Encompass has introduced EC Review, a structured KYC remediation and refresh service aimed at mitigating risks associated with legacy client records in banks.
In the wake of this announcement, Encompass has launched EC Review, a KYC management tool intended to assist financial institutions in identifying and addressing compliance gaps within their existing client databases. This product addresses a longstanding issue in the banking sector: extensive initial onboarding procedures that overlook legacy KYC data, leading to potential risk exposures during audits or regulatory inspections.
Based in the UK, Encompass views EC Review as a structured and scalable solution distinct from its current EC360 onboarding platform. Instead of replacing existing client lifecycle management (CLM) or KYC systems, EC Review is designed to complement them — accepting existing records, processing them through automated workflows, and delivering outputs either in the form of structured flat files or directly into CLM platforms.
Scaling legacy data review
According to the official press release, the service functions by batch processing, verifying, reviewing, and resolving client profiles against authoritative public sources to uncover gaps, inconsistencies, and necessary remediations. Encompass emphasizes that the solution does not include automated regulatory interpretation; it is intended solely for surfacing data quality issues.
EC Review is particularly tailored to high-volume scenarios where self-serve tools are inadequate, such as periodic client due diligence refreshes, optimized due diligence, documentation updates, screening and sanctions checks, and preparations for audits or regulatory inspections. The service also tackles operational challenges during mergers and acquisitions by rapidly reviewing large volumes of client records.
For institutions, the business case revolves around cost savings and improved operational efficiency. By automating data extraction from public sources and reducing the need for extensive manual follow-ups with clients, Encompass claims that EC Review reduces the operational burden of ongoing KYC management while maintaining comprehensive audit trails and provenance of data. The company highlights that low-risk client reviews can be intensified without a proportional rise in costs — something unachievable through manual processes alone.
Strategic context
Driven by the EC360 platform, EC Review extends Encompass’ Corporate Digital Identity (CDI) functionalities beyond initial onboarding verification. For Encompass, this product represents an additional revenue stream, leveraging existing automation and intelligence infrastructure without necessitating new platform investments.
The launch reflects a broader trend in financial institutions moving from reactive compliance strategies to proactive data governance. Regulatory scrutiny of KYC program quality has intensified in major markets over the past few years, with remediation programs becoming a substantial operational and financial challenge for large banks. A managed service model — where an external party structures and executes the review process at scale — addresses both cost and capacity constraints that make internal remediation difficult to sustain.
