Using perpetual KYC to streamline onboarding and maintain compliance

Maintaining an accurate view of a customer and understanding your current risk exposure is essential to safeguard against financial crime. Organisations face a huge challenge monitoring for changes and investigating alerts from a wide range of channels, from internal systems to transaction monitoring and sanctions screening, whilst performing regular KYC reviews. This calls for perpetual KYC; automated ongoing monitoring and due diligence for KYC.

Encompass streamlines customer onboarding, event-driven KYC and KYC refresh due diligence to minimise risk and maintain AML compliance. Our perpetual KYC solution automates manual processes and KYC data collation and builds a dynamic digital KYC profile, complete with audit trail, providing the digital baseline to easily review and assess risk when needed.

Benefits of perpetual KYC (pKYC)

1

Futureproof KYC due diligence needs

Encompass automates the manual KYC data collation process with intelligent process automation, through a single platform. Our software creates a digital KYC profile of the most current data and documents available, ready to review when future due diligence is needed.

2

Minimise risk exposure and maintain ongoing compliance

Automation reduces the manual workload for KYC analysts enabling more regular KYC refresh due diligence and simpler KYC remediation activities. Perpetual KYC reduces the time lag between KYC reviews and potential risk exposure of undetected and uninvestigated changes.

3

Increase efficiency

Deploying Encompass across the entire lifecycle reduces the need to outsource work and removes unnecessary duplicated KYC due diligence. Lower risks can be processed quickly and a prioritised investigation workflow provided for KYC analysts.

Why choose Encompass for pKYC and continuous compliance?

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Reduce risks with perpetual KYC due diligence automation

Follow the same process for all your due diligence investigations and consistently apply controls, every time with our perpetual KYC solution. Encompass automates your manual KYC analyst process, reducing manual input and repeat work.

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Scalable to support future growth and KYC remediation needs

Retrieve and integrate data from your chosen global public and premium providers when needed with a single integration to Encompass.

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Improve customer experience

With a single view of the customer and unrivalled KYC data connections, Encompass provides more accurate due diligence and reduces outreach across the client lifecycle. This speeds up onboarding and subsequent KYC due diligence.

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Dynamic creation of a full audit trail

Encompass provides a comprehensive audit trail of every action taken for demonstrable compliance across the client lifecycle, including pKYC activity.

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