LEEDS — Data and analytics firm, LexisNexis® Risk Solutions, has been selected to provide Hodge Bank with a full end-to-end solution for customer onboarding and ongoing monitoring, incorporating AML screening, transaction monitoring and case management, all within a single platform.
Hodge is an independently owned bank offering a range of specialist mortgage and savings products to private and commercial clients. It has more than 85,000 customers across the UK. The bank was looking to automate its onboarding and ongoing know your customer (KYC) reviews and approached LexisNexis Risk Solutions to help.
The RiskNarrative™ orchestration platform will help Hodge onboard new customers faster and more efficiently, without compromising on risk. The platform will help to ensure the bank protects its customers effectively and supports a great user experience, whilst helping the bank to meet its compliance obligations.
RiskNarrative is used by a range of different industry sectors to confidently onboard customers, detect fraud and identify risk, including banks, lenders, ecommerce providers, and payments services firms.
As part of its ongoing digital transformation programme, RiskNarrative will first be deployed into the bank’s most mature product, Savings, and later into the wider ecosystem for B2B customer onboarding.
Natalie Fowler, Onboarding KYC Manager at Hodge, said: “The RiskNarrative platform is going to allow us to save time and resource, and therefore costs by automating this process. It will also help with timely decision making and ensuring the customer onboarding experience is a great one.”
“At Hodge, we are all about making life simpler for the customer and so having this automated service available and allowing a more accurate onboarding and ongoing screening process, as well as ensuring Hodge is compliant and consistent, is vitally important for us as a business.”
“It’s great to be working with Hodge to help them with their digital transformation. I champion any bank that looks to modernise, adopt new technology and address 21st century challenges. With the RiskNarrative platform, Hodge will be able to deliver an exceptional and frictionless customer experience,” said Aaron Harvey, Business Development Director for LexisNexis Risk Solutions.
Hodge is an independently owned group based in Cardiff, offering a range of personal mortgage products, savings products to private and commercial clients, as well as lending to commercial clients nationwide.
Over 85,000 customers across the UK trust Hodge to support them because of its years of expertise and knowledge in the markets it serves. Hodge design products with customers in mind, keeping things simple and straightforward.
The Hodge Foundation, a charity supporting the welfare, medical, academic and educational areas own 79% of Hodge.
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 provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. 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.
RiskNarrative is a trademark of LexisNexis Risk Solutions UK Limited. LexisNexis is a registered trademark of RELX Inc. Copyright © 2022 LexisNexis Risk Solutions.