Compliance iStock_000033418316SmallCorrespondent banks, corporates, asset managers and hedge funds can now access a secure portal to share identity documents, accelerate on-boarding, and streamline the KYC process

Thomson Reuters has delivered a critical milestone in its end-to-end KYC Managed Service for the industry, with the launch of its secure, web-based portal for Accelus Org ID.

The new online portal facilitates client on-boarding, identity collection, and verification, in a secure environment which allows financial institutions and their clients to increase efficiency, as well as reduce operating and remediation costs associated with complying with increasingly rigorous Know Your Customer (KYC) requirements.

Following the launch in March 2014, the portal is now active with an intuitive user interface that allows clients of Accelus Org ID to easily complete the KYC process, accelerate on-boarding, and share identity documents effectively. The portal is delivered free of charge to clients of financial institutions, including asset managers, hedge funds, corporations, and correspondent banks, who can sign up to access the portal at Accelus Org ID.

Accelus Org ID acts as a neutral ‘central clearing house’ by building an accurate identity record, which works as a globally-recognized KYC ‘passport’, and provides the ability to screen for money laundering risk characteristics, negative news flow and/or sanctions issues. All record processing on the Accelus Org ID portal is in accordance with a global standard policy. The clients of financial institutions submit a single set of identity documents to Accelus Org ID and can authorize their financial institutions to access this information.

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