Encompass provides a corporate digital identity platform that automates Know Your Customer (KYC) processes by integrating real-time data from authoritative public and private sources to create accurate digital risk profiles. This technology significantly reduces the time and effort required for customer onboarding and regulatory compliance, enhancing efficiency for financial institutions.
Funding
$32.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PPFounders
Product
Problem
Financial institutions face challenges in efficiently onboarding corporate clients due to complex Know Your Customer (KYC) and due diligence requirements. Gathering and verifying corporate information from disparate sources is time-consuming and prone to errors, leading to delays and increased operational costs.
Solution
Encompass offers a Corporate Digital Identity (CDI) platform that automates KYC processes by aggregating real-time data from authoritative public and private sources. The platform creates comprehensive digital risk profiles of corporate customers, enabling faster and more accurate identity validation and verification. By streamlining data collection and analysis, Encompass helps financial institutions improve customer experience, accelerate onboarding, and ensure consistent regulatory compliance. The platform's dynamic KYC process automation and pre-built data integrations contribute to significant time savings and increased efficiency in building digital KYC profiles.
Target Audience
The primary target audience includes banks and other financial institutions that need to streamline corporate client onboarding, improve KYC compliance, and mitigate risk.
Features
- Real-time data aggregation from global public data sources and private customer information
- Dynamic KYC process automation for efficient customer onboarding
- Pre-built data integrations for seamless workflow integration
- CDI profiles for complete customer risk assessment
- Data attribute lineage tracking for transparency and auditability
- UBO (Ultimate Beneficial Owner) verification to identify controlling parties
- Screening capabilities for sanctions, PEPs (Politically Exposed Persons), and adverse media
- Full audit trail for compliance reporting