March 28, 2018
Thomson Reuters collaborates with Salesforce to help customers step up the fight against financial crime
Integration of Thomson Reuters World-Check with Salesforce AppExchange improves customer workflow and sets new standards for Know Your Customer due-diligence processes
Thomson Reuters today announced it is collaborating with Salesforce to help clients quickly and efficiently on-board new customers and meet regulatory anti-money laundering obligations in the fight against financial crime. Thomson Reuters World-Check, one of the world’s leading databases of risk intelligence data to support companies in meeting their due-diligence obligations, can now be accessed by customers on the Salesforce AppExchange through the Thomson Reuters Customer Risk Screener Application.
Thomson Reuters is committed to providing its customers, which include global corporate and financial companies, with solutions to assist in the fight against financial crime. The Customer Risk Screener Application is designed to drive improved workflow and will help clients more efficiently on-board and manage customer screening in one of the world’s leading CRM platforms. It will be accessible through Salesforce Sales Cloud, Financial Service Cloud and Service Cloud.
“Financial crime is one of the scourges of modern day society, and is linked to some of the world’s biggest problems such as forced prostitution, slavery and drug trafficking. The ‘Know Your Customer’ regulations are designed to help companies identify potential financial crime, and penalties for KYC failure are severe, including prosecution, substantial fines and ongoing regulatory oversight, not to mention reputational and brand value damage,” said Debra Walton, managing director, customer proposition, Financial & Risk, Thomson Reuters. “By working with Salesforce, we will help mutual customers in the ongoing fight against financial crime through our Customer Risk Screener Application. The application will simplify and accelerate the customer due diligence process and connect client account records, reducing significant manual requirements. This approach reduces costs and improves the overall experience for our customers and their clients.”
“Technology is key in helping companies adapt to a changing regulatory landscape,” said Rohit Mahna, SVP and GM of Financial Services, Salesforce. “By leveraging the power of the Salesforce Platform, Thomson Reuters will provide customers with innovative ways to readily connect information, and manage the risk and complexity of client screening, not just at on-boarding, but throughout every stage of the relationship cycle, all the way from prospective to repeat customers."
About Salesforce AppExchange
Salesforce AppExchange, the world’s leading enterprise cloud marketplace, empowers companies to sell, service, market and engage in entirely new ways. With more than 5,000 solutions, 5 million customer installs and 70,000 peer reviews, it is the most comprehensive source of cloud, mobile, social, IoT, analytics and artificial intelligence technologies for businesses.
Salesforce, AppExchange and others are among the trademarks of salesforce.com, inc.
World-Check is a risk intelligence database which helps organisations across the world meet their regulatory obligations, make informed decisions and help prevent them from inadvertently being used to launder the proceeds of financial crime or association with corrupt business practices. The database is managed by a team of over 350 highly trained analysts, speaking more than 65 languages, who monitor more than 600 sanctions, regulatory and law enforcement lists and thousands of media sources, as well as company information and regulatory filings, to ensure World-Check’s data is accurate and up-to-date. The information in World-Check is made available on a subscription basis only to those who require it to carry out due diligence or other screening activities in accordance with their legal or regulatory obligations or risk management procedures designed to combat financial crime. For more information about Thomson Reuters World-Check, visit https://risk.thomsonreuters.com/worldcheck
About Thomson Reuters
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.
Mark D. Harrop
Senior Business Partner – External Communications, Financial & Risk
New York, NY, U.S.A.
Office +646 223 7803
Mobile +347 803 5575
Senior Director, Corporate Affairs
Financial & Risk
Office +44 20 7542 4941
Mobile +44 7833 083799