Encompass

Encompass is an advanced SaaS platform that automates Know Your Customer (KYC) processes and customer due diligence (CDD) for financial institutions and businesses. Leveraging AI, Encompass gathers and analyzes customer data from multiple global sources in real time to streamline compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. The platform helps organizations improve operational efficiency, reduce compliance costs, and ensure adherence to regulatory requirements through its AI-driven automation, visualizations, and comprehensive data integration capabilities.

Key Features:

1. KYC Automation: Encompass automates the entire KYC process, from customer onboarding to periodic reviews and monitoring. The platform collects, analyzes, and verifies customer information from multiple sources, including company registries, sanctions lists, adverse media, and other global data providers, reducing the time and effort required for manual checks.

2. Real-Time Data Collection: The platform connects to numerous data sources worldwide, including corporate registries, financial databases, PEP (Politically Exposed Persons) lists, sanctions lists, and adverse media. This ensures real-time access to up-to-date information, enabling organizations to make informed decisions quickly and accurately.

3. Customer Due Diligence (CDD): Encompass supports all levels of customer due diligence, from simplified due diligence (SDD) to enhanced due diligence (EDD) for higher-risk clients. The platform’s automation tools reduce the complexity of verifying customer identities, assessing risk, and ensuring compliance with CDD and KYC requirements.

4. Visual Risk Assessment and Entity Mapping: The platform provides interactive visualizations of customer data and risk profiles, allowing compliance teams to easily map entity relationships, ownership structures, and potential risks. These visual insights enable compliance officers to quickly identify beneficial owners, high-risk entities, and complex organizational structures.

5. Adverse Media Screening: Encompass scans global media sources in real-time to identify any negative or adverse mentions related to customers, partners, or third parties. This feature helps organizations assess reputational risk and detect potential compliance issues before they escalate.

6. Sanctions and PEP Screening: Encompass continuously screens customers against global sanctions lists, politically exposed persons (PEP) databases, and other watchlists. The platform automates these screenings during onboarding and throughout the customer lifecycle, flagging any changes or high-risk individuals that require further investigation.

7. Risk-Based Approach: Encompass allows businesses to implement a risk-based approach to compliance, tailoring KYC and due diligence processes to the risk level of each customer. The platform’s AI-driven risk assessment capabilities ensure that higher-risk customers are subject to greater scrutiny, while low-risk customers benefit from more streamlined processes.

8. Case Management and Workflow Automation: The platform includes a case management system that tracks, manages, and resolves compliance issues. Compliance teams can assign tasks, track investigations, and document decisions within the platform, ensuring that KYC processes are efficient and well-documented.

9. Regulatory Compliance and Audit Trails: Encompass helps organizations maintain regulatory compliance by creating an audit trail of all KYC and due diligence activities. The platform ensures transparency by recording every step of the customer onboarding and monitoring processes, making it easier to demonstrate compliance during audits.

Benefits:

• Increased Efficiency: By automating KYC and CDD processes, Encompass significantly reduces the time and resources required for compliance tasks, allowing teams to onboard customers faster and focus on higher-value activities.

• Improved Risk Management: Encompass’s real-time data collection, adverse media screening, and visual entity mapping provide organizations with deeper insights into customer risks, enabling proactive management of potential threats.

• Global Compliance Coverage: The platform supports compliance with international AML, KYC, and CTF regulations, ensuring that organizations meet the evolving requirements of regulators worldwide.

• Enhanced Customer Experience: Automation streamlines the onboarding and monitoring processes, reducing the time it takes to onboard clients while ensuring a thorough and compliant due diligence process.

• Scalability: Encompass is scalable for businesses of all sizes, from small financial firms to large multinational banks, enabling them to manage compliance efficiently as they grow.

Use Cases:

• Banks and Financial Institutions: Banks use Encompass to automate KYC and CDD processes for onboarding new clients, ensuring compliance with AML regulations and managing customer risk profiles efficiently.

• Fintech Companies: Fintechs rely on Encompass to streamline the verification of customer identities, conduct real-time screenings, and ensure compliance with global KYC and AML requirements.

• Insurance Companies: Insurance providers leverage Encompass to assess customer risk, conduct enhanced due diligence on higher-risk policyholders, and ensure compliance with regulatory standards.

• Legal and Accounting Firms: Professional services firms use Encompass to conduct due diligence on clients, ensure compliance with AML regulations, and map complex ownership structures.

Encompass provides a powerful, AI-driven platform that automates KYC and due diligence processes, helping organizations mitigate risk, improve compliance, and streamline customer onboarding. With its real-time data collection, advanced visualizations, and comprehensive risk assessment tools, Encompass is a valuable asset for businesses seeking to enhance their compliance efforts.

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