- Know Your Customer (KYC)
Determining who you can and should do business with has significant cost, time, and resource implications for financial institutions. According to our recent KYC compliance survey, average annual spend on global KYC is reported as US$48 million and onboarding times remain lengthy, with banks reporting average times of 30 days.
Relying on a patchwork of resources may leave potential gaps in coverage where bad players can hide while putting your revenue and reputation at risk from regulators.
Perform KYC due diligence your way, when you choose, from a range of services and solutions that span the entire client identity process, enabling you to focus time, talent, and resources on your core business activities. We offer innovative technology along with world-class data that gives you the flexibility to scale your KYC programs to meet your evolving needs.
As regulation grows and as the need for more KYC and due diligence increases, there will be new competitors coming into the landscape, but to date Thomson Reuters [Refinitiv] is still at the forefront with their product.
We have 100s of analysts worldwide who use credible sources, including 600+ sanction, watch, regulatory, and law enforcement lists, government records and country-specific data sources.
From point solutions to fully managed KYC service, you can choose the model you need – all powered by innovative technology combined with world-class, trusted data.
We help build solid foundations - access critical risk intelligence through our enterprise business and via our partners.
50% of the FIs surveyed expect the time to onboard to increase in the 12 months post-survey.
Leave nothing to chance.
Enhanced Due Diligence delivers detailed background checks on any entity or individual, anywhere in the world. Our research provides comprehensive and well-structured reports so you can identify key issues relating to bribery, corruption, and financial crime, among others. Protect against regulatory and reputational damage. Leave nothing to chance.
I don’t think there is another player that can do this as well as Thomson Reuters [Refinitiv].
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