LexisNexis® RiskNarrative™ Puts Financial Crime Experts in Control of Multiple Information Sources to Make Strategic Changes to Risk Models in Minutes
ATLANTA, June 27, 2023 /PRNewswire/ — LexisNexis® Risk Solutions has launched an end-to-end customer lifecycle management platform to help businesses effortlessly integrate multiple information sources to make better risk decisions and provide smoother customer journeys.
LexisNexis® RiskNarrative™ leverages automation and decisioning technology to provide a sophisticated, configurable and accessible financial crime lifecycle management solution.
The growth of technology and digital platforms is changing how customers interact with businesses. Customers return to businesses expecting to be instantly recognized across multiple channels while new customers want to be able to onboard quickly and make transactions immediately. However, this digital transition in the global economy is also increasing opportunities for criminals to exploit digital ecosystems and evade detection.
LexisNexis RiskNarrative orchestration platform helps solve costly challenges caused by siloed operations by unifying multiple customer onboarding, compliance and risk-based workflows within a single Application Program Interface (API) and platform environment.
Orchestration platforms deliver a single, real-time view of customer risk for more effective and continuously responsive, end-to-end financial crime management. Organizations can expedite risk decisions through this more holistic view that incorporates Know Your Customer (KYC), Know Your Business (KYB), Anti-Money Laundering (AML) activity, identity documentation, behavioral biometrics and enhanced fraud detection.
What Makes LexisNexis RiskNarrative Unique:
- End-to-end customer lifecycle management: RiskNarrative enables organizations to manage critical fraud detection, financial crime prevention and compliance workflows from a single API. It provides teams with a unified view of customer risk to facilitate more informed business decisions, drive down compliance costs and outsmart fraud.
- No-Code Configuration: Fine-tuning strategy to keep pace with financial crime risk and regulations demands operational agility, yet reflecting changes requires technical resources, which incur delays and cost. RiskNarrative platform users can make changes to rules, models and integrated application providers without programming skills.
- Drag and Drop Services and Apps: Businesses can connect to a rich ecosystem of pre-integrated, third-party data sources, rulesets and machine learning models that can be incorporated into journeys and workflows through a simple drag and drop interface.
- Easy Integration: Effective anti-financial crime lifecycle management requires access to best-in-class insights and services. The RiskNarrative platform needs only one integration to use multiple services. An easy and intuitive restful API implemented by allowing rapid integration for availability within days.
“Businesses are balancing providing a smooth customer journey with the constant threat of financial crime and fraud. Digital solutions help them gain the real-time, actionable insight and analysis needed to serve their customers without compromising their business,” said Ryan Morrison, vice president of platform strategy at LexisNexis Risk Solutions. “An orchestration platform helps to create a smooth and efficient exchange between the compliance, fraud and infosec functions. In a world where financial crime risk and regulation are constantly shifting, LexisNexis RiskNarrative delivers a single, unified decision engine to drive high-confidence compliance decisions and the best customer outcomes.”
Learn more about LexisNexis RiskNarrative, now utilized by more than 200 businesses worldwide.
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.
Media Contact:
Marcy Theobald
678.694.6681
Marcy.Theobald@lexisnexisrisk.com
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SOURCE LexisNexis Risk Solutions
