September 28, 2015
Thomson Reuters Receives Two 2015 GRC Technology Innovation Awards for Solutions in ‘Strategy & Performance Management’ for Thomson Reuters Valuation Navigator and in ‘Third Party Management’ for Thomson Reuters World-Check One
NEW YORK – Thomson Reuters today announced that two of its newest solutions serving distinct Risk markets – Thomson Reuters Valuation Navigator and Thomson Reuters World-Check One – have been honored, respectively, with 2015 GRC Innovation Awards in “Strategy & Performance Management” and in “Third Party Management” by GRC analyst firm GRC 20/20. The 4th annual GRC Innovation Awards recognize technology innovations and user experience in Governance, Risk Management and Compliance programs and processes.
The 2015 GRC Innovation Awards process recognizes the latest evolution in technology and represents the most competitive pool of nominations to date. GRC 20/20 analysts closely evaluated all of the 119 applicants across fifteen solution categories and selected recipients to receive this honor whose solutions show they are thinking out of the box and taking GRC in new technology directions.
Thomson Reuters Valuation Navigator is a software solution for rapid automation and customization of reference data and pricing workflows that is designed to enable back-, middle- and front-office teams to analyze and easily search across a wide range of complex data sources, compare multiple pricing options and optimize valuation and risk activities. Using high-performance search technology and pre-built modules, Thomson Reuters Valuation Navigator makes market and position data more transparent for valuation and risk processes reducing errors and enhancing insight for the entire organization.
Thomson Reuters World-Check One is a risk management solution designed to help organizations during the Know-Your-Customer (KYC) client on-boarding process, ongoing monitoring, and rescreening cycles. With features such as auto-resolution of matches, batch screening, enhanced name-matching capabilities, among others, the solution simplifies and accelerates the third party risk management process. Thomson Reuters World-Check One simplifies screening for anti-money laundering, sanctions, organized crime and threat finance, as well as providing detailed monitoring of Politically Exposed Person (PEP) relationships, enabling organizations to screen for a variety of compliance obligations and manage third party risk.
GRC 20/20 is the authority in understanding how organizations implement GRC practices that are effective, efficient and agile. Through independent research and industry interaction, GRC 20/20 advises the entire ecosystem of GRC roles within organizations, technology and knowledge solution providers, and professional service firms. Organizations engage GRC 20/20 when they need insight, guidance and advice in dealing with a dizzying array of disruptive issues, challenges, processes, information and technologies while trying to maintain control of a distributed and dynamic business environment.
On Thomson Reuters Valuation Navigator’s 2015 GRC Award for Innovation in Strategy & Performance Management, Michael Rasmussen, Chief GRC Pundit for GRC 20/20, said: “Financial services organizations require complete situational and holistic awareness of market data and positions across the organization to see the big picture and its impact on pricing, performance and strategy. Most financial services organizations have access to market data that is adequate to support their operations, but they still struggle with market, valuation, and pricing data when it comes to transparency, accessibility, and audit support activities. Thomson Reuters Valuation Navigator collects scattered financial data into a single, searchable repository; supports a building-block approach to modeling; is extensible for complex workflows; and enables shared insight across your entire organization. Their unique approach makes organizations more efficient, effective, and agile in gathering distributed sets of data and presenting it that replaces manual processes built on spreadsheets and time.”
On Thomson Reuters World-Check One’s 2015 GRC Award for Innovation in Third Party Management, Mr. Rasmussen said, “The modern organization is an interconnected mess of relationships and interactions that span traditional business boundaries. Layers of relationships go beyond traditional employees to include customers, suppliers, vendors, outsourcers, service providers, contractors, subcontractors, consultants, temporary workers, agents, brokers, intermediaries, and more. An organization can face reputation and economic disaster by establishing or maintaining the wrong business relationships, or by allowing good business relationships to sour because of weak governance of the relationship. Thomson Reuters World-Check One demonstrates a compelling offering for managing an integrated process for third party due diligence to meet a range of risk and regulatory areas. The unique approach helps make organizations more efficient, effective, and agile in managing a range of due diligence concerns in a single integrated portal. Thomson Reuters World-Check One has a range of innovative features that enable customers to apply a risk-based approach to due diligence and customize screening policies to mitigate risk in an efficient, effective, and agile approach. GRC 20/20 finds that Thomson Reuters World-Check One clients save significant amounts of time and money in staff resources and operating costs while leveraging the benefits of Thomson Reuters World-Check risk intelligence data with extensive global research.”
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