Refinitiv, a provider of financial markets data and infrastructure that has served more than 40,000 institutions in over 190 countries, announced on Monday it has officially acquired global integrity and compliance risk firm, The Red Flag Group.
Refinitive reported that the acquisition is to help expand its suite of due diligence offerings with the addition of a leading provider of workflow, data, due diligence, and ratings solutions that help corporate compliance customers to evaluate money laundering, bribery and corruption, reputational and ESG risk.
“The addition of The Red Flag Group to Refinitiv’s existing Due Diligence capabilities, will result in a comprehensive set of tools and services to assist in customer and third-party risk mitigation. The combination will result in further development in areas such as workflow platforms, traditional due diligence reports, and will leverage Refinitiv’s data powered insights driven by products such as World-Check, the company’s premier risk intelligence database.”
Speaking about the acquisition, Phil Cotter, Managing Director of the Risk business at Refinitiv, stated:
“This is an exciting combination for customers of both companies as we will be bringing together the capabilities of two highly complementary businesses. The Red Flag Group’s strong corporate customer base and customer-facing technology complement our traditional strength in financial services, rich and diverse datasets and automation capabilities. I look forward to welcoming our new colleagues at The Red Flag Group to Refinitiv.”
Founded in 2018, Refinitiv claims to be one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries.
“We provide leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.”