Thomson Reuters today announced it is collaborating with Salesforce to help clients quickly and efficiently on-board new customers and meet regulatory anti-money laundering obligations in the fight against financial crime.
Thomson Reuters World-Check, one of the world’s leading databases of risk intelligence data to support companies in meeting their due-diligence obligations, can now be accessed by customers on the Salesforce AppExchange through the Thomson Reuters Customer Risk Screener Application.
Thomson Reuters is committed to providing its customers, which include global corporate and financial companies, with solutions to assist in the fight against financial crime. The Customer Risk Screener Application is designed to drive improved workflow and will help clients more efficiently on-board and manage customer screening in one of the world’s leading CRM platforms. It will be accessible through Salesforce Sales Cloud, Financial Service Cloud and Service Cloud.
“Financial crime is one of the scourges of modern day society, and is linked to some of the world’s biggest problems such as forced prostitution, slavery and drug trafficking. The ‘Know Your Customer’ regulations are designed to help companies identify potential financial crime, and penalties for KYC failure are severe, including prosecution, substantial fines and ongoing regulatory oversight, not to mention reputational and brand value damage,” said Debra Walton, managing director, customer proposition, Financial & Risk, Thomson Reuters. “By working with Salesforce, we will help mutual customers in the ongoing fight against financial crime through our Customer Risk Screener Application. The application will simplify and accelerate the customer due diligence process and connect client account records, reducing significant manual requirements. This approach reduces costs and improves the overall experience for our customers and their clients.”
“Technology is key in helping companies adapt to a changing regulatory landscape,” said Rohit Mahna, SVP and GM of Financial Services, Salesforce. “By leveraging the power of the Salesforce Platform, Thomson Reuters will provide customers with innovative ways to readily connect information, and manage the risk and complexity of client screening, not just at on-boarding, but throughout every stage of the relationship cycle, all the way from prospective to repeat customers."