From: RegTech Analyst
KYC solution Encompass has partnered with digital transformation company Pegasystems to help mutual customers streamline customer onboarding.
The deal will enable clients of both companies to access Encompass data within Pega Know Your Customer and Pega Client Lifecycle Management solutions to improve onboarding and customer experience.
Automation from Encompass helps to unwrap corporate ownership structures, calculate ultimate beneficial ownership and gather relevant documentation from corporate registers, stock exchanges and regulatory listings.
Encompass head of partnerships Nick Ford said, “We are excited about the benefits that Encompass can bring to Pega’s clients, both present and future, through this partnership.
“This partnership allows Pega customers to automate even more of the KYC process within Pega CLM. A typical corporate profile can be unwrapped, with a visual ownership chart and relevant parties screened, as well as supporting documentation from premium and primary sources collated, in just a few minutes.”
Pegasystems is a customer engagement platform which empowers companies with AI-powered decisioning, chatbots, case management, cloud services, robotic process automation and workforce intelligence.
Pegasystems vice president Eric Musser said, “Financial institutions need to simplify the complexity of client onboarding while meeting growing regulatory requirements and mitigating risk.
“By partnering with Encompass, we are enabling banks to further digitise client onboarding through smart data management, helping our clients drive efficiency through the automation of due diligence data within the client onboarding and KYC lifecycle.”
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