The South African KYC Service
Simplifies the collection and distribution of KYC information for juristic entities in South Africa. Large corporations, hedge funds, asset managers, and others can use this service as an efficient, centralized solution to distribute KYC documents and information to multiple financial institutions, through a secure and free-of-charge web-based portal.
Rise to the challenge of regulatory demands
The number and complexity of regulations will continue to grow. Let us take the strain.
KYC as a Service provides you with a secure, efficient, and streamlined approach to managing the ever-increasing burden of regulatory compliance, at no cost - an approach that simplifies the complexity you deal with on a daily basis.
If your organisation performs client due diligence
The South African KYC Service delivers an end-to-end KYC managed service, giving your operations team a standardised KYC policy and consistent due diligence process.
- Have confidence that your clients have been identified, verified, categorised, screened, are continuously monitored, and that your KYC records are in place and up-to-date.
- Our dedicated KYC teams proactively monitor the legal entity and alert you to any changes that could be risky to your business.
- Implement a standardised policy, creating a consistent due diligence process and consistent document requirements.
- Enhance operational efficiency and ease the administrative burden on your team – while we manage your KYC process.
- Reduce the escalating costs associated with the ever-increasing burden of KYC compliance.
Features & benefits
Powered by KYC as a Service
ISAE 3000 assurance over design and operational effectiveness of internal controls audited independently by PwC.
UK data centers subject to European Data Privacy laws.
Built upon best-in-class risk solutions with screening and monitoring across 190+ countries, 400+ sanctions and watchlists, and 100,000+ media sources.
Permanent reference identifier which distinctively connects data to verify and monitor client identity.
Operational since 2014 with over 125,000 KYC records for financial institutions and corporates already committed by Q1 2016.
Named Best Managed/Support Services Provider: Operational and Risk Regulation Awards 2015.
Streamline account opening and ongoing maintenance
|Upload once. Share with many.
||Centralise your KYC process and eliminate the duplicative work required to provide separate due diligence documents to each of your financial institutions and counterparties by storing KYC documentation in a single, secure, web-based portal.
|Maintain one set of documents. Reduce both workload and document duplication.
||The South African KYC Service simplifies the process of updating and informing multiple institutions through a secure, centralised storage and distribution portal.
|Faster time to trade. With no cost implications.
||Streamline the distribution of your KYC documentation to authorised recipients at no cost – saving you valuable time and the increasing cost of resource you need to respond to multiple, varied due diligence requests.
|Be confident. You’ve got it covered.
||Know your responsibility, and that the information you have provided ensures your financial institutions have everything they need to ‘know their customer’.|
Have complete control of who sees what, when
|Keep confidential information – strictly confidential.
||Have complete control over who can access and view your documents externally – and also within your own organisation. Share your information securely.
|Grant access and track activity.
||Only you can grant permission to access your documents. Once authorised, the audit trail capabilities of KYC as a Service give you complete visibility of who has accessed which documents – and when.
|Best-in-class technology, validated by the industry.
||From secure coding standards, to penetration testing of our software and data centres, and from secure working environments to the constant monitoring of our operation centres – with Thomson Reuters expertise and experience we ensure your data security is our top priority.
|Independent. Known for our integrity, diligence and information security.
||KYC as a Service is 100% owned by Thomson Reuters. We will not use your data, or share your information with anyone.
|Customised data management model. Connecting information on your organisation.
||At the core of the South African KYC Service is the Permanent Identifier (PermID). This gives every piece of information a unique number that won’t change over time enabling you to connect information on your organisation across the Thomson Reuters landscape.
Find out more
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