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Modernize banking operations with KYC process automation
Bank COO's and leaders can boost their operational excellence with KYC process automation.
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Real-time digital KYC profiles delivered by dynamic KYC process automation
Encompass automates the manual due diligence process undertaken by KYC analysts. Our award-winning platform provides significant operational efficiency savings for organizations, decreases time to revenue and delivers a consistent approach to compliance, for every customer journey.
See how complete, real-time KYC investigations are conducted in the Encompass platform and why dynamic KYC process automation ensures consistent policy adherence.
Step 1: KYC analyst performs entity search
The KYC analyst initiates the KYC search process in the Encompass platform or their existing CLM/CRM system with our API integration.
Encompass fully automates your search process by running live data searches and document collation against trusted data sources, aligned with your pre-defined compliance policies and processes. Encompass retrieves and integrates KYC data from limitless global public and premium KYC data products, to build out the corporate hierarchy.
Step 2: Screen entities for PEPs, sanctions and adverse media
Entities identified in the ownership structure are screened against global Politically Exposed Persons (PEP), sanctions and adverse media data as defined by your policy and risk-based approach.
Step 3: Identify the ultimate beneficial owner
The platform presents results back to the KYC analyst within minutes, enabling them to easily visualize and unwrap the corporate structure to discover the ultimate beneficial owner (UBO). Encompass makes it simple to assess any risks identified through PEPs, sanctions and adverse media screening.
Step 4: Cross-check documents, match and merge data
Encompass dedupes and merges data automatically, reducing the KYC analyst’s workload. Documents are presented back to cross-check, match and merge further and conduct follow-on searches where any extra investigation is required. All within a single platform.
Step 5: Complete real-time digital KYC profile returned to KYC analyst
This results in the creation of a digital KYC profile, complete with source documents, data attribute lineage and audit trail, available for the analyst to share or download as required. Your KYC team can be confident that policies have been followed and activity is compliant and documented.
Dynamic KYC process automation from Encompass
Watch our video on how the Encompass dynamic KYC process automation platform helps banks across the world automate manual KYC processes to build complete real-time digital KYC profiles of their customers.
Discover more about the Encompass platform
Explore our range automation capabilities and pre-built data integrations to learn more about how Encompass works and the transformative impacts it can bring to your organization.