due diligence process in the banking industry
Identify and verify beneficial ownership
Using intelligent process automation, Encompass provides KYC on demand from global public and premium data sources. The Encompass platform dynamically unwraps corporate ownership structures to identify and verify the beneficial ownership and control of a respondent institution, as well as flagging any PEPs or sanctioned entities, using a bank’s choice of reliable and independent sources. The full picture provided by Encompass forms a solid foundation for subsequent due diligence activities.
Seamlessly screen for regulatory risk and adverse media
Encompass’ automated KYC solution seamlessly screens relevant individuals and entities against a bank’s favoured screening and adverse providers. This quickly uncovers any adverse media, such as any regulatory actions, that may trigger enhanced due diligence.
Ongoing monitoring of the respondent institution
Our software monitors target entities and individuals for changes to PEP and sanctions status, against a bank’s choice of provider, for ongoing protection from regulatory risk.
Efficient and cost-effective KYC remediation
Encompass can support periodical reviews and KYC refresh on respondent institutions via a simple batch loading functionality.