Press release

Refinitiv Expands Digital KYC Solutions to Retail Banking and Wealth Management

Sponsored by Businesswire

Refinitiv is set to expand its suite of financial crime solutions into
the wealth industry as increased scrutiny from regulators and the demand
for a more frictionless client experience from investors drive the need
for more digital Know-Your-Customer (KYC) and onboarding processes.

The push into the Wealth and Advisory segments is set to expand on
Refinitiv’s World-Check Risk Intelligence and the company’s expertise in
delivering trusted data into client workflows using the cloud and API

Traditional wealth onboarding is paper centric and cumbersome, new
technologies offer opportunities to streamline this process, while
improving the customer experience and decreasing risk.

“Today’s investors have high expectations, demanding an increasingly
digitally-enabled personal relationship with instant access to accounts
and information on the go, while expecting a frictionless onboarding
experience and speed of updates,” said Phil Cotter, Managing Director of
the Risk business at Refinitiv. “We are in unique position to help the
industry meet these demands and at the same time comply with rapidly
changing anti-money laundering KYC regulations.”

Refinitiv will help Wealth Managers to simplify their day-to-day risk
management, onboarding and monitoring decisions through the latest
innovations in AI and cloud computing, combined with its market leading
data and KYC solutions such as World-Check and Media Check.

“KYC is at the heart of protecting both the client and the wealth
advisor,” said Joseph Mrak Global Head of Wealth for Refinitiv. “At
Refinitiv we are excited to offer a quick and best in class process to
our advisor desktop to address evolving KYC needs and regulation.”

The expansion into new market segments follows the company’s recent
string of partnerships, which have enabled it to expand its KYC and due
diligence solutions further into retail, wealth and private banking

Refinitiv announced on June 4th that it is partnering
with Trulioo
to deploy advanced digital identity verification and
biometric technology to help financial services firms reduce fraud and
financial crime by verifying billions of customers online. Trulioo
operates a Digital Identity Network that provides instant access to over
400 procured, vetted, and trusted data sources around the world.

Refinitiv has extensive experience supporting Wealth Management firms
through its Wealth
Management solutions
which provide seamless integration across
front, middle, and back office workflows.

About Refinitiv
Refinitiv is one of the world’s largest
providers of financial markets data and infrastructure, serving over
40,000 institutions in over 190 countries. It provides leading data and
insights, trading platforms, and open data and technology platforms that
connect a thriving global financial markets community – driving
performance in trading, investment, wealth management, regulatory
compliance, market data management, enterprise risk and fighting
financial crime. For more information, visit: