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avoid risks associated with outdated KYC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.