#London #United Kingdom #Encompass Corporation #EC360 #KYC Automation

Transforming Corporate Client Verification with EC360

Encompass Corporation, a pioneer in Know Your Customer (KYC) automation and corporate digital identity (CDI), has recently unveiled EC360, a groundbreaking platform aimed at transforming the banking sector's approach to corporate client verification. This innovative solution emerges at a time when financial institutions wrestle with outdated processes that hinder efficiency and client satisfaction.

A Game-Changer in Banking Operations

The financial industry faces mounting pressure from rising client expectations and regulatory demands. Acknowledging these challenges, Encompass Corporation has designed EC360 to seamlessly integrate both public and private data, providing a comprehensive 360-degree view of corporate clients. With this holistic perspective, banks can swiftly execute flawless identity verifications, significantly enhancing the client onboarding experience.

In a landscape where inefficiencies in manual processes are common, EC360 promises substantial improvements. Recent studies indicate that banks using this platform can expect to see operational process reductions by up to 32%, a significant drop from the average 51 hours required for client onboarding in Tier 1 banks.

Features of EC360

The EC360 suite includes notable solutions: EC Public Automation, EC Private Outreach, and EC CoorpID. These tools are designed to easily integrate with existing technologies, facilitating a smoother digital transformation journey for banks. Key features of EC360 include:

• - Data Collation and Integration: Automates the collection and organization of data from various sources, ensuring compliance and meeting business requirements.
• - Customizability: The data-agnostic framework allows banks to collect tailored information, incorporating real-time data inputs from diverse registries and regulatory bodies.
• - Enhanced Risk Profiles: EC360 generates comprehensive digital risk profiles, drawing on both public and securely sourced private data to improve decision-making processes at financial institutions.

Benefits Beyond Compliance

Wayne Johnson, CEO and Co-founder of Encompass Corporation, emphasizes that EC360 is more than just a technological solution; it's a blueprint for the future of banking. By ensuring compliance with global regulations and mitigating risks effectively, banks can protect themselves against legal and operational pitfalls while providing superior service to clients.

Furthermore, banks adopting EC360 will experience remarkable operational efficiencies, resulting in significant cost savings. Automation of manual processes reduces human error and streamlines client interactions, creating a seamless experience reminiscent of consumer-facing services. This user-friendly approach places corporate clients on par with everyday consumers, affirming the service quality expectations in today's financial environment.

A Call for Transformation

As the banking sector evolves, so too must the systems that support it. The benefits of implementing EC360 are clear: compliance, efficiency, and superior client interactions. Johnson urges banking leaders—specifically CEOs, COOs, and heads of digital transformation—to consider the transformative impact of this new platform.

Recognition of the strain that outdated systems exert on operations drives the need for innovative solutions. EC360 meets this demand through advanced automation that validates and verifies corporate identities, unlocking avenues for growth and operational excellence.

Conclusion

In conclusion, the launch of EC360 by Encompass Corporation signals a pivotal moment in corporate client verification. By marrying advanced technology with the specific needs of the banking sector, this platform promises to revolutionize how financial institutions approach client relationships. As the future unfolds, adopting such transformative technologies may very well determine the leaders in an increasingly competitive banking landscape.

For those interested in further exploring EC360's offerings and capabilities, more information can be found on Encompass Corporation's website.