kyc.com, the joint venture between IHS Markit (Nasdaq: INFO) and Genpact (NYSE: G), today announced a strategic partnership with Dow Jones, Exiger and Regulatory DataCorp (RDC) to deliver an end to end know your customer (KYC) process integrating compliance, onboarding, sanctions, screening, negative media searches and client risk assessment. The alliance of these global firms will drive standardisation and compliance across regulatory regimes and multiple jurisdictions.

Kyc.com centralises operations around client onboarding and sets a policy standard for data quality and completeness devised by the industry. The kyc.com service represents a market share of 72% of the G14 dealers and over 2,100 buyside firms and corporations.

The kyc.com service will be powered with regulatory risk data and screening processing from RDC. The screening engine integrates RDC’s Global Regulatory Information Database (GRID™) of over 7 million profiles with risk relevant information. Additionally, GRID can incorporate other risk data sets using patented matching algorithms and technology enabled analyst review to deliver accurate results to a rating engine. Every entity within the kyc.complatform can also be continually monitored for change in their risk profile ensuring maximum protection for users at all stages of the relationship, not just at onboarding.

Dow Jones Risk and Compliance will serve as the core data provider with over 2 million global sanctions records including those related to politically exposed persons (PEPs), state owned companies, relatives and close associates, special interest persons, adverse media and watchlists.

Exiger will provide near real time public records media research through DDIQ, an artificial intelligence product that systematically removes false positives and identifies risks across premium and open source content. DDIQ will also combine the findings from kyc.com, and the data provided by Dow Jones Risk and Compliance and RDC, to produce a defined client risk assessment score for appropriate escalation within user firms.

In addition, users will have access to Exiger’s team of financial crime experts to assist in the design of policies and procedures to optimise system configuration. Exiger’s experienced professionals have held senior compliance roles in global financial institutions and law enforcement, bringing together a powerful combination of financial crime compliance experience.

“We are committed to providing the most comprehensive sanctions and watchlist data in the industry,” said Joel Lange, managing director of Dow Jones Risk and Compliance. “Creating this partnership is a massive step forward in combatting financial crime and money laundering globally.”

“As the volume of risks to screen increases exponentially, legacy platforms have struggled to cope with the demands,” said Tom Obermaier, chief executive officer of Regulatory DataCorp. “RDC is renowned in the industry for providing the most efficient and effective risk screening platform. Our unique combination of market leading screening technology, data, analytics and human analyst review delivers exceptional risk coverage.”

“Increasing regulatory demands and rising compliance costs are a massive challenge for banks and corporations,”said Michael Beber, president and chief executive officer at Exiger. “Through this alliance, we are able to offer our clients more accurate and up to date information to manage their customer risk with increased confidence and efficiency, and over time with reduced cost, which in today’s environment is essential.”

“Our aim is to bring together leading industry solutions that raise standards, increase control and reduce cost for all sizes and types of institutions from global G14 banks, investment firms and corporates through to small and medium size enterprises,” said Jon May, chief executive officer of kyc.com. “We are creating an ecosystem that provides a pressure release valve to the pent up challenges of keeping up with and remediating KYC, AML, tax, legal and regulatory requirements.”