Encompass Corporation has unveiled a new partnership with Pegasystems (PEGA), as the pair seek to enhance available data and elevate the customer onboarding process.
The collaboration enables mutual clients to seamlessly access Encompass data within Pega KYC and Pega Client Lifecycle Management applications to streamline customer onboarding and enhance customer experience.
Automation from the rapidly expanding provider of KYC solutions, provides the same processes a human analyst performs but with greater accuracy, consistency, and speed.
Nick Ford, Head of Partnerships at Encompass commented: “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.”
With ambitions of growing KYC capabilities, the collaboration seeks to capitalise on a plethora of features, including Watchlist Screening, KYC Discovery and the integration of global premium news databases.
Eric Musser, Vice President, partner ecosystems, Pegasystems added: ”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.”
Pega CLM and Pega KYC provide large complex financial institutions with pre-defined industry best practices, including over 30,000 KYC rules for multi-jurisdiction and multi-product onboarding. Pega provides a cross line-of-business solution – including corporate, institutional, wealth, and retail – and globally scalable CLM and KYC applications with inherent digital process automation, rules, process, case management, Artificial Intelligence and robotics.
Once the integration is complete the connector to Encompass will be available via Pega Exchange/Marketplace, a curated list of components and applications to enhance Pega solutions.
