2023-06-27 13:33:30
The new product must allow control of multiple sources of information in order to achieve rapid strategic changes in risk models.
LexisNexis Risk Solutions launched an end-to-end customer lifecycle management platform to help companies easily integrate multiple sources of information to make better risk decisions and create customer journeys more fluid.
LexisNexis RiskNarrative leverages automation and decision-making technologies to deliver an advanced, configurable, and accessible financial crime lifecycle management solution.
The growth of technology and digital platforms is changing the way customers interact with businesses. When reconnecting with businesses, customers expect to be recognized immediately across different channels, while new customers want to be onboarded quickly and be able to transact directly. However, this digital transition of the global economy presents an increasing number of opportunities for criminals to exploit digital ecosystems undetected.
The LexisNexis RiskNarrative orchestration platform helps solve costly operational silo challenges by unifying different customer onboarding, compliance, and risk workflows into a single, seamless application program interface (API). in a platform environment.
Orchestration platforms provide a single, real-time view of customer risk for more efficient and responsive end-to-end financial crime management at all times. Organizations can accelerate their risk decision-making with this more holistic view that incorporates Know Your Customer (KYC), Know Your Business (KYB) , anti-money laundering (AML), identity documentation, behavioral biometrics and enhanced fraud detection.
“Companies must balance the smoothness of the customer journey with the constant threat of financial crime and fraud. Digital solutions help them get the actionable, real-time insights and analytics they need to serve their customers without compromising their business,” said Ryan Morrison, vice president of platform strategy at LexisNexis Risk Solutions. “An orchestration platform helps set up a smooth and efficient exchange between compliance, fraud and information security functions. In a world of ever-changing financial crime risks and regulations, LexisNexis RiskNarrative offers a single, unified decision engine to drive highly reliable compliance decision-making and the best customer outcomes.”
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