LexisNexis® RiskNarrative Ranked
as a Leader Among New Market Entrants
ATLANTA, Aug. 17,
2023 /PRNewswire/ -- LexisNexis® Risk Solutions
announced its LexisNexis® RiskNarrative™ platform ranked as a
Functionality Standout in Celent's 2023 AML (anti-money laundering)
Transaction Monitoring (TM) Report.
Celent evaluated 40 software providers worldwide with the final
report featuring 17 profiled vendors. Celent used its proprietary
ABC methodology to position companies across three
dimensions: Advanced Technology, Breadth of
Functionality and Customer Base and Support.
As a result of shifts in technology and the supplier landscape,
half of the systems profiled in Celent's AML TM systems report were
developed by new entrants over the past five to ten years.
LexisNexis Risk Solutions began offering AML TM when it launched
its RiskNarrative platform in late 2022 shortly after its
TruNarrative acquisition earlier in the year.
"The supplier landscape has expanded dramatically with the
addition of numerous new regtech entrants offering
digitally-enabled solutions," said Neil Katkov, Ph.D, Risk Director at Celent.
"The AML TM solution from LexisNexis Risk Solutions is
differentiated by its no code platform and AI-based process
automation to support fincrime workflows. RiskNarrative earned high
marks to place them squarely in the Functionality Standout
category."
RiskNarrative is a customer lifecycle management tool
specializing in financial crime compliance and fraud
prevention. It leverages core technology, capabilities from the
company's Dynamic Decision Platform and alternative, third-party
services to prevent fraud at the point of application.
It allows customers to do this via a single, unified platform
utilizing a highly intuitive and easy-to-operate user interface
for all financial lifecycle journeys with simple integration
and no coding.
Ryan Morrison, vice president of platform strategy,
LexisNexis Risk Solutions, said, "We are thrilled with this
recognition by Celent as it signifies the success of our team's
dedication and work to bring a cutting-edge transaction monitoring
solution to market so quickly. We fully intend to take this solid
foundation and tirelessly innovate the platform and grow its
services to meet customers right where they need it. Customers
around the world are already benefiting from our capabilities
within a platform that makes risk management as easy to use as a
drag-and-drop application. I'm looking forward to seeing how this
platform continues to evolve."
Key RiskNarrative platform benefits:
- Helps customers and businesses comply with regulations and
protects against fraud.
- Clearly demonstrates AML controls and regulatory compliance to
regulators.
- Integrates transaction monitoring with risk scoring at
onboarding and ongoing throughout the customer journey, enabling a
true single customer view.
- Manages transactional risk effectively across the full customer
lifecycle.
- Creates and customizes transaction monitoring strategies,
journeys and rulesets easily and as required with reduced reliance
on technical support.
- Eliminates irrelevant referrals and alerts, using the virtual
agent machine learning algorithm.
- Dynamic risk and compliance management with a more complete
view of all transactions.
Learn more about the LexisNexis® RiskNarrative™ platform.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions includes seven brands that span
multiple industries and sectors. We harness the power of data,
sophisticated analytics platforms and technology solutions to
provide insights that help businesses and governmental
entities reduce risk and improve decisions to benefit people around
the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout
the world and are part of RELX (LSE: REL/NYSE: RELX), a global
provider of information-based analytics and decision tools for
professional and business customers. For more information, please
visit LexisNexis Risk Solutions and RELX.
About Datos Insights
Datos Insights delivers the most
comprehensive and industry-specific data and advice to the
companies trusted to protect and grow the world's assets, and to
the technology and service providers who support them. Staffed by
experienced industry executives, researchers, and consultants, we
support the world's most progressive banks, insurers, investment
firms, and technology companies through a mix of insights and
advisory subscriptions, data services, custom projects and
consulting, conferences, and executive councils.
Media Contact:
Marcy
Theobald
678.860.3639
Marcy.Theobald@lexisnexisrisk.com
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SOURCE LexisNexis Risk Solutions