13th March, 2014. London. Regulatory CounterpartyLink (CPL), the leading source of evidence-based legal entity intelligence, today announced that it has partnered with RDC, the global leader in risk intelligence and compliance services, to help financial institutions strengthen, simplify and shorten due diligence workflow and processes; protect against reputation damage; and reinforce customers’ compliance programs.
CPL’s evidence-based legal entity information combined with RDC’s decision-ready intelligence and world-class risk and compliance data will enhance financial institutions’ existing compliance programs ensuring: Anti-Money Laundering (AML)/Know Your Customer (KYC) compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring.
RDC, which houses the world’s largest database of risk relevant records compiled from open-source information, is offered through CPL’s leading legal entity intelligence service. This enhanced service provides immediate access to hierarchical structures – across jurisdictions – flagging banned or suspect entities, strengthening fraud protection and offering best-in-class due diligence.
“Our collaboration with RDC is another example of CounterpartyLink’s ongoing commitment towards adopting and sustaining industry standards across the entire global legal entity data industry.” said James Redfern, Managing Director, CounterpartyLink. “Collecting, validating, maintaining and delivering up-to-date information on entities and directors, and performing due diligence checks are time-consuming and duplicative tasks for financial institutions,” says Redfern. “By adding RDC’s comprehensive database, customer on-boarding is more agile and the high costs associated with implementing anti-money laundering regulations are reduced.”
Financial institutions are continually pressured to improve efficiencies whilst gaining compliance with regulatory standards. CPL delivers the industry’s leading evidence-based, legal entity intelligence, and is further helping institutions around the world to meet with ongoing regulatory and customer demands through sanctions screening.
“Proactive screening and monitoring of legal entity data is paramount in today’s regulatory environment.” said Rupert de Ruig, Managing Director, EMEA & APAC, RDC. “Combining CounterpartyLink’s information with RDC’s global risk-relevant database will ensure financial institutions meet AML & KYC regulatory requirements and are alerted to potential commercial or reputational risk”.
Established in 2005, CounterpartyLink reflects a vast experience in the legal entity data industry.
Magalie Pimentel, Head of Marketing, International, RDC
Tel: +44 (0)20 7959 2245
CounterpartyLink provides global legal entity and counterparty data, collected and maintained with processes designed to be consistent with the stringent standards required by today’s risk management and regulatory compliance requirements.
CounterpartyLink provides detailed information on legal entities collected in data centres around the world, using primary sources and registration documents. All data is collected and verified using rigorous quality-assurance procedures and is continually updated for corporate actions and other events affecting the data.
About RDC Regulatory DataCorp, Inc. (RDC) is the leading anti-money laundering compliance solutions provider. It offers superior technology and operational services through its unique platforms, allowing firms world-wide to gain superior compliance protection, conduct reasonable diligence, and manage supply chain risk in the most cost-effective manner. RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring to a wide range of clients world-wide. RDC was founded in 2002 by 20 of the world’s leading financial institutions. Learn more about RDC by emailing email@example.com or visiting www.rdc.com.