KYC compliance

Org ID

No one can help you Know Your Customer like Thomson Reuters

Through our Org ID KYC Managed Service, we identify and classify a client’s risk category, verify their identity, and screen and monitor all related parties to create a KYC record.

 

Challenges in KYC and AML in 2017 4:09

Setting the standard in KYC compliance

The days of banks having to collect, validate and maintain identity data and information on their customers are over. With the 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. Through the acquisition, the world’s biggest banks (Barclays, Credit Suisse, Goldman Sachs, JP Morgan, and State Street) are among those who have integrated their KYC solution – Clarient – into Org ID.

Our combined operation now manages over 350,000 KYC records, 1.25m managed legal entities, in over 140 countries. Unlike any other managed service provider, we continuously monitor for change and automatically refresh client due diligence information. Along with our award winning data and platforms, Thomson Reuters has firmly set the standard in KYC compliance. No one can help you Know Your Customer like Thomson Reuters.

Reduce onboarding time and cost

Regulatory change is driving longer and more complex KYC processes, pushing costs higher. Org ID streamlines the KYC/CDD (Customer Due Diligence) process to accelerate the client 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 and monitor all related parties to create a KYC record. Built-in auditing capabilities allow effective reporting between the board, the business and the regulators.

Increase compliance

Benefit from a KYC managed 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 ongoing screening and monitoring to detect changes in your customers’ KYC profiles.

Integrated into Org ID entity profile reports is Thomson Reuters Permanent Identifier (Perm ID), enabling financial institutions to further uncover the complex, plethora of dynamic relationships between individuals, entities, and their holdings. Perm ID is akin to a barcode for information and it facilitates greater transparency for firms to gain customer insights and mitigate their risk exposure. 

With Thomson Reuters you can get the trusted answers you need to achieve operational efficiency, increase compliance, drive down costs and promote a culture of meeting ever-changing regulatory compliance demands.

Improve customer satisfaction

In a recent global KYC survey conducted by Thomson Reuters 47% of corporates stated they feel the lack of a common standard in the KYC documentation required by each bank is their biggest challenge. Improve your customer’s experience by eliminating the duplicate work and control the escalating costs associated with responding to ever-increasing numbers of KYC due diligence requests.

Org ID enables firms to easily provide and securely share their identity documentation with financial institutions, eliminating the task of maintaining different sets of records for different financial institutions they have a relationship with.

Request details

Please fill out all required fields before submitting your request.

By submitting this form you are acknowledging that you have read and agree to our:

Privacy Policy