Financial market data platform has expanded its financial crime solution tool suite into the wealth management and retail banking space.
The move into the wealth and advisory segments is set to expand Refinitiv’s World-Check Risk Intelligence solution.
Its services will help wealth managers simplify their day-to-day risk management, onboarding, and monitoring decisions. It can do this by leveraging its AI and cloud computing services as well as its data and KYC tools, such as world-check and media check.
Refinitiv delivers accurate risk intelligence to help corporates and financial institutions comply with regulatory obligations and risk management procedures as well as detect and prevent financial crime. Its World-Check solution uses AI and machine learning technology to ease the daily onboarding and monitoring tasks.
Refinitiv managing director Phil Cotter said, “Today’s investors have high expectations, demanding an increasingly digitally-enabled personal relationship with instant access to accounts and information on the go, while expecting a frictionless onboarding experience and speed of updates.
“We are in unique position to help the industry meet these demands and at the same time comply with rapidly changing anti-money laundering KYC regulations.”
This new service launch has come hot off the heels a new partnership Refinitiv formed with digital identity platform Trulioo. The deal enables the companies to offer financial institutions tools to ease their AML and KYC processes, lowering fraud and financial crime incidents.
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