Thomson Reuters has expanded its identity verification process — CLEAR ID Confirm — to include business and organizational data.
As part of the CLEAR online investigations suite, CLEAR ID Confirm leverages comprehensive, up-to-date public and proprietary data to enable organizations to complete identity verification tasks, including risk evaluation and business vetting. The product is tailored for banking/financial, insurance, retail/e-commerce and government sectors for anti-money laundering (AML), onboarding, compliance and fraud mitigation.
In addition to public records data through CLEAR and Batch, users can access worldwide international business content from more than 34 million records that have been added to its Business Profile collection. CLEAR ID Confirm also has bolstered its Federal Employer Identification Number (FEIN) data, which includes records for tens of millions of businesses and organizations.
With system-to-system API integration, CLEAR ID Confirm enables users to integrate both real-time business and individual verification data into their existing workflow. And with additional system-to-system automation features, users can conduct ongoing compliance and due diligence without the need to exhaust time and resources on searches.
“With the data security landscape increasingly thrown into sharp contrast, it has become more crucial for entities to know who they are doing business with in order to stay compliant with dynamic anti-money laundering regulations and standards,” said Mark Haddad, vice president of the Corporate segment for Thomson Reuters. “CLEAR ID Confirm complements Thomson Reuters existing suite of risk solutions to enable organizations, including government agencies faced with tighter budgets and fewer resources, to improve program integrity, identify high-risk subjects, and mitigate fraud, waste and abuse.”
The addition of business and organization information to CLEAR ID Confirm marks an expansion from its initial offering that launched earlier this year and focused on data verification of an individual’s online identity, payee identity and customer identity.
For more information on CLEAR ID Confirm, visit legalsolutions.com/CLEAR-id-confirm.
Source: Thomson Reuters Press Release