automated Know Your Customer (KYC) solution for achieving superior
Anti-Money Laundering (AML) and Counter Terrorism Finance (CTF)
compliance has been launched by Encompass
Corporation, the Australian company with a fast growing
European HQ in Glasgow's IFSD.
platform enables financial services firms to meet the increasingly
demanding regulatory requirements of The European Union's Fourth
Anti-Money Laundering Directive, which must be
implemented by the 26 June 2017.
Alex Ford, VP Marketing & Operations from
Encompass said: "AML4 is something a lot of
businesses are struggling to prepare for. An opportunity
exists for lawyers, accountants and finance professionals to
automate KYC processes in order to reduce the risks of failing to
comply, while vastly improving efficiency - both at
onboarding and when the information needs to be
refreshed during the client life-cycle. We are proud to have
created a system that makes AML/CTF compliance manageable and
delivers peace of mind."
and tested, this new system instantly aggregates and
cross-refers information from 12 data providers in real time.
Trials show on average using Encompass Confirm is more
than 10 times faster than current systems, cutting manual
costs by as much as 80%.
Check out the
video at https://www.encompasscorporation.com/confirm/