Information services provider Thomson Reuters said that its Tradeweb Europe affiliate, a leading provider of electronic fixed income and derivatives marketplaces, will use the group’s 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,” said Anna Mazzone, head of KYC managed services at Thomson Reuters.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.