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KYC and seizing the benefits of change
KYC transformation is not just a regulatory need, but an opportunity to unlock value across the firm
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KYC software on demand for automated due diligence
Encompass automates the manual due diligence process undertaken by KYC Analysts. Our powerful KYC software provides significant time and cost savings for organizations, and reduces regulatory and reputational risk.
See how Encompass’ KYC software works and why automated due diligence dramatically improves efficiency and compliance.
Step 1: KYC Analyst searches an entity and runs your pre-defined policy
The KYC Analyst creates a profile for an entity in the platform via the Encompass portal or their existing CLM/CRM system with our API integration. Then begins the automated due diligence process.
Our KYC software automatically runs 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 an unrivalled range of global data sources covering over 200 jurisdictions, to build out the corporate hierarchy, and can be expanded to suit your needs.
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
Our intelligent process automation 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). Then they can assess any risks identified through PEPs, sanctions and adverse media screening.
Step 4: Cross-check documents, matching and merging 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 digital KYC profile returned to KYC Analyst
This results in the creation of a digital KYC profile, complete with source documents and audit trail, available for the Analyst to share or download as required. Your KYC Team can be confident that policies have been followed, due diligence has been carried out and activity is compliant and documented.
Encompass’ automated due diligence software transforms the customer onboarding experience
Automating KYC due diligence using the Encompass platform provides increased consistency and efficiency for organizations.
Watch our video to see how our KYC software reduces the need for outreach, improving the onboarding experience for your customers.
Discover Encompass’ KYC software features
Explore our range of end-to-end KYC management features to learn more about how Encompass works and the transformative impacts it can bring to your organization.