About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Encompass Corporation and IHS Markit Partner to Chop KYC Time by a Third

Subscribe to our newsletter

IHS Markit has integrated a new KYC automation solution from London-based encompass corporation into its KYC Services offering, in a bid to reduce manual processes and drive efficiency. Using encompass, IHS Markit has fully automated the collection of critical KYC data from the public domain, including global corporate registries, regulatory listings and exchanges.

As the regulatory burden increases and the KYC space becomes more competitive, the quality and speed of KYC turnaround are an increasingly important differentiating factor. IHS Markit estimates a 30% reduction in the time taken to gather KYC data using encompass – a substantial improvement.

Other benefits are expected to include enhanced consistency, a reduction in complexity due to the use of intelligent process automation, and improved compliance standards through improved transparency.

“Our partnership with encompass will help us increase efficiency, speed of production, and further improve our high quality due diligence for our KYC services,” says Marjorie Chee, global head of KYC Services, IHS Markit. “Through technology, we are automating traditionally manual processes, improving data quality for our growing customer base as well as scaling up to support new jurisdictions – allowing us to put a greater focus on screening for negative news and politically exposed person (PEP) checks rather than purely data collection.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Solving the problem of integrating beneficial ownership data with client onboarding and KYC systems

Client onboarding and Know Your Customer (KYC) processes are becoming more complex as regulation drives towards the inclusion of beneficial ownership data and requires financial institutions to improve customer due diligence still further. The webinar will discuss the need for beneficial ownership data, how it can be sourced and how it can be efficiently and...

BLOG

Reframing Corporate KYC: Encompass Targets Back-Book Exposure with Scalable EC Review

For many SME focussed banks, KYC investments have streamlined the onboarding journey but legacy KYC records – the back-book – often remain dormant until a regulatory inspection, or an enforcement case at a peer institution, forces a wholesale review. The challenge that follows is how to remediate at scale, with urgency, and without the need...

EVENT

RepRisk Sustainability Breakfast Roundtable London

The London sustainability breakfast is part of the global roundtable thought leadership event series hosted by RepRisk in key markets, including, New York, Toronto, London, Frankfurt, Oslo, Copenhagen, Stockholm, Hong Kong and Singapore in 2026.

GUIDE

The Reference Data Utility Handbook

The potential of a reference data utility model has been discussed for many years, and while early implementations failed to gain traction, the model has now come of age as financial institutions look for new data management models that can solve the challenges of operational cost reduction, improved data quality and regulatory compliance. The multi-tenanted...