encompass, an automated Know Your Customer (KYC) solutions provider, has bolstered its KYC platform with global biometric identify verification (IDV) and document authentication features.
The new service, enabled through integration with global electronic identity verification providers, will automate IDV process and facilitate overall on-boarding and KYC processes.
The biometric identify verification process
Users can authenticate themselves through an official identity document which will be validated using advanced imaging algorithms. Biometric checks will be carried out against a ‘selfie’ of the respective person.
The platform will also enable bureau searches, conducted globally using customer’s preferred sources.
Following the addition, the customers can conduct IDV and complete all risk screening procedures, against all required sources, in minutes.
encompass co-founder and CEO Wayne Johnson said: “At encompass, our goal is to transform our customers’ KYC processes through Intelligent Process Automation and AI, and the integration of biometric identify verification into our platform is testament to our commitment to delivering cutting-edge technological solutions.
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“Against the backdrop of an ever increasing and evolving regulatory environment, our ability to adapt our platform to incorporate technologies as and when they become available means our customers can ‘future proof’ their compliance processes.”
The addition of the new feature forms a part of encompass’ strategy to provide all the tools in a single solution to enable swift completion of the KYC process.