LexisNexis® Risk Solutions has announced an update to its digital identity intelligence capabilities. LexisNexis® Financial Crime Digital Intelligence is a new solution that leverages digital identity data to transform financial crime compliance workflows.
Two key features of the Financial Crime Digital Intelligence solution are Sanctions Location Risk and Sanctions List Match. Sanctions Location Risk uses the power of up to 10 different location signals to detect the location-based sanctions risk associated with a digital identity in real time, then delivers an assessment of that risk to users. Sanctions List Match allows customers to automate a call from the Dynamic Decision Platform to WorldCompliance data and receive an immediate “yes/no” response when there is a match to a sanctions list. This allows compliance teams to make the decision to either terminate the transaction or refer it for manual review in accordance with their specific risk appetite and tolerance.
“Many organizations struggle to mitigate financial crime risk using legacy methodologies when virtually everything about the way consumers transact with them today has changed. These legacy workflows have not kept pace with the sweeping evolution in technology,” said Grayson Clarke, senior vice president of market planning at LexisNexis Risk Solutions.
Clarke continued, “Financial Crime Digital Intelligence is igniting real change, bringing the revolutionary power of digital identity for financial crime risk assessment to life – first for sanctions risk and soon for additional financial crime use cases. Organizations can now mitigate risk within their digital channels and bring their processes into alignment with the digital era.”
LexisNexis Risk Solutions will launch additional financial crime compliance integration capabilities accessible via Financial Crime Digital Intelligence to address other use cases.
