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Encompass description
Encompass is a cloud-based software platform designed to automate and simplify the Know Your Customer (KYC) process in the financial industry. It helps mid-sized and larger companies, especially banks, onboard new customers faster and manage risk more effectively. Encompass gathers information from various sources, verifies identities, and creates detailed customer profiles, making sure businesses comply with regulations. It integrates with existing systems and boasts a faster, more efficient KYC process.
What companies are using Encompass?
Who is Encompass best for
Encompass automates KYC processes for financial institutions, providing time-saving features like automated data collection and verification. However, some users find the interface confusing and report slow performance. Its comprehensive loan origination features are highly praised.
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Best fit for small businesses seeking KYC automation.
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Ideal for financial institutions needing streamlined KYC compliance.
Encompass features
| Supported Encompass automates KYC processes, streamlining onboarding workflows and reducing manual effort. |
| Supported Encompass facilitates compliance reporting by providing audit trails, compliance checks, and data lineage. |
| Supported Encompass automates KYC checks, including identity verification and document authentication. |
| Supported Encompass performs real-time identity verification, though "instant" is not explicitly confirmed. |
| Supported Encompass verifies identities by checking against various databases. |
Encompass reviews
We've summarised 43 Encompass reviews (Encompass Software Advice reviews, Encompass Capterra reviews and Encompass G2 reviews) and summarised the main points below.
- Comprehensive loan origination features, streamlining the entire process.
- Automated KYC data collection and verification, saving time and effort.
- Centralized platform for storing loan information, improving organization.
- Strong compliance features, ensuring adherence to regulations.
- Excellent customer support for technical issues.
- Slow performance and frequent lags, impacting productivity.
- Confusing interface and navigation, especially for reporting.
- Limited real-time collaboration features, leading to potential delays.
- Overly customizable, resulting in inconsistencies and steep learning curves.
- Outdated appearance and limited mobile app functionality.
Encompass alternatives
VeriffBetter for smaller companies. Has growing momentum. A Veriff alternative focused on real-time identity verification and fraud prevention.Read more
Know Your CustomerBetter Know Your Customer (KYC) alternative for enterprise businesses. Has a stronger focus on KYB procedures. Shows more momentum.Read more
OndatoBetter fit for small and medium businesses. A good Encompass alternative for industries like telecommunications and marketing. More positive user reviews and faster employee growth. Excellent customer support.Read more
KYC know your customerBetter for smaller businesses. A simpler Encompass alternative lacking advanced features like compliance reporting and database checks.Read more
ComplyCubeBetter suited for enterprise businesses. Has a more positive pricing sentiment and offers a free Startup Program. Shows stronger momentum and boasts higher user ratings. Provides superior customer service, ease of use, reliability, implementation, and scalability. ComplyCube is a strong Encompass alternative.Read more
IT GlueBetter for IT documentation and password management. More suitable for IT companies. Caters to a wider range of company sizes.Read more
Encompass FAQ
What is Encompass and what does Encompass do?
Encompass is a cloud-based KYC automation platform designed for financial institutions. It streamlines customer onboarding, manages risk, and ensures regulatory compliance by automating data collection, identity verification, and customer profile creation. It's best suited for mid-sized to large banks.
How does Encompass integrate with other tools?
Encompass integrates with existing systems to streamline the KYC process. It automates data collection and verification by connecting to various databases and performing real-time identity checks. This reduces manual effort and improves compliance.
What the main competitors of Encompass?
Top alternatives to Encompass include Veriff, Ondato, Know Your Customer, and ComplyCube. These platforms offer similar KYC and AML compliance solutions, often with features like automated identity verification and fraud prevention.
Is Encompass legit?
Yes, Encompass is a legitimate KYC automation software. It helps financial institutions, especially mid-sized to large banks, comply with regulations. However, some users report slow performance and a confusing interface. Consider exploring alternatives if these are critical concerns for your business.
How much does Encompass cost?
I couldn't find pricing information for Encompass. For detailed pricing information, it's best to contact Encompass directly.
Is Encompass customer service good?
Encompass's customer service receives mixed reviews. While some users praise the knowledgeable technical support team, others express frustration with difficulty reaching sales representatives and a lack of public pricing information.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.