Thomson Reuters Onboards 3 European Asset Managers to its KYC Platform Org ID

Thomson Reuters Corp (TRI.TO) on Thursday reported that it has onboarded three European financial institutions serving the buy-side investment sector to its Org ID Know Your Customer (KYC) Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Read this Term) platform. The agreement covers the due diligence activities of on-boarding of clients, risk categorization and risk screening.

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Legal & General Investment Management, Candriam Investors Group and Fund Channel have spotted an opportunity to adopt Thomson Reuters’ managed service that would free them from the risky, resource-intensive task of complying with KYC Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, a key component of the AML regime.

Org ID service is intended to undertake all necessary due diligence checks on these institutions’ customers, gathering and verifying critical information, and maintaining and updating data in line with regulatory changes.

Thomson Reuters launched its Org ID KYC solution in 2014 to help financial firms meet their regulatory KYC requirements, whilst increasing efficiency and reducing costs. Following discussions with several watchdogs across major global markets, the solution was developed in partnership with key market participants including leading financial institutions, asset managers and hedge funds.

Dominic Mac, Head of KYC Industry Solutions at Thomson Reuters, commented: “It is most gratifying that these three world-class asset management institutions have selected our KYC managed service to address and fulfill their enhanced due diligence and related compliance needs. We are experiencing increased levels of participation from the buy-side in our solution in Europe and worldwide, notably since the recent acquisitions and integration of Clarient and Avox.”

Richard Lepere, Managing Director at Fund Channel, added: “We estimate that approximately 90 percent of our time had been spent on collecting documents and 10 percent on actually analyzing them. With the Thomson Reuters KYC managed service, we look to reverse this ratio of deployed activities by our team, while significantly reducing the overall time allocated to these critical responsibilities on our B2B distribution platform.”