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| Tradeweb's use of Accelus Org ID will help enhance its KYC processes |
NEW YORK & LONDON, Oct 22, 2014 - (ACN Newswire) - Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that Tradeweb Europe, an affiliate of Thomson Reuters and a leading provider of electronic fixed income and derivatives marketplaces, has selected Thomson Reuters Accelus Org ID (Accelus Org ID) to complement its existing Know Your Customer (KYC) due diligence.
"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."
Earlier this year, Thomson Reuters launched Accelus Org ID, an end-to-end client identity service that collects, verifies, screens, determines ultimate beneficial owners, and monitors a legal entity for change. The managed service is used for client on-boarding, conducting remediations and refreshing existing portfolios to a global standard. The service enables the end-client to provide identity information through a secure web-based portal and authorize the distribution to their financial institutions. Accelus Org ID provides a real-time "KYC passport" which represents a validated and screened identity, whereby simplifying the account opening process needed to conduct business globally.
"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."
Thomson Reuters and Accelus Org ID recently won 'Best KYC and Client On-Boarding Solution' at the second annual Data Management Summit Awards 2014, hosted by A-Team Group. The annual Data Management Summit Awards recognize outstanding products and services in data management and are voted on by senior managers from financial institutions and readers of Reference Data Review.
Accelus Org ID is secure and easily integrates with financial institutions' existing internal systems. The service is centrally updated as new regulations come into effect and covers rules and regulations surrounding AML, FATCA, Dodd-Frank, EMIR and MiFID, supporting KYC compliance in the global capital markets.
For more information about Thomson Reuters Accelus Org ID, go to http://accelus.thomsonreuters.com/products/accelus-org-id
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to http://thomsonreuters.com/
Contacts:
Lem Brewster
Office +1-646-223-5147
Mobile +1-917-805-1089
Lemuel.brewster@thomsonreuters.com
Lauren Herman
Office +1-646-223-5985
Mobile +1-347-703-5913
lauren.herman@thomsonreuters.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thomson Reuters Corporation via Globenewswire
Topic: Press release summary
Source: Thomson Reuters
http://www.acnnewswire.com
From the Asia Corporate News Network
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