Accuity, Encompass team up for KYC risk assessments

The partnership with Encompass will help Accuity to create a new solution that allows clients to facilitate customer due diligence by performing a KYC risk assessment at the point of onboarding or periodical review in a single search.

79% respondents of a KYC survey conducted by Accuity revealed that they see automating data and workflow processes to save time as a priority. Manual KYC processes consume time, are prone to error, and undermine risk scoring decisions, however this partnership will allow Bankers Almanac: Counterparty KYC customers to automate the collection of ultimate beneficial ownership and screening list information, enabling auditable risk decisioning, Fintech Finance reveals.