encompass corporation expands product offering with new global identify verification feature
- Artificial Intelligence , Authentication Technology
- 14.11.2018 06:42 am
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.”