Complying with AML and (CTF) legislation is a challenge, and many regulated firms turn to Managed Services Providers (MSPs) for help. MSPs that align their services with the digital transformation initiatives underway at regulated firms are well placed to deliver true value and optimum risk protection for customers.
Encompass’ automated KYC platform has established a reputation with leading MSPs for having the innovation and the reliability to accelerate productivity and service improvements while promoting operational flexibility.
Looking to enhance your digital onboarding offering? Take a look at the key benefits of digitising your KYC managed services.
Manual KYC is an inefficient use of skilled resources and leads to low productivity. Encompass uses intelligent process automation to eliminate repetitive manual activities, enabling teams to refocus KYC analysts on exception management.
The pace of digital transformation at regulated firms requires changes to the way MSPs work. By partnering with Encompass, MSPs can leverage advanced technology that integrates easily with customers’ CLM and onboarding platforms, to provide more effective KYC services.
Security of data is top of mind for regulated firms and Encompass provides strong controls for all documents collected in the KYC process, securely storing all information and creating a comprehensive, real-time audit trail. A complete record of actions and access to data throughout the KYC process greatly reduces exposure to operational risk for MSPs.