ADP Brokerage Services Group has introduced a customer identity verification system, integrated with the company’s Brokerage Processing Services (BPS) securities processing system. The client validation system is aimed at helping broker-dealers’ compliance and new accounts departments to verify their customers’ identities in accordance with the USA Patriot Act. The system was built using RemitPro’s Risk Alert application, which accesses multiple vendor and public databases to verify the identity of potential customers using sophisticated, automated matching criteria.
A-Team Insight Blogs
ADP Partners with RemitPro to Offer Client Verification
Sanctions screening at the security level is a relatively recent requirement for the buy-side. It dives deeper than traditional KYC and AML screening and is immensely challenging as firms must monitor frequently changing sanctions lists, source up-to-date sanctions data and beneficial ownership data, and integrate these to screen growing lists of potentially sanctioned securities. As...
IHS Markit Connects Corporate Actions Solution to DTCC ISO 20022 Messaging Platform to Improve Process Automation
IHS Markit is aiming to simplify and automate corporate actions by connecting its Corporate Action SaaS solution to DTCC’s ISO 20022 messaging platform. The connection will provide direct delivery of corporate actions ISO 20022 formatted messages from the DTCC platform to the IHS Markit solution, giving DTCC users improved straight through processing for corporate actions....
Now in its 6th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...