LexisNexis Risk Solutions has revealed a new solution that leverages digital identity data to transform financial crime compliance workflows called LexisNexis Financial Crime Digital Intelligence.
Financial Crime Digital Intelligence combines the LexisNexis Dynamic Decision Platform and LexisNexis WorldCompliance data. The solution offers financial crime compliance teams the ability to keep pace with and mitigate escalating sanctions risks associated with accelerated digital transaction adoption.
LexisNexis Financial Crime Digital Intelligence provides a dedicated and customised workspace including purpose-built financial crime compliance capabilities such as access to additional sanctions risk features, storage capacity and user role configuration.
Two key features of the Financial Crime Digital Intelligence solution are Sanctions Location Risk and Sanctions List Match. Sanctions Location Risk uses the power of up to 10 different location signals to detect the location-based sanctions risk associated with a digital identity in real time, then delivers an assessment of that risk to users.
Sanctions List Match allows customers to automate a call from the Dynamic Decision Platform to WorldCompliance data and receive an immediate ‘yes/no’ response when there is a match to a sanctions list. This allows compliance teams to make the decision to either terminate the transaction or refer it for manual review in accordance with their specific risk appetite and tolerance.
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