Refinitiv Launches ‘Qual-ID’ Integrating Digital Identity Technology With KYC Due Diligence

▤ Summary

LONDON--(BUSINESS WIRE)--Refinitiv has taken a significant step forward in its efforts to help financial services providers fight identity fraud and financial crime with the launch of Qual-ID, a new solution combining digital identity verification with risk screening to help improve digital onboarding of consumers and compliance with Know-Your-Customer (KYC) and anti-money laundering (AML) regulations around the world. Qual-ID enables organisations to verify identities against trusted data sources, proof legal documents, conduct anti-impersonation checks, and screen for regulatory and financial risk; such as sanctions, PEPs and adverse media. “Financial services are in the midst of a digital identity revolution, which is being driven by a host of inter-connected factors such as regulations mandating enhanced privacy and consumers who demand more choice and flexibility,” said Phil Cotter, Managing Director of the Risk business at Refinitiv. “Being a financial institution is not simple these days; regulations are rapidly evolving, money-laundering is at an all-time high and consumers are increasingly mobile yet expecting seamless user experiences. Named as a CNBC Disruptor 50 Company, Trulioo’s mission is to solve global problems associated with verifying identities by powering fraud prevention and compliance systems for customers worldwide to increase trust and safety online.

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