Stifel Nicolaus Europe chooses Thomson Reuters Org ID KYC Managed Service

Source: Thomson Reuters

Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that Stifel Nicolaus Europe, a premier investment management firm, has chosen Thomson Reuters Org ID KYC Managed Service to streamline Stifel’s Know Your Customer (KYC) process. The engagement commences this month.

Stifel Nicolaus Europe will be using the 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.

“It is a distinct pleasure -- and another milestone after one year of service -- for Stifel Nicolaus Europe to have placed their trust in Org ID to support their client on-boarding,” said Steve Pulley, managing director – client on-boarding and KYC solutions at Thomson Reuters. “We look forward to helping them meet their compliance needs and enhancing the service they offer their customers, as their global presence grows.”

The agreement with Stifel Nicolaus Europe is the latest in a series of engagements involving the selection of Org ID by leading investment management firms. It also follows Thomson Reuters Org ID recently becoming 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. It demonstrates trust in Thomson Reuters to develop innovative solutions for the market that reduce the burden of regulatory compliance, while accelerating the ability to conduct global business with confidence.

In March 2014, Thomson Reuters formally started processing records in 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, enhancing and refreshing existing portfolios to a global standard. The service facilitates the exchange of identity information through a secure web-based portal and streamlines the distribution of documentation to financial institutions. Thomson Reuters Org ID provides a "KYC passport" which represents a validated and screened entity, thereby simplifying and accelerating the account opening process needed to conduct business globally.

Thomson Reuters Org ID is earning increased recognition from the financial services industry. Peers voting for the 2015 FTF News Technology Innovation Awards selected Org ID to receive two FTF Excellence Awards -- in the categories of ‘Best Operational Risk Management Solution’ and ‘Best AML/Anti-Fraud Solution’. Also, at the second annual Data Management Summit Awards 2014, hosted by A-Team Group, senior managers from financial institutions and readers of Reference Data Review chose Thomson Reuters Org ID as ‘Best KYC and Client On-Boarding Solution’. 

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