Source: Thomson Reuters
Thomson Reuters has launched CLEAR® Risk InformTM, a new product to improve the risk-analysis process for organizations and the first risk-scoring solution to bring together analysis and public records with customizable definitions.
CLEAR Risk Inform was developed in collaboration with industry experts in banking, finance, insurance, healthcare, provider enrollment and vendor management organizations. These industries have thresholds aimed to minimize fraud, waste and abuse when exploring whether to conduct business with a prospective entity. CLEAR Risk Inform allows organizations to create an institutionalized risk assessment from public data.
CLEAR Risk Inform enables organizations to:
Maintain compliance with anti-fraud and anti-money laundering regulations
Customize criteria to establish scoring rules that best reflect the organization’s level of acceptable risk
Create efficiency by focusing on high-risk reviews
Build on the organization’s current information
“Thomson Reuters CLEAR Risk Inform is the easiest way to analyze crucial information about people and businesses, their affiliations, assets and more from a vast collection of public and proprietary records,” said Kevin Appold, U.S. Public Records Lead for Thomson Reuters. “Through the customization made possible by CLEAR Risk Inform, an organization can establish its own risk level by assigning certain scores for various risk factors, creating a repeatable risk analysis that is not influenced by human bias or human error and improves efficiency through a tailored workflow.”
CLEAR Risk Inform can provide risk assessments that include an array of legal offenses including counterfeiting, identity theft, fraud, money laundering and more. And Thomson Reuters attorney editors have coded and organized content into a system where users can focus on serious offenses and avoid irrelevant results.
“Thomson Reuters has analyzed data for more than 100 years, and we have taken criminal records from across state and federal jurisdictions, enhanced with our proprietary data, to deliver information needed to assess risk in a way everyone can understand and make decisions with greater confidence,” said Appold. “With hundreds of interactive risk flags, analysts can view flagged records for further evaluation.”