Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that Amundi, the leading European asset manager, ranking among the world's top 10, has selected Thomson Reuters Accelus Org ID (Accelus Org ID) KYC Managed Service platform to streamline the exchange of information with its financial counterparties.
The selection of Accelus Org ID by Amundi is a testament to Thomson Reuters commitment to build its community with the buy-side, including top asset management firms. The agreement further demonstrates that buy-side clients trust Thomson Reuters to develop innovative solutions that reduce the burden of regulatory reporting while accelerating their ability to conduct global business.
"We have chosen Thomson Reuters Accelus Org ID, as we believe it is one of the best solutions available on the market," said Jean-Francois Poulnais, global head of Data Management at Amundi. "As the industry evolves, more and more we need trusted partners that can help us meet our regulatory requirements."
In March 2014, Thomson Reuters launched Accelus Org ID, an end-to-end client identity service that collects, verifies, screens, determines ultimate beneficial owners, and monitors a legal entity for change. The managed service is used for client on-boarding, conducting remediations and refreshing existing portfolios to a global standard. The service enables the end-client to provide identity information through a secure web-based portal and authorize the distribution to their financial institutions. Accelus Org ID provides a real-time "KYC passport" which represents a validated and screened entity, thereby simplifying the account opening process needed to conduct business globally.
"We are extremely pleased to be working with Amundi to simplify and streamline their operational processes by providing their client identity information over one secure, web-based portal and authorizing the distribution to their financial institutions at no cost to Amundi," said Anna Mazzone, head of KYC Managed Services at Thomson Reuters. "Our vision in working with Amundi is to continue to streamline the exchange of documents between financial counterparties, standardize the documents required for KYC due diligence, and allow clients full control and visibility over who can access and view their documents."
Thomson Reuters and Accelus Org ID recently won 'Best KYC and Client On-Boarding Solution' at the second annual Data Management Summit Awards 2014, hosted by A-Team Group. The annual Data Management Summit Awards recognize outstanding products and services in data management and are voted on by senior managers from financial institutions and readers of Reference Data Review.