encompass corporation expands product offering with new global identify verification feature

encompass corporation expands product offering with new global identify verification feature
14.11.2018 06:42 am

encompass corporation expands product offering with new global identify verification feature

Artificial Intelligence , Authentication Technology

encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it now offers global biometric identify verification (IDV) and document authentication on its platform.

encompass has integrated with global electronic identity verification providers to enable customers to fully automate IDV as part of their overall onboarding and KYC processes. Advanced imaging algorithms allow users to authenticate an official identity document and conduct biometric checks against a “selfie” of the person being onboarded, in addition to conducting bureau checks for further validation. Bureau searches are carried out globally, using a customer’s preferred sources.

The capability enables encompass customers to conduct IDV and risk screening for PEPs (Politically Exposed Persons), Sanctions and Adverse Media in one automated process, against all required sources, in just minutes.

The integration of this additional feature is the latest step in encompass’ mission to provide its customers with all the tools they need for quick, comprehensive KYC in a single solution so that the process can be carried out in-house rather than being outsourced. 

Firms can use the encompass automation platform across their entire client base, whether their clients are large corporates, SMEs, sole traders or individuals. By integrating a wide range of biometric and electronic IDV providers into a seamless experience, encompass provides customers with the freedom to use the most appropriate providers in each of the jurisdictions in which they operate, improving straight through processing rates and the customer experience. 

Wayne Johnson, CEO and Co-founder at encompass corporation, said: “At encompass, our goal is to transform our customers’ KYC processes through Intelligent Process Automation and AI, and the integration of biometric identify verification into our platform is testament to our commitment to delivering cutting-edge technological solutions. Against the backdrop of an ever increasing and evolving regulatory environment, our ability to adapt our platform to incorporate technologies as and when they become available means our customers can “future proof” their compliance processes.”

Related News

Calypso and 2021.AI team up to leverage AI in financial institutions

Calypso Technology Inc. and 2021.AI are joining forces in a new partnership with the aim of optimizing back-office processes for Calypso’s global client base. Combining their... Read more »

DataRobot launches its First AI Investment Workflow with FactSet

FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated financial information, analytical applications, and industry-leading service, and ... Read more »

Swiss Re Group Chooses Expert System to Power Knowledge-Intensive Processes with Artificial Intelligence

Expert System announces that it has been working with Swiss Re leveraging the advanced features of Cogito®, a strategic NLU (Natural Language Understanding) technology. With... Read more »

FinTech partnership strengthens position of five°degrees and W.UP in European banking and finance market

Today five°degrees; a digital core banking provider, announces its partnership with W.UP, a banking provider that uses artificial intelligence to generate digital revenue and... Read more »

Capita partners with UiPath to enhance RPA capability

Capita announces it has entered a partnership with UiPath, the world’s leading Robotic Process Automation (RPA) software provider. As Capita’s preferred provider of RPA... Read more »

interface Powered Digital Assistant Increases Customer Acquisition by 5x for a Texas-Based Credit Union

Texas Dow Employees Credit Union (TDECU), a texas-based credit union with assets over $3 billion, implements interfaces' AI-Powered Digital Assistant, helping drive the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel