Sourcing and maintaining legal entity data has become more complex and costly. Increased business requirements and regulatory reporting pressure mean greater numbers of stakeholders within an organisation now need access to legal entity data.
Thomson Reuters Further Strengthens KYC Managed Services and Legal Entity Data Through Clarient and Avox Acquisitions
Thomson Reuters acquires Clarient and Avox.
The combined Know Your Customer (KYC) offering will seamlessly embed Clarient and Avox capabilities in the Thomson Reuters Risk Managed Service environment, delivering the industry’s leading KYC solution.
Avox matches, enriches and maintains legal entity reference data for its clients, delivering corporate hierarchies, registered address information, industry sector codes and company identifiers. This approach ensures that clients can rely on the most accurate and timely data available to facilitate decision making and regulatory reporting.
The community participants, which include some of the largest banks and asset managers in the world, both contribute and subscribe to a shared pool of data, processes and resources.
Who Can Use The Service
Broker/Dealers, Investment Managers
- Identify corporate hierarchies – we identify relationships between legal entities that provide clients with a better understanding of their global risk exposure for each of their counterparts (i.e. trade counterparties, issuers of assets, clients, custodians or agents)
- People led research - solely dedicated to Avox data quality and maintain records of approximately 2 million legal entities worldwide
- Extensive research capabilities – we cover more than 250 jurisdictions worldwide, our analysts check approximately 250,000 data attributes every week
- Access to high data quality – analysts use a comprehensive Operational Manual with over 1,500 authoritative sources to verify and ensure accurate and consistent entity data
- Reduce cost and improve business processes – contributing to a shared pool of resources reduces time and cost of checking, updating and maintaining data internally
- Enhanced risk management – increased data quality better informs decisions, improves client on-boarding and your ability to meet regulatory reporting requirements
how it works
The Avox Managed Data Service (MDS) involves the management (matching, enriching, maintaining) of 58 data fields which make up a “core” entity record. Information for these data fields includes identifiers like LEI and SWIFT BIC, Addresses, Industry Classifications and Corporate hierarchies.
We employ an experienced research team of analysts that search for new reliable sources of entity data focused on government, regulatory stock exchange and accredited business registry sources. More than 320 analysts work in the Avox Wrexham operations ‘Centre of Excellence’ and together they speak 27 languages.
Avox legal entity data can be accessed via a number of different methods.
Clients can use any combination of:
- self-subscription via the Avoxdata.com portal
- upload and receipt of bulk entity files
- web services (client web server communication to/from Avox core database) for single or bulk entity data management.