Know your customer (KYC) processes are essential for compliance and risk management. However, the traditional manual approach presents significant challenges for banks. These lead to inefficiencies, excessive cost, and poor customer experience. In this blog we explore the path to corporate digital identity (CDI) from manual KYC and the benefits on offer. Challenges of manual […] The post The journey from manual KYC to corporate digital identity appeared first on Encompass Corporation ..read more

Encompass has recently welcomed Neil Acworth as Chief Information Security Officer (CISO). Neil brings a wealth of experience and strategic vision that promises to bolster Encompass’s commitment to robust information security practices. A career pathway rooted in innovation Neil’s journey through the tech industry has been marked by a steadfast dedication to innovation and problem-solving. […] The post In the spotlight: Neil Acworth’s vision as new Encompass CISO appeared first on Encompass Corporation ..read more

In June, Encompass and EY hosted an executive roundtable in New York, facilitated by Dr. Henry Balani, Global Head of Industry & Regulatory Affairs at Encompass and Barry Cooper, Managing Director at EY, under Chatham House rules. Conversations focused on the evolving digital expectations of clients and how banks can effectively transform their client outreach […] The post Transforming client outreach: Executive roundtable summary & key learnings appeared first on Encompass Corporation ..read more

This blog summarizes a recent Encompass webinar, and poll results, discussing the challenges and benefits of digitizing client outreach. Panelists included Danielle Fugazy, American Banker; Jo Wiper, Citizens Bank; Reetika Grewal, Wells Fargo; Ken Triemstra, Citi; and Alex Ford from Encompass. Retail client experience has raised expectations Retail banks have driven digital transformation over the […] The post Webinar recap: Digitizing client outreach and onboarding in institutional banking appeared first on Encompass Corporation ..read more

Perpetual KYC (pKYC) can revolutionize how banks deliver Know Your Customer (KYC) processes. To understand the present state of pKYC we interviewed our transformation expert Howard Wimpory to discuss further insights. What is pKYC? Unlike traditional scheduled periodic reviews, pKYC aims to initiate a review in near real-time whenever a change to the client’s KYC […] The post Understanding the present state of pKYC appeared first on Encompass Corporation ..read more

Digital transformation marks a shift in how financial institutions operate, interact with clients, and combat financial crimes. What is CDI and why is it useful Central to this transformation is the concept of a corporate digital identity (CDI). This has emerged as a vital tool for banks to authenticate corporate entities efficiently and securely. In […] The post The impact of Corporate Digital Identity standards on beneficial ownership identification appeared first on Encompass Corporation ..read more

Digital transformation marks a shift in how financial institutions operate, interact with clients, and combat financial crimes. What is CDI and why is it useful Central to this transformation is the concept of a corporate digital identity (CDI). This has emerged as a vital tool for banks to authenticate corporate entities efficiently and securely. In […] The post The impact of Corporate Digital Identity standards on beneficial ownership identification appeared first on Encompass Corporation ..read more

As we progress through 2024, regulators worldwide find themselves increasingly busy. Grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of technology. The impact on financial crime regulation is profound. Subsequently, many new measures and adaptations are required to keep pace with these dynamic conditions. Upcoming national election cycles The […] The post Regulatory challenges in a shifting geopolitical and technological landscape appeared first on Encompass Corporation ..read more

For corporate banks, the choice between building an in-house KYC solution or purchasing a pre-built one is often laden with complexities. In our eBook, we navigate the path through the decision-making maze of KYC build vs. buy. Offering invaluable insights and a framework to empower banks to make an informed choice. The complexity of client […] The post Navigating the complexities of KYC build vs. buy appeared first on Encompass Corporation ..read more

The banking sector finds itself amidst a seismic shift, propelled by the evolution of digital technologies. In this landscape, Corporate Digital Identity (CDI), emerges as a powerful solution, revolutionizing the authentication of corporate entities. However, to truly harness its full potential a concerted effort from the amalgam of stakeholders, including banks, technology providers, regulators, and […] The post CDI’s impact on financial crime prevention in banking appeared first on Encompass Corporation ..read more