Financial Services Risk, Compliance and Reporting

KYC Services

Today’s rapidly evolving regulatory environment means that firms are increasingly looking at faster and more cost-effective methods to comply and reduce the burden of Know Your Customer (KYC) requirements.

KYC Services is a core component of the overall IHS Markit due diligence workflow process for brokers, custodians, corporates, fund admins, managers and service providers. Our market leading solution is built on Counterparty Manager, ensuring entity data, document collection, tax profile validation, regulatory protocols and self-declarations, legal credit agreements and operational setup information is complete, accurate and up-to-date.

Call APAC: + 65 6922 4258 Call UK: + 44 (0) 207 260 2102 Call US: + 1 212 488 4049 Email

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Access accurate & dynamic data on funds and investment managers

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The major components that form the core of KYC Services include:

Data

Leverage industry designed policy guidelines to address compliance needs together with local requirements in multiple jurisdictions, capturing approximately 80 crucial data points, including nature of business, beneficial ownership and key controllers. KYC Services continues to expand its automated connectivity to official public data sources, providing customers with more timely access to data.

Additionally, through KYC Services Fund Dataset you can also access accurate and dynamic data on investment managers and over 230,000 underlying funds through an automated feed, including linked active funds.

Technology

Our technology platform supports bilateral exchange with clients through a secure centralized environment. We provide an interactive online portal to collect, manage, request and store client KYC information, and offer integration capabilities with leading providers of screening data for Politically Exposed Person’s (PEPs), adverse media and sanctions/watchlists.

Managed Services

Our team plays a pivotal role across a range of key onboarding and recertification work streams. We offer a tailored, approach to meet your individual needs including consulting, outsourcing, client outreach, KYC health checks, policy building and end to end project management. This provides a more robust and efficient approach to long-term KYC sustainability.

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Introducing KYC Services

Key Stats

40,000

KYC Profiles

250+

Bank customers

250,000

Entities represented on Counterparty Manager, including 100,000+ with LEI's

Customer Testimonials

"PIMCO looks forward to working closely with IHS Markit in using Counterparty Manager, Tax Utility, KYC Services and the entire regulatory and compliance ecosystem. The seamless interoperability between these platforms to support client onboarding, master agreement negotiation and tax validation as a unified group of steps is particularly beneficial."
- Tracey Jordal, executive vice president and senior counsel for Trading and Markets, PIMCO

"We actively support the use of KYC utilities and have been investing in the development of KYC Service as a founding design partner since its inception. Now that the service has been developed, we want to encourage market adoption. Deutsche Bank is inviting customers to subscribe to this service and contribute their KYC documentation and data to KYC Services."
- David Deane, managing director of client and data services, Deutsche Bank

"One of the biggest challenges to conducting KYC in Asia is the regional variation for cross border compliance, which adds a layer of complexity to managing our customer relationships. For us it's about establishing best practice and mutualizing efforts to remove some of the regional anomalies. KYC Services supports this and provides a more cost effective way to conduct our business."
- David Fleet, managing director of client onboarding and management, Standard Chartered

"At UBS, we actively encourage the adoption of KYC utilities to drive industry simplification; and improve the delivery of services to our clients. Current practices are complex and time consuming. Gathering client information in a single place benefits both clients and financial institutions."
- Daniel Haid, managing director of client onboarding, UBS

Our Partners

Recent press releases/blogs

3 trends helping KYC due diligence adapt to a changing world, 2020

New beneficial ownership disclosure rules and how to simply them: Leveraging technology for new beneficial ownership disclosure rules

IHS Markit KYC Services leverages new technology to enhance managed services and public data

Experts

Marisol Lopez Mellado

Ms. Lopez-Mellado is responsible for supporting financial institutions and corporates to build out their Anti-Money Laundering (AML)/Know Your Customer (KYC) due diligence policies and procedures into KYC Managed Services. Ms. Lopez-Mellado also works with current and prospective customers, strategic partners, and product development teams to identify strategic opportunities to enhance the potential of the solution globally. Previously, she worked at Refinitiv where she was Regional Head of Policy & Standards for Risk Managed Services. During her time at Refinitiv she analysed, benchmarked and advised on more than 60 global KYC policies, including KYC requirements for all fund types.Ms. Lopez-Mellado has an extensive legal and compliance background, having commenced her career as a dual qualified lawyer (Spain & UK) She made the transition to business development. In her 15 plus years, she has helped organizations develop and implement their compliance, anti-corruption and third-party due diligence programmes. Ms. Lopez-Mellado is a dual qualified lawyer (Spain & UK) and holds two Masters in Law (LLM); International Corporate Governance, Financial Regulation, Economic Law and Comparative Business Law. She also holds an ICA international diploma in anti-money laundering.

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Darren Thomas

Mr. Thomas leads the IHS Markit platform business, which includes Counterparty Manager, KYC, Tax Solutions, and Know Your Third Party (KY3P). In keeping with our vision of driving efficient solutions and services for customer regulatory compliance, he leads our journey towards a next generation platform. Mr. Thomas has launched several new products and innovations over the past few years, including Outreach360 for client and regulatory outreach, Tax form validation utility, KYC services, Onboarding Accelerator, and Legal document digitization and automation. He has over 20 years of experience in driving technology change and helping firms efficiently adapt to global regulations. Prior to IHS Markit, Mr. Thomas worked at both Barclays and UBS where he ran Futures, OTC clearing, led regulatory change programs, and ran business functions across Operations and Technology. He began his career as a management consultant at PwC focusing on Manufacturing & Pharmaceuticals. He has been active in industry organizations and previously co-headed the ISDA Credit Derivatives Implementation Working Group during the financial crisis. Mr. Thomas holds a bachelor's degree in Mechanical and Aeronautical Engineering from Cornell University and received his MBA from the University of Georgia, both United States.

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Marjorie Chee

Ms. Chee is responsible for overseeing the Managed Services business within Regulatory & Compliance, which services includes conducting regulatory outreach to providing full KYC support on behalf of our clients. Previous to this role, Ms. Chee ran the KYC Services business that was designed in partnership with leading global financial institutions to create an industry approach for streamlining Know Your Client requirements. From 2002-2015, Ms. Chee worked at Goldman Sachs holding multiple senior positions in both AML Compliance and Client Onboarding in New York and London; she has developed global CIP and EDD policies across various entity types, implemented a QA and training programs for Institutional On-boarding, and was central point of contact for internal and external regulatory audits. Ms. Chee studied economic history and earned a Bachelor of Arts from the University of Pennsylvania, United States.

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