Thomson Reuters buys Clarient and Avox to boost KYC managed services

Clarient is a global Know Your Customer (KYC) and client reference data platform owned and used by the Depository Trust & Clearing Corporation (DTCC), Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan, BNY Mellon, and State Street, among others. Avox is a supplier of legal entity data, hierarchies and identifiers on financial entities globally, owned by the DTCC.

This acquisition represents another step forward by Thomson Reuters, who brought the first KYC managed service to market in 2014 (Org ID).

Today the company serves 23 leading financial institutions worldwide with over 200,000 KYC records published to date, consistently on-boarding or refreshing over 2,000 clients per month and helping customers accelerate client on-boarding, comply with regulation, reduce costs and improve client experience. These businesses will be integrated into Thomson Reuters portfolio of risk management, compliance and reference data offerings.