New Thomson Reuters Marketplace Selects iComplyKYC as a Digital Identity and KYC Partner
Thomson Reuters has launched its Marketplace, featuring a curated selection of software solutions for law firms, corporate law offices, and tax and accounting professionals
Vancouver, B.C. – April 27, 2021 – iComply Investor Services (“iComply”), a global compliance software provider, is announcing that the company has partnered with Thomson Reuters to distribute its iComplyKYC platform through the Thomson Reuters Marketplace.
iComplyKYC gives businesses access to a turnkey, world-class know your customer (KYC), anti-money laundering (AML), and identity access management (IAM) solution that can be quickly embedded into any digital experience.
The Thomson Reuters Marketplace is an online store that showcases a wide range of solutions offered by Thomson Reuters, as well as its trusted and tested vendors such as iComply.
“With the pandemic driving business more online, financial processes that used to require face-to-face interaction are becoming digital,” said Matthew Unger, CEO of iComply. “The internet was developed to transfer information and so the policies of user identification and identity access management have followed internet industry standards. As more banks digitize, new fintechs emerge, and major tech companies enter financial services, these internet standards fall short of the regulatory requirements. iComplyKYC solves this by combining “banking grade” KYC portals with your existing identity access management, single sign-on, or digital identity management solutions.”
Existing digital solutions force users to submit their most personal details into a web form for user identification or authentication, with API-based solutions relaying this information to third-party data processors and sub-processors that are often international and could retain control of the data. Other existing alternatives to these API-based solutions require significant resources to implement and maintain, such as custom software development.
“iComplyKYC helps businesses securely and digitally collect, verify, screen, and maintain data and documents for both natural persons and legal entities,” said Matthew Unger, CEO of iComply Investor Services.
“Unlike existing digital KYC solutions, the platform uses edge computing and artificial intelligence to process sensitive user data locally, before it leaves the user’s device, which helps organizations comply with local data privacy laws across jurisdictions.”
iComplyKYC is a next-generation, web3 ready, KYC solution that is built from the ground up to support true data privacy and can be deployed within minutes. All of this is designed to save clients money on implementation and ongoing maintenance while allowing operations teams to gain a 360-degree view of identity resolution, KYC and AML compliance, and ongoing access management.
##
About iComply Investor Services Inc.
iComply Investor Services Inc. (“iComply”) is a global compliance software provider that helps businesses reduce the cost and complexity of user authentication KYC and AML operations while providing a seamless experience to their users. iComplyKYC allows operations teams to centrally control how each KYC portal will securely gather, validate, and encrypt client data and documentation before it leaves their device. By partnering with multinational technology vendors such as Microsoft, DocuSign, Thomson Reuters, and Refinitiv, iComply is bringing compliance teams into the digital age. Learn more: www.icomplyis.com
Implementing Client Due Diligence in Credit Unions: Protecting Members and Ensuring Compliance
The evolving financial and political climate of 2023 and a post-pandemic market have left financial institutions and credit unions facing unique challenges as they navigate the new and growing risks associated with conducting business in an increasingly digital world....
Safeguarding Society: How Customer Due Diligence Helps Prevent Global Crime
With the economy facing increasingly challenging times and banking institutions having to contend with a sharp increase in digital users over the past few years, the threat of cybercrime, specifically in the financial sector, is at an all-time high. At its core, the...
Understanding the Distinction of CDD vs. EDD in AML Compliance
Understanding the Distinction of CDD vs. EDD in AML Compliance As cybercrime continues to aggressively expand and pose new challenges to regulators and law enforcement agencies across the globe, anti-money laundering (AML) efforts have become vital to protecting the...