22 January 2017
visit http://www.wolterskluwerfs.com

CounterpartyLink and RDC partner on legal entity due diligence processes

13 March 2014  |  854 views  |  0 Source: CounterpartyLink

CounterpartyLink (CPL), the leading source of evidence-based legal entity intelligence, today announced that it has partnered with RDC, the global leader in risk intelligence and compliance services, to help financial institutions strengthen, simplify and shorten due diligence workflow and processes; protect against reputation damage; and reinforce customers' compliance programs.

CPL's evidence-based legal entity information combined with RDC's decision-ready intelligence and world-class risk and compliance data will enhance financial institutions' existing compliance programs ensuring: Anti-Money Laundering (AML)/Know Your Customer (KYC) compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring.

RDC, which houses the world's largest database of risk relevant records compiled from open-source information, is offered through CPL's leading legal entity intelligence service. This enhanced service provides immediate access to hierarchical structures - across jurisdictions - flagging banned or suspect entities, strengthening fraud protection and offering best-in-class due diligence.

"Our collaboration with RDC is another example of CounterpartyLink's ongoing commitment towards adopting and sustaining industry standards across the entire global legal entity data industry." said James Redfern, Managing Director, CounterpartyLink. "Collecting, validating, maintaining and delivering up-to-date information on entities and directors, and performing due diligence checks are time-consuming and duplicative tasks for financial institutions," says Redfern. "By adding RDC's comprehensive database, customer on-boarding is more agile and the high costs associated with implementing anti-money laundering regulations are reduced."

Financial institutions are continually pressured to improve efficiencies whilst gaining compliance with regulatory standards. CPL delivers the industry's leading evidence-based, legal entity intelligence, and is further helping institutions around the world to meet with ongoing regulatory and customer demands through sanctions screening.

"Proactive screening and monitoring of legal entity data is paramount in today's regulatory environment." said Rupert de Ruig, Managing Dir Director, EMEA & APAC, RDC. "Combining CounterpartyLink's information with RDC's global risk-relevant database will ensure financial institutions meet AML & KYC regulatory requirements and are alerted to potential commercial or reputational risk".

Established in 2005, CounterpartyLink reflects a vast experience in the legal entity data industry. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit wavestone.co.ukVisit contisgroup.com

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16888 views comments | 95 tweets | 113 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
13054 views comments | 48 tweets | 44 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11209 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
8207 views comments | 46 tweets | 42 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6676 views comments | 22 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job