Thomson Reuters Org ID is an end-to-end client identity and verification service that provides a complete legal entity due diligence and document management service through which financial institutions and their end clients (asset managers, hedge funds, correspondent banks and corporates) can more effectively manage their response to new KYC regulatory requirements. Through our OrgID KYC Managed Service, we identify and classify a client’s risk category, verify their identity, and screen all related parties to create a KYC record.
With the recent Clarient and Avox acquisitions, Thomson Reuters empowers the digital economy by enabling banks and their customers to easily exchange the information required to do business together. Through the acquisition, the world’s biggest banks (Barclays, Credit Suisse, Goldman Sachs, JP Morgan, and State Street) are among those integrating their KYC solution into Thomson Reuters Org ID. This now combined operation will now manage over 350,000 KYC records, 1.25m managed legal entities, in over 140 countries. Unlike any other service provider, we continuously monitor for changes and automatically refresh client due diligence information.
Accelerate your ability to excel in KYC due diligence with Thomson Reuters Org ID
Org ID for financial institutions
Org ID streamlines the KYC/CDD (Customer Due Diligence) process to accelerate the onboarding, periodic review cycles, and remediation projects conducted by financial institutions on their end clients.
We identify and classify a client’s risk category, verify their identity, and screen all related parties to create a KYC record. Unlike any other service, we continuously monitor for changes and automatically refresh client due diligence information.
Built-in auditing capabilities allow effective reporting between the board, the business, and regulators
Benefit from a KYC service that:
- operates a comprehensive KYC policy covering 11 capital markets
- unwraps the legal entity and identifies ultimate beneficial owners (UBO)
- maintains and updates legal entity records on a continuous basis
- screens entities and identifies risk flags
- sources legal entity documents in over 200 countries and 60 languages
- is the only service to provide integrated screening and ongoing monitoring to detect changes in your customers’ KYC profiles
Org ID for clients of financial institutions
Eliminate the duplicative work and control the escalating costs associated with responding to an ever-increasing number of KYC due diligence requests.
Thomson Reuters Org ID enables firms to easily provide and securely share their identity documents with financial institutions, eliminating the task of maintaining different sets of records for different financial institutions they have a relationship with.
Org ID also offers an online service called Document Exchange to organizations who may not be end clients of a subscribing Org ID financial institution. This service provides firms with a secure environment to store, maintain, and share identity documents with any financial institution they choose.
The political and regulatory focus on financial services firms continues unabated. While some of the big reforms - such as the wholesale recapitalization of banks - are beginning to draw to a close, many other cross-border regulatory changes still need to be developed and implemented.
This report looks at the cyber risks faced by investment managers, who handle strictly confidential data on a continual basis, whether they perform KYC due diligence on their own clients or respond to KYC requests from their banks.
Screen for heightened-risk individuals and entities globally with Thomson Reuters World-Check, to help you know your customer and uncover hidden risks.
Enhanced due diligence that gives you detailed integrity and advanced background checks on any entity or individual, no matter where they are located in the world.