LexisNexis® Firco™ Continuity
Named Best Sanction/Watchlist Screening Innovation for Second
Year
ATLANTA, Sept. 29,
2023 /PRNewswire/ -- LexisNexis® Risk Solutions
announced that its LexisNexis® Firco™ Continuity product
has been honored with the Best Sanction/Watchlist Screening
Innovation award by the 2023 Datos Insights (formerly Aite
Novarica) AML (Anti-Money Laundering) Impact Awards. The AML Impact
Awards recognize industry leaders pioneering new and disruptive
financial crime products and capabilities whose innovations bring
the financial services industry one step closer to triumph in the
fight against fraud, money laundering and other
illicit activities.
"Financial crime compliance has become increasingly
challenging to keep up with as sanctions and watchlists are rapidly
changing, putting financial institutions at risk," said
Becki LaPorte, strategic advisor
for fraud and AML at Datos Insights. "Firco
Continuity addresses these concerns by providing an efficient and
effective real-time transaction screening solution to detect and
flag potential risk of illicit financing."
Firco Continuity™ is a leading, more complete and scalable
real-time transaction screening solution that provides sanctions
compliance, reduces control costs and establishes readiness for
regulatory scrutiny. Firco Continuity provides businesses with an
end-to-end solution from the preparation of data to transaction
screening auditing, including filtering and alert remediation.
Enhanced traceability allows customers to quickly answer regulator
questions on previous alert decisions. Available on cloud or on
premise and following an API-first approach, Firco Continuity
easily integrates with existing IT systems and is supported by
technologies that enable optimal performance and scalability.
Datos Insights advisors and industry experts selected award
winners based on innovation, competitive advantage, market
needs/drivers, impact, value and future roadmap. This is the second
year in a row that LexisNexis Risk Solutions has won the Best
Sanction/Watchlist Screening Innovation category, with last year's
honor being LexisNexis® Financial Crime Digital Intelligence, a
financial crime compliance solution that leverages digital identity
data to transform compliance workflows.
"Financial crime within the global financial ecosystem is a
real problem, costing enterprise-sized organizations millions of
dollars (USD) per year to not only fight criminal activity, but to
demonstrate compliance to fast changing regulations. We are proud
to receive recognition from Datos Insights, which is further proof
that our screening solution excels at supporting the changing needs
of our customers," said Grayson
Clarke, senior vice president, LexisNexis Risk
Solutions. "The global cost of financial crime compliance
continues to rise due to time-consuming and error-prone manual
reviews of growing alert volumes. By providing solutions to address
the complex and rapidly changing regulatory environment in real
time, organizations can reduce their compliance burden and meet
their current and future transaction screening requirements while
enabling global financial transparency and
inclusion."
View the Datos Insights AML Impact Report.
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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