Best outsourcing provider: Thomson Reuters

Operational Risk Awards 2017: Wide-ranging KYC operation – Org ID – promises cost savings for clients

OpRisk Awards 2017

Gone are the days when financial institutions could get by with a hazy understanding of their customers and the securities they traded. In today’s financial markets, know-your-customer (KYC) has become one of the most time-consuming and costly burdens on large institutions, to the extent that many have chosen to outsource the entire process.

Thomson Reuters believes it can deliver cost savings of up to 40% in this area. Its KYC offering, Thomson Reuters Org ID, is designed to simplify and

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