THOMSON REUTERS ACCELUS™ ACCELUS ORG ID FOR CLIENTS OF FINANCIAL INSTITUTIONS SECURE SERVICE SIMPLIFYING EXCHANGE OF INFORMATION WITH COUNTERPARTIES IN A SECURE ENVIRONMENT, SIMPLIFY THE EXCHANGE OF INFORMATION WITH YOUR FINANCIAL INSTITUTIONS USING AN INDEPENDENT, GLOBAL STANDARDS-BASED SERVICE. SUMMARY The on-boarding process between Financial Institutions (FIs) and their clients has become increasingly complicated as regulators around the world have implemented strict anti-money laundering (AML) regulations, which are being rigorously enforced. These regulations in addition to new ones such as FATCA, MiFID, EMIR, and Dodd-Frank, have made the requirements around client identity and Know Your Customer (KYC) information more onerous, with increased burden specifically placed on corporations, asset managers, hedge funds and correspondent banks. With significant banking transformation efforts underway, the entire industry is rethinking the approach to collecting, verifying, identifying the ultimate beneficial owner (UBO), screening and monitoring legal entities. The lack of a clear and standardized KYC policy has meant that different banks and broker dealers have interpreted regulations differently and as a result have often implemented slightly different policies for KYC on-boarding and refresh. For clients of financial institutions, this has translated into time consuming and duplicative processes, which impacts both operational efficiency and time to conduct business. There is also concern over the lack of data control, access and security with the current provision of client identity information. THE SOLUTION: ACCELUS ORG ID Accelus Org ID KYC Managed Service transforms the way the industry approaches KYC due diligence by delivering an end-to-end client identity collection, verification, identifying the UBO, screening and monitoring service in a secure, independent managed environment. The Service enables endclients to store, disseminate and authorize access to their client identity information through a secure web-based portal – eliminating the duplicative, time consuming processes around the provision of client identity information. The Service allows the end-client full control and visibility over who can access their information. Accelus Org ID will deliver to financial institutions a screened, validated and monitored real-time ‘KYC passport’ which makes it more efficient and quicker to open accounts and conduct business globally. The Service’s globally agreed KYC policy meets all the major AML regulations and satisfies 90% of account openings reducing the inconsistencies around what KYC documents are required. The portal is delivered free of charge to end-clients. ACCELUS ORG ID - WORKFLOW KYC GLOBAL POLICY AND STANDARDS — Driven by the first globally agreed KYC policy and control processes that satisfy 11 capital market regulations — Policy proactively responds to new requirements or modified regulations — Targets major regulations, including global and domestic AML regulations SECURITY — The portal is newly designed and built incorporating the latest security requisites — Single point of accountability for all FI and end-client data. — Data is safeguarded so only those you authorize can access COLLECT — Collects end-client’s identity information directly — Classifies the client and determines the risk sensitivity categorization — Powered by operationally proven KYC/ AML solutions that are already used by the industry END-CLIENTS (ASSET MANAGERS, HEDGE FUNDS, CORPORATES & CORRESPONDENT BANKS) — Provide client identity information to a secure web-based portal — Equivalent of a trusted real-time ‘KYC passport’ that represents a validated and screened identity of the end-client — Portal is delivered free of charge to endclients VERIFY & SCREEN — Experienced and global KYC analysts verify the end-client’s identity through the collection and validation of robust and independent documents and data — End-clients and all their related parties are screened against World-Check Risk Intelligence (Sanctions, PEP & adverse media) and risk indicators are identified. — Accelus Org ID will build the legal entity hierarchy to ascertain the ‘UBO’ (Ultimate Beneficial Owners) MONITOR — End-clients and all their related parties are automatically re-screened — Goes beyond re-screening: Identity monitoring highlights changes to core identity data such as ownership, directors, or country of operation, which may impact due diligence requirements — 12 or 36 month refresh of records that have not incurred “monitoring triggers” FINANCIAL INSTITUTIONS — One easy, secure and managed KYC environment — Benefit from access to data and documents which have already been requested by other members of the ‘community’ — Manages onboarding, remediation projects and refresh cycles eliminating cost and reducing risk of non compliance BENEFITS TO YOU COST BENEFITS – Providing your client identity information to Accelus Org ID is free of charge. Streamlining the on-boarding process allows you to focus your efforts on other activities. CONTROL OVER ACCESS – Permission-based access affords you full control and visibility over who can access and view your documents. SECURITY AND PRIVACY – The portal is newly designed and built with security as requisite. The single set of documents and clear audit trail enhance the security of your identity documents, specifically in terms of storage and dissemination. CONSISTENT & EFFICIENT – Our global KYC policy standardizes identity document requirements which provides consistency and eases the administrative burden, allowing your compliance staff to focus on other important issues. INDEPENDENT - 100% owned and operated by Thomson Reuters and driven by the demands of the industry not a particular financial institution. We’re the most trusted data provider to the regulators and regulated community. DOCUMENT EXCHANGE - Use the document exchange facility free of charge to store, maintain and share documents with selected institutions in a safe and secure environment. The facilities allow you to track who has seen your documents. OUR CAPABILITIES INFORMATION SECURITY: Due to the strictly confidential nature of the information managed through Thomson Reuters Accelus Org ID we have implemented information security controls and management systems across the key areas to keep information secure and in accordance with privacy and regulatory requirements. The Service covers everything from secure coding standards and penetration testing of our software and our data centers, through to secure working environments and monitoring within our operation centers. PROVEN KYC TECHNOLOGY AND CONTENT ASSETS: Accelus Org ID is designed, built and managed using Thomson Reuters leading KYC solutions including Accelus World-Check and Accelus Client On-Boarding (GoldTier). Accelus Org ID is the natural extension of Thomson Reuters commitment to deliver innovative industry solutions that reduce organization’s costs, workload and risk. COMPREHENSIVE KYC POLICY: Thomson Reuters operates the most comprehensive KYC policy in the market which satisfies 11 capital market regulations and proactively responds to new requirements or modified regulations. INDEPENDENCE: We have our own proprietary software, specifically designed to facilitate the KYC process. Accelus Org ID is self-funded, and solely responsible for the design, build and execution of the Service. Thomson Reuters has formed a community of ‘build partner banks’ and ‘end-clients’ to develop the Service and ensure it reflects the industry’s demands. SCALE AND GLOBAL FOOTPRINT: Thomson Reuters already has the requisite operational facilities to support this service. With capability in 240 countries and staff speaking over 60 languages in our support centers, Thomson Reuters has the resources and ability to deliver in a way that is unique within the industry. THOMSON REUTERS ACCELUS™ The Thomson Reuters Risk business delivers a comprehensive set of solutions designed to empower audit, risk and compliance professionals, business leaders and the Boards they serve, to reliably achieve business objectives, address uncertainty and act with integrity. Thomson Reuters Accelus connects business transactions, strategy and operations to the everchanging regulatory environment, enabling firms to manage business risk. A comprehensive platform, supported by a range of applications and trusted regulatory and risk intelligence data, Accelus brings together market-leading solutions for governance, risk and compliance management; global regulatory intelligence; financial crime; anti-bribery and corruption; enhanced due diligence; training and e-learning; and Board of Director and disclosure services. Thomson Reuters has been named as a category leader in the Chartis RiskTech Quadrant™ for Operational Risk Management Systems, a category leader in the Chartis RiskTech Quadrant™ for Enterprise Governance, Risk and Compliance Systems and has been positioned by Gartner, Inc. in its Leaders’ Quadrant of the “Enterprise Governance, Risk and Compliance Platforms Magic Quadrant.” Thomson Reuters was also awarded the Operational Risk Software Provider of the Year Award in the Operational Risk and Regulation Awards 2013 and again in 2014. For more information, contact Ana Arxer at [email protected] or visit ACCELUS.THOMSONREUTERS.COM/PRODUCTS/ACCELUS-ORG-ID © 2014 Thomson Reuters GRC00824/9-14