Thomson Reuters has completed its acquisitions of Clarient Global, LLC and Avox Limited, both of which will be integrated into its portfolio of risk management, compliance and data offerings.
Clarient is a leading Know Your Customer (KYC) platform that was previously owned by the Depository Trust & Clearing Corporation, Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan, and State Street. Avox is a leading supplier of legal entity data, such as the hierarchies and identifiers on financial entities globally.
“The acquisition of Clarient and Avox by Thomson Reuters is significant as it further positions Thomson Reuters, with the support of DTCC and the Clarient founder banks as initial consumers, as a leading, trusted provider of KYC and Legal Entity Data Due Diligence solutions,” said Hugh Stewart, Research Director at Chartis research. “The evolving global regulatory environment continues to emphasize anti-money laundering requirements for buy-side firms and corporate institutions to know their customers and all their related relationships when conducting global business. These regulatory requirements are spurring a growing demand for firms such as Thomson Reuters to develop global solutions that not only help customers accelerate client on-boarding and comply with regulations, but also reduce costs, improve client experience and extend support to the whole client life cycle.”