Encompass Corporation Unveils EC360 to Revolutionize Corporate Client Verification
4 February 2025
Encompass Corporation, a leader in KYC automation and CDI, has launched EC360, a cutting-edge platform designed to meet the evolving demands of the banking industry.
Renowned for its expertise in automating Know Your Customer (KYC) processes, Encompass Corporation provides innovative solutions that boost efficiency and compliance standards within the financial sector.
As the financial landscape rapidly changes, banks face increasing pressure to modernize due to heightened customer expectations and growing competition. The need for quick and accurate corporate client identity verification has become more critical than ever. In response, EC360 was developed to offer a more effective solution for managing KYC processes and delivering seamless customer experiences.
The EC360 platform integrates a wide range of public and private data sources, offering banks a comprehensive, 360-degree view of their corporate clients. By automating the collection, organization, and consolidation of data from sources such as registries, law enforcement, and stock exchanges, the platform provides a data-agnostic approach that allows banks to customize the information they gather. This ensures compliance while enhancing operational efficiency.
With EC360, the corporate client onboarding process is revolutionized, enabling fast, seamless, and accurate identity verification. The platform’s innovative features address the challenges posed by outdated manual processes and legacy systems, providing a streamlined, automated solution that ensures compliance with evolving regulatory requirements.
EC360 not only transforms KYC processes but also improves decision-making by creating comprehensive digital risk profiles. The automation reduces the time and resources needed for onboarding, cutting operational processes by up to 32% compared to traditional methods. Banks can expect efficiency improvements of 21% in the first year, increasing to 59% by the fifth year of CDI implementation.
One standout feature of EC360 is the EC Public Automation solution, which integrates public data and documents necessary for KYC. The platform resolves data inconsistencies and offers actionable insights, including detailed beneficial ownership hierarchies. Additionally, the EC Private Outreach solution enables secure sharing of sensitive documents via a digital vault, ensuring privacy and control over access.
“Banks are overwhelmed by outdated processes and legacy systems that struggle to keep pace with increasing regulatory demands and rising client expectations,” said Wayne Johnson, CEO of Encompass Corporation. “EC360 is more than just a platform; it’s the blueprint for the future of banking. It automates the real-time collation of data and documents and supplements this with securely sourced private information from clients, resulting in comprehensive digital risk profiles that eliminate manual processes, enhance decision-making, and ensure compliance. Built with scalability, security, and reliability at its core, EC360 enables global banks to deliver consumer-class service experiences to corporate clients worldwide.”
Wayne Johnson concluded, “At Encompass Corporation, our mission is to empower banks to optimize their KYC processes, strengthen risk management, and meet compliance standards—all while driving greater efficiency. With EC360, we’ve created a solution that transforms the way banks operate. As banking continues to evolve, so must the systems that support it, and EC360 is the solution for that future.”
