Know your customer (KYC), AML, CFT, Client Due Diligence
Know Your Customer (KYC)
No one can help you Know Your Customer like Thomson Reuters
We understand that to Know Your Customer (KYC) is serious business, because compliance is not simply an option or a nice-to-have.
A complete, end-to-end KYC solution is essential
Today you may have a patchwork of internal resources and external vendors to handle your Know Your Customer needs, leaving potential gaps in coverage where bad players can hide and putting your revenue and reputation at risk. Imagine the value of efficiency, time and cost savings and greater control using one single KYC solution provider.
At Thomson Reuters, we understand the need for organizations to have a complete, end-to-end KYC solution and we have invested and continue to invest infinite resources to help our customers better understand who they are doing business with.
The Clarient and Avox acquisitions represent another step forward by Thomson Reuters to create a KYC industry standard, making it easier for organizations to conduct global business. The combined offering delivers the industry’s leading KYC solution that:
- reduces on boarding time and cost
- increases compliance
- improves your client experience
Ensure complete KYC compliance at every point
Screening customers by performing due diligence is labour intensive, time-consuming, and diverts needed resources and attention from core revenue business activities.
From knowing the relevant rules at play to vetting clients without alienating them; to monitoring for the duration of the relationship, Thomson Reuters offers you the tools to ensure total compliance at every point. We continuously maintain, update, and validate KYC information so you can be confident that you know who you’re doing business with.
Thomson Reuters brings together a variety of trusted resources that leverage the depth and breadth of our expertise to offer you a holistic KYC solution that effectively addresses the myriad challenges associated with KYC. Having a single KYC resource:
- eliminates duplication
- facilitates communication
- reduces operational costs and improves efficiency
By adopting a risk-based approach to KYC – rather than simply ticking boxes in an attempt to satisfy the regulator – our clients are empowered to identify real risk hiding in business relationships.
Thomson Reuters helps you tackle the issues
This white paper explores the complexity surrounding RBA (Risk Based Approach), taking a look at how the Financial Action Taskforce (FATF) is addressing this and outlines the key risks that need to be addressed.
The Financial Conduct Authority’s (FCA) widely publicized revelation that it has yet to see the full Panama Papers data has exacerbated growing legal concerns whether banks’ compliance with the Fourth Money Laundering Directive (4MLD) is sufficient.
Address the challenges inherent with the process of client on-boarding whilst staying compliant with regulatory demands with our tried and tested, purpose-built application.
Thomson Reuters Org ID simplifies and streamlines counterparty due diligence and the ongoing maintenance of Know Your Customer (KYC) compliance records.