Thomson Reuters, an information company, reports that the venerable Stifel Nicolaus Europe investment management firm has picked the Org ID KYC managed service to streamline Stifel’s know-your-customer (KYC) process.
Specifically, Stifel Nicolaus Europe will be using the Thomson Reuters Org ID service to “onboard their European legal entities. The adoption of the Org ID global standardized KYC solution will help further streamline the due diligence process, which encompasses screening, verifying and unwrapping legal entities structures to facilitate client on-boarding and account opening.”
Thomson Reuters Org ID recently became the “first and only KYC managed services provider to complete successfully an ISAE 3000 Type 1 audit, conducted by PwC, in relation to the design of and adherence to internal processes, controls and compliance policy,” the company says, also pointing out that investment manager BlackRock also recently signed on for the onboarding service as well.
Thomson Reuters calls Org ID an “end-to-end client identity service that collects, verifies, screens, determines ultimate beneficial owners, and monitors a legal entity for change,” and “provides a ‘KYC passport’ which represents a validated and screened entity, thereby simplifying and accelerating the account opening process needed to conduct business globally.”
Steve Pulley, the vendor’s managing director – client on-boarding and KYC solutions, calls the Stifel agreement “another milestone after one year of service.”
Need a Reprint?
Leave a Reply