Financial crime and fraud are rapidly evolving in Wealth Management... are you?

Protecting your wealth or asset management firm from the growing threat of fraud and financial crime is more challenging than ever, and as criminals embrace technology to sidestep controls, your genuine customers still expect a frictionless experience. So how do you protect your firm from the risk of financial crime whilst keeping your customers happy?

Our unique combination of market-leading technology, data and analytics can support you on every step of the customer journey. When deploying our solutions, you can be confident that you have robust and comprehensive fraud, KYC and AML controls, drawing on comprehensive, highly accurate and insightful risk data. With seamless integration into your existing processes and systems, your customers will enjoy a frictionless experience.

Build your optimal end-to-end KYC and due diligence solution

We will help you configure your chosen tools to your specific requirements and seamlessly integrate them into your existing infrastructure.

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Assure your customers' identities at onboarding

Verify and authenticate the identity of your customers

Strengthen your access controls while limiting friction for new and returning customers by layering a customisable range of integrated identity verification and authentication tools, including online document authentication and facial biometrics via our mobile identity app.

Did you know?

45% of financial crime compliance leaders see an inability to differentiate between suspicious and legitimate transactions as one of the biggest AML related risks facing their organisation today.*

* Future Financial Crime Risks 2020 report – LexisNexis® Risk Solutions

Customer Identity Assurance:

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Prevent fraudulent account openings and takeovers

Distinguish between legitimate customers and cybercriminals in near real time

Walking a tightrope between customer experience and security, financial institutions require an enterprise level fraud solution which incorporates multiple touchpoints along the customer journey and effectively detects high-risk or anomalous behaviour, securing logins and protecting against account takeover.

Integrate seamless fraud protection throughout the entire customer journey

Our solutions deliver digital identity intelligence, smart behavioural analytics and clear-box machine learning to revolutionise the traditional identity challenges in financial services – intrusive step-up, siloed policies and limited visibility. We enable financial organisations to verify that customers are who they say they are, every time, by building a unique digital identity for each user.

Utilise global shared intelligence

The LexisNexis® Digital Identity Network® drives our multi-layered analytics and intelligence solution, which collects and processes global shared intelligence from more than 30 billion global transactions each year. This is complemented with a contributory global database of more than 40 million fraud-associated email addresses. We also provide data from the Metropolitan Police Service Amberhill database on false identities and identity documents – all delivered via a powerful identity assurance and fraud prevention platform.

Fraud Prevention:

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Revolutionise your due diligence screening and ongoing monitoring

Utilise globally trusted risk information

Our extensive database of global risk information is expertly researched and continuously updated by a worldwide network of over 400 researchers and analysts. This enables businesses to address the highest levels of enhanced due diligence requirement, to effectively remediate and screen individuals, organisations, and businesses from over 240 countries, against the latest sanctions, enforcement lists, PEPs and adverse media intelligence.

Optimise your KYC due diligence with advanced screening technology

Speed up compliance checks with increased accuracy and safely automate customer and third-party screening with cutting-edge matching technology and AI techniques. Intelligently reduce false positives and minimise manual reviews, dramatically and safely reducing remediation workloads to free up resource for case managers to work on actual cases – driving compliance costs down, increasing business profits and improving operational effectiveness.

Evidence and explain your compliance with a robust audit trail, enabling your organisation to demonstrate compliance with all relevant regulatory obligations.

Global Risk Information:

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Due Diligence Screening:

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Focus your enhanced due diligence

Achieve robust EDD through enhanced data

Understanding PEP and third-party risk, establishing sources of wealth, unravelling complex corporate structures, identifying beneficial owners, or engaging with entities from high-risk jurisdictions requires a deep level of diligence checks.

Our enhanced due diligence tool and in-depth reports go far beyond standard searches, providing a detailed view of the risk associated with a given entity. Link consumer, business and risk data, within a single web-based investigation platform to reduce the length of time your EDD takes.

Avoid reputational damage, financial penalties and loss of revenue by making effective risk-based decisions informed by advanced risk intelligence and backed by a fully transparent audit trail.

Enhanced Due Diligence:

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Onboarded Customer
Continual Cycle

Enjoy a single, consistent and up-to-date record of your customer, when you need it, synchronised throughout the organisation, across business lines and borders.

Our technology enables you to automatically process and update your customer and entity data in a central hub, helping to ensure your records are accurate, up-to-date and compliant, while providing a first-class customer experience and better insights to empower your business.

Industry Insights:

91% of financial firms surveyed agreed a single customer view implemented across the organisation would have a positive impact on operational effectiveness and efficiency.*

* Future Financial Crime Risks 2020 report – LexisNexis® Risk Solutions

Customer Data Management:

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Our solutions are relied upon and trusted...

Case Study: Wealthify

Wealthify adopted several LexisNexis® Risk Solutions AML compliance platforms to help the online investment service meet its obligations within its desired workflow:

“LexisNexis® Risk Solutions software enables us to streamline our entire compliance operation, helping us carry out more effective background checks and detect illegal activities.”

Case Study: Prudential

Prudential finds a simple solution to the complex world of sanctions screening:

“There are always some false positives with sanctions screening, but if you can minimise these safely, it makes the process much more efficient.”

See how we can help to optimise your KYC and CDD processes across the customer lifecycle

Book a free, no-obligation consultation to find out more.

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Who is LexisNexis® Risk Solutions?

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 risk.lexisnexis.co.uk and relx.com.

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