Having a clear, accurate and consistent audit trail is a key component of your AML programme. It proves to regulators that all your AML and KYC processes have been followed consistently. Nowadays, the importance of a digital audit trail, especially when it comes to avoiding sanctions, can’t be underestimated.
Trying to maintain an AML audit trail manually is extremely time consuming and open to error. Encompass uses intelligent process automation to perform KYC process steps, dynamically compiling a full, time-stamped digital audit trail for demonstrable compliance.
Being able to clearly demonstrate your AML compliance to regulators is hugely important. Here are the benefits of using our digital audit trail KYC software: