Standard Charter to Join Thomson Reuters KYC Service in South Africa

Standard Chartered Bank announced its intent to join Thomson Reuters Org ID regional managed service solution for Know Your Customer (KYC) due diligence in South Africa. Standard Chartered Bank has made the decision to join the African KYC managed service, which Thomson Reuters launched in July 2016 with partner banks Barclays Africa, Rand Merchant Bank (a division of FirstRand Bank) and Standard Bank of South Africa. Standard Chartered Bank is expected to go live towards the end of the quarter. Thomson Reuters has built out operational hubs in Johannesburg and Cape Town, augmenting existing centers in Poland, Malaysia and the UK, intelligently co-locating with an existing World-Check operational center in Cape Town. Since its 2014 launch, Thomson Reuters Org ID KYC solution now serves 26 major financial institutions and asset management firms.