Is it time to redress the balance?

The implication is that the financial services sector’s response to financial crime compliance is significantly more labour-intensive than technology-driven, suggesting significant gains in both efficiency and cost effectiveness could be readily achievable, through greater use of data and technology, for example to:


Increase capacity – process greater volumes of customer onboarding checks


Increase efficiency – perform existing checks in less time


Reduce costs – lower cost per check and reduce false positives


Significantly free up staff time to spend on higher value-add compliance activities

This latest study seeks to validate the sector’s focus on people-centric delivery

Through a series of in-depth interviews, the report aims to understand why this is the case and whether this balance is expected to change in the foreseeable future.

For this, we’ve probed a series of well-informed CXO perspectives: Chief Compliance Officers, Chief Operating Officers and Chief Digital or Technology Officers, with responsibility for delivering Digital Transformation.

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LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. 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 and

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