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LexisNexis® Risk Solutions Launches Enhanced Due Diligence Platform (EDD)

LexisNexis® Risk Solutions announced the launch of its enhanced due diligence (EDD) platform, LexisNexis® EDD Insight. The web-based research platform has been designed to help professionals who are responsible for financial crime compliance conduct effective investigations and due diligence, whilst reducing process inefficiencies. The new product was developed after feedback from customers, across a variety of industries, revealed the negative ... Read More »

FactSet Integrates KIDs for PRIIPs Solution with the Avaloq Banking Suite, Helping Clients with Regulatory Compliance

Banking software and service provider Avaloq and FactSet, a global provider of integrated financial information, analytical applications, and industry-leading services, have announced that they have formed a strategic alliance to help clients comply with Packaged Retail and Insurance-based Investment Products (PRIIPs) requirements. Through a software integration, Avaloq clients can now use a standard adapter via the Avaloq Banking Suite to ... Read More »

The Hidden World of Beneficial Ownership

One of the most challenging tasks for due diligence teams on the lookout for connections to money laundering, bribery, corruption is to uncover the identities of ultimate beneficial owners of entities, properties, and third-party business partners. The job of understanding who companies, and financial services organisations in particular, are doing business with has been made all the more difficult by ... Read More »

KYC & AML Compliance Gets a Boost by Covering 2 Billion Relationships

Thomson Reuters has launched an industry-first graph of the relationships between people, organisations and metadata that allows financial services clients to understand over 2 billion connections within the financial ecosystem. Using big data management techniques and machine learning, Knowledge Graph can be embedded into information systems to support search and discovery of links between individuals, entities and taxonomies. “The largest ... Read More »

Inefficient KYC Processes and their Negative Consequences

LexisNexis® Risk Solutions Research Shows Over Two-Thirds of Financial Institutions Are Losing Business Due to Inefficient K Y C Processes 54% of professionals in large financial institutions state that there are inefficiencies in their current Know Your Customer (KYC) and Sanctions alert remediation processes Over two-thirds (70%) of those with less efficient processes cited missing out on business due to ... Read More »

Thomson Reuters Q3 2017 Revenues up 2%

Thomson Reuters Q3 2017 Revenues Up 2%, Operating Profits Up 21% Thomson Reuters Q3 2017 revenues were US $ 2,792 million up 2% om constant currency.  Operating income was US$ 467 million up 21%.  Diluted EPS (including discontinuing operations) was $.46 up 28%. “It is gratifying to see that the progress we have made over the last several years is ... Read More »

Compliance: Introducing encompass Remediate

As we have covered extensively, regulated businesses face mounting pressures in their onboarding of new customers. The changing requirements as dictated by EU and UK law have made processes more expensive, arduous and complex. For banks and financial services firms however, the new customer onboarding scenario is only half the story. Once customers have been successfully onboarded, there is still ... Read More »

Compliance: Effectiveness of Managing Third-party Risks Worsening

Opus & Ponemon Institute Announce Results of 2017 Third Party Data Risk Study: 56% of Companies Experienced Data Breach, Yet Only 17% are Prepared to Mitigate Risk Effectiveness of managing third-party risks worsening – companies cite inability to track, evaluate third party security and privacy Opus, the leading provider of global compliance and risk management solutions, today announced the results ... Read More »

How to Combat Non-compliance with Corporate Travel Programs

How Mobile Solutions May Help Address Slipping Corporate Travel Policy Compliance Sabre Corporation has published the results of its “2017 Asia Pacific Corporate Traveler Study,” identifying two major trends driving business travel in the region: an increased emphasis on mobility and a growing concern over non-compliance. The company surveyed corporate travel professionals across 19 markets in the Asia Pacific region, ... Read More »

Thomson Reuters and Deloitte Join Forces to Automate Financial Reporting and Compliance for Australian Corporations

Thomson Reuters unveiled a new collaboration today which will see Deloitte become an implementer for Thomson Reuters market-leading ONESOURCE Statutory Reporting software to assist finance departments streamline financial reporting processes, helping them to save time, improve accuracy and remain compliant. The collaboration is an extension of Thomson Reuters expanding global relationship with Deloitte and a first of its kind in ... Read More »

Fortis Insolvency Selects encompass verify

Business and personal insolvency experts, Fortis Insolvency, has selected encompass verify to support and enhance their Know Your Customer (KYC) compliance processes. Manchester based Fortis Insolvency provide advice and support to business and individuals across the north-west who may be facing financial and operational issues.  The only provider of simultaneous, real-time access to multiple sources of global company and person data, encompass is the creator of KYC ... Read More »

Law Society’s Money Laundering Task Force Chair to Advise encompass

encompass has appointed Amy Bell, of Amy Bell Compliance, as industry advisor to advise on encompass verify, next generation AML and KYC software for legal and accountancy. Chair of the Law Society’s Money Laundering Task Force, Amy worked for many years as a solicitor before moving into compliance and eventually launching her own firm. A leading figure helping law firms adapt to the ... Read More »

Encompass Appoints Jon May and Yasmeen Jaffer as Industry Advisors

Encompass has appointed Jon May, former CEO of market leading KYC utility, kyc.com and global head of Regulatory and Compliance Managed Services at IHS Markit, and Yasmeen Jaffer, former Managing Director and Global Head of Business Development at IHS Markit, as industry advisers. Jon is currently CEO, and Yasmeen, Partner, of the KYC, Regulatory and Compliance FinTech firm, JJCFinTech. During his time as ... Read More »

TruNarrative Continues Commitment to Asian region with Hong Kong Office

TruNarrative, a global provider of fraud, identity and compliance solutions, continues its growth in Asia with confirmation of entity and office set-up in Hong Kong. The office is located in the Cyberport development in Hong Kong, home to over 900 digital technology companies. This follows hot on the heels of the opening of the Singapore entity and office. TruNarrative will serve many ... Read More »