It’s a well established fact that much of the technology’s mark was made by its brilliance in finding a more valuable alternative. Tasks that we used to consider as complicated and unfeasible at times were replaced by a simpler model, model that was essentially designed to improve the quality of our lives. This led to the expansion of things in our reach. For the first time ever, human beings were at a point where they could literally control their fate, if they wanted. This alone provides a broad window into man’s greatest creation. After all, it takes a lot rewrite the identity of the entire human race. Since that moment, our lives have become increasingly tech-driven, a point that is often used against technology. However, whatever luxuries we have today, as a result of giving the control to technology, makes this transition every bit of worthwhile. While its impact on the personal level has already been humongous, we are also starting to see this effect seep into the commercial sector. Last few years have been absolute key in revamping certain commercial areas, and even though the process is still going on, we are already witnessing the windfall of benefits thickening up by the day. You can carve out a perfect example of this from what’s happening in the compliance industry.
Compliance industry, after years of loyalty to traditional methods, has finally accepted that it will put itself in a much better position if the vendors start using the latest mediums and methodologies. As the industry tries to move away from outdated procedures, Refinitiv, a giant of financial markets data and infrastructure, might just have written this revolution’s latest chapter. It was recently announced that the Epic Platform OF GIACT and World-Check are officially merged; hence they can now be accessed through single API. Refinitiv had acquired these entities as a way of consolidating its roster, and now the company will be looking to address a range of issue through this merger. Basically, by combining comprehensive risk intelligence of World-Check with GIACT’s ability to provide diverse perspectives of business identity, payments, and compliance risk etc, Refinitiv has triggered an opportunity for making your operations more robust.
If we look solely from a security point of view, the integration couldn’t have come at a better time. Over the last two years, nearly 47% of Americans have been affected by identity-theft. A lot of that happened due to complex compliance requirements. Hence, Refinitiv’s decision to package together Epic Platform and Word-Check solutions into one API not only addresses the increasing fraud-risk levels, but it also help the users in bringing uniformity throughout the organization.