The burden of administrative tasks, particularly in Know Your Customer (KYC) onboarding, can significantly impede front office productivity. More importantly, their ability to focus on revenue-generating activities. Subsequently, the transition from manual processes to digital solutions becomes crucial, especially in the context of client outreach. Front office time reduced by 20% Where front office staff […] The post Why waste your frontline staff on KYC outreach? appeared first on Encompass Corporation ..read more

Generative Artificial Intelligence (GenAI) tools like ChatGPT from OpenAI and Google Gemini have transformed the retail banking sector. Reshaping conventional approaches and offering unparalleled efficiencies, they automate customer interactions through intelligent chatbots. Additionally, improving risk assessment methods in credit scoring and investment advice. AI for streamlined KYC onboarding For Know Your Customer (KYC) onboarding, GenAI […] The post Transforming KYC onboarding with GenAI: A new era in banking appeared first on Encompass Corporation ..read more

Know Your Customer (KYC) procedures stand as a cornerstone for establishing trust and compliance within the banking sector. Yet, traditional KYC processes pose significant challenges, from manual data collection to prolonged onboarding times. Enter corporate digital identity (CDI) – a game-changer in KYC onboarding. By standardizing identity verification of their corporate clients, corporate, investment and […] The post Six benefits of corporate digital identity (CDI) for better KYC onboarding appeared first on Encompass Corporation ..read more

Our recent webinar explored Corporate Digital Identity (CDI). Together with its potential to revolutionize client experience and cost models for the corporate, commercial and investment banking industry. The following blog highlights the key topics of discussion. Panelists: Alex Ford: President, North America, Encompass Corporation Ivar Lammers: Global Head of Financial Crime, Wholesale Banking, ING Alan […] The post Corporate digital identity: The future of customer centric banking appeared first on Encompass Corporation ..read more

As banks look to digital transformation, the key lies in recognizing that not all existing manual processes should be automated. Instead, it is an opportunity to orchestrate a strategic approach that allows for a redesign of the entire process. In this blog, we explore the art of reducing ‘white noise’. Particularly honing in on the […] The post Reducing white noise through strategic automation appeared first on Encompass Corporation ..read more

As we approach International Women’s Day, the spotlight is once again on the critical importance of parity in the workplace. The journey towards achieving gender equality has made significant strides. But continued effort is required to ensure that every woman has equal opportunities for success and fulfillment professionally. This blog explores the significance of workplace […] The post Empowering equality: Fostering inclusion for women in the workplace appeared first on Encompass Corporation ..read more

In this blog we meet Loes Bomans. We discover more about her career and views on unveiling the future of Know Your Customer (KYC) with digitization. Career pathway Loes embarked on her career in 2014, as a retail banking trainee at ING after completing her MSc in Strategic Management. During her years at ING, she […] The post In the spotlight: Loes Bomans unveils the future of KYC appeared first on Encompass Corporation ..read more

In financial services, digital identity has proven transformative, particularly in retail banking. However, when it comes to business entities, corporate, commercial and investment banks face greater challenges. There are vast amounts of disparate information required to establish identities and meet regulatory requirements. The solution lies in embracing Corporate Digital Identity (CDI). CDI takes a holistic […] The post The evolution of corporate digital identity in banking appeared first on Encompass Corporation ..read more

Encompass Corporation and Ernst & Young LLP (EY US) hosted an executive roundtable to discuss Know Your Customer (KYC) transformation. Held in New York City, senior executives from the largest banks were invited to share their perspectives on KYC transformation, their challenges, and opportunities for automation. The session was held under the Chatham House Rule […] The post Bank executives share their perspectives on KYC transformation appeared first on Encompass Corporation ..read more

The post Encompass acquires CoorpID and Blacksmith KYC from ING appeared first on Encompass Corporation ..read more