Thomson Reuters announced today that Tradeweb Europe, an affiliate of the news giant and a provider of electronic fixed income and derivatives marketplaces, has selected Thomson Reuters Accelus Org ID to enhance its existing Know Your Customer (KYC) protocols.
“We have very strong customer due diligence processes in place and have expanded the resources available to our business by leveraging the service offered by Accelus Org ID,” said Simon Maisey, Managing Director, Finance and Business Management at Tradeweb. “Accelus Org ID will support this effort by advising on client changes and performing required updates screening on our clients. We view Accelus Org ID as a great enhancement to our ongoing monitoring, and this service will ensure that our KYC information remains current and accurate.”
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Thomson Reuters launched Accelus Org ID earlier this year as an end-to-end client identity service that collects, verifies, determines ultimate beneficial owners and monitors a legal entity for change. The service is used for new client on-boarding and refreshing existing portfolios. Accelus Org ID is said to provide a real-time “KYC passport” which represents a validated and screened identity, simplifying the account opening process.
“We are extremely pleased to be working with Tradeweb to help ease the burden of the increasingly rigorous KYC demands,” says Anna Mazzone, Head of KYC Managed Services at Thomson Reuters. “Our independent and live solution will make a significant difference in enhancing the KYC due-diligence process. Working with Tradeweb is a true testament to our continued dedication to transform the way the industry approaches KYC due diligence with an innovative, secure and efficient solution.”