KYC remediation made simple

Increasing regulation, inconsistent onboarding practices and heightened regulatory scrutiny are creating a glut of work for regulated firms in the form of Know Your Customer (KYC) remediation.

With high volumes of customer KYC files that no longer meet the standards of their policies, firms are exposed to significant risk until remediation is completed. Through automation, encompass remediate eliminates today’s resource-intensive and time-consuming manual approach to KYC remediation.

avoid risks associated with outdated KYC

Regulators expect your KYC data to be fit for purpose and updated in line with your global KYC policies. Robotically automate remediation of your entire back book with encompass remediate to avoid significant fines and penalties.

slash the costs of KYC remediation

Outsourcing remediation projects or employing teams of analysts to manually review and refresh KYC files is costly and unscalable. By implementing encompass remediate, you can cut costs by up to 60% and focus skilled analysts on more complex investigations.

maintain high levels of customer satisfaction

Avoid unnecessary disruptions in customer transactions and relationships due to delays in remediation. encompass remediate streamlines information gathering and keeps your business operating safely and compliantly.

capabilities

quick and easy bulk uploads of your entire client backbook of KYC files

encompass remediate guides you through a simple process to upload all customer KYC data, wherever it resides.

 

flexibility to remediate KYC files based on all your global policies

encompass remediate allows you to select the relevant policy for different customer segments, in line with your risk-based approach.

 

intuitive dashboard keeps you fully informed at all times

encompass remediate tracks the processing of KYC files in a user-friendly dashboard, with alerts when action or manual review is required.

quick and easy bulk uploads of your entire client backbook of KYC files

encompass remediate guides you through a simple process to upload all customer KYC data, wherever it resides.

 

flexibility to remediate KYC files based on all your global policies

encompass remediate allows you to select the relevant policy for different customer segments, in line with your risk-based approach.

 

intuitive dashboard keeps you fully informed at all times

encompass remediate tracks the processing of KYC files in a user-friendly dashboard, with alerts when action or manual review is required.

comprehensive audit trail

Comprehensive audit trails for every search and action taken on a profile for demonstrable compliance.

 

make KYC remediation a business advantage

Complete and accurate KYC files give you the information needed to grow your business and enhance customer experience.

see encompass in action

benefits

remediate your entire back book, fast

keep regulators at bay by remediating existing KYC files in bulk to meet new policy requirements

improve customer experience

eliminate disruption in the services you provide to customers due to outdated information

gain full control of KYC

achieve piece of mind with a consistent approach to KYC remediation, for every customer file

reduce the cost of KYC

replace costly manual process with technology and increase analyst productivity

delivery

SaaS portal

our intuitive user interface provides you full automation to access all of your trusted data sources, run searches and discovery, view and action results and conduct ongoing monitoring in one place

API

the encompass API links more than 70 data providers into a single interface, connecting you to the most in-depth and relevant data you need to make your customer onboarding decisions

related content

best practice in AML and KYC compliance

the new know your customer standard

get the full picture, fast

discover what encompass can do for you

Ready to learn how encompass can accelerate your client onboarding and compliance checks?

Fill out the form to request your personalised consultation on how encompass can help your business.

Alternatively you can contact our team directly on 0333 772 0002.

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