Elite and Thomson Reuters GRC Launch Enhanced Risk Management Solution
Elite, a Thomson Reuters business and a provider of financial and practice management solutions for professional services firms, and the Thomson Reuters governance, risk and compliance (GRC) business have combined forces to deliver an improved and robust risk and conflict management product for global legal teams.
Elite Conflicts Manager is now integrated with the Thomson Reuters GRC Screening solution, allowing firms to perform searches on a full range of data, including sanctions, regulatory and law enforcement, politically exposed persons and adverse media data sets. Conflicts Manager now improves know-your-customer (KYC) solutions for law firms, strengthening their ability to carry out global screening of potential clients and reduce business risk.
“Bringing these two solutions together is a natural development from two market-leading businesses in the Thomson Reuters family,” said David Craig, president, Thomson Reuters GRC. “This is the first phase in a two-phase plan for closer collaboration between our governance, risk and compliance and Elite product sets.”
Phase 2, which will be available to Elite customers later this year, will provide an integrated solution including the on-going monitoring of law firm clients.