Financial Crime Compliance Eco-System

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Balancing your financial crime compliance eco-system

The right combination of data, analytics and technology should form the core of your compliance eco-system, ensuring efficiency, effectiveness and compliance whilst protecting the business from risk.

The growing challenge of maintaining an effective financial crime compliance eco-system


Financial criminals such as money launderers are becoming smarter and more sophisticated, looking to exploit any weaknesses in compliance controls. Yet this is only one of an abundance of external and internal pressures that place strain on compliance eco-systems.

To meet the challenge head on, it is critical that the components of financial crime compliance eco-systems are viewed holistically, to ensure that they interact efficiently and manage risk consistently across the customer lifecycle.

Internal Pressures

Challenges emanate from a wide variety of internal pressures that are exerted on compliance eco-systems.

Front/Back Office Disconnect

Data Quality

Sales and Profitability

Risk-Based Approach

Disparate/Unconnected Systems

Efficiencies and Effectiveness

Customer Experience

Costs

Volume of Alerts/Exceptions

External Pressures

Evolving external forces compound compliance challenges, further intensifying the load on financial crime compliance professionals.

Regulatory Expectations

Regulatory Expectations

Talent and Resource

Talent and Resource

De-Risking

De-Risking

Geo-Political Risk

Geo-Political Risk

Increasing Data Volumes

Increasing Data Volumes

Sanctions Regime

Sanctions Regime

Reputational Risk

Reputational Risk

Evolving Criminal Threat

Evolving Criminal Threat

Data Privacy

Data Privacy

The holistic approach, adjusted to your requirements


The holistic approach requires an end-to-end view of the processes which support your financial crime compliance eco-system. From onboarding to screening to alert remediation, all of the inherent stages must be fine-tuned to ensure best outcomes; balancing compliance and risk mitigation with business objectives and the need to ensure a positive customer experience.

How can LexisNexis® Risk Solutions help you achieve the holistic approach?

At the very core of effective compliance controls is the data, technology and analytics which drive your decisions. Relevant, rich and reliable risk information, which is delivered via name screening software will allow you to mitigate financial crime risk at every stage in your compliance processes.

LexisNexis Risk Solutions technology, data and analytics can help transform the way you make decisions across the client lifecycle. Through a progressive approach, we can support the development of your robust compliance eco-system to effectively balance both current and evolving pressures.

Data and Analytics

We utilise the power of data and advanced analytics to enable businesses to make better, timelier decisions based on the most relevant information.

Technology

Sophisticated linking technology, utilised in combination with our proprietary unique identifier, LexID®, helps businesses all over the world identify, screen, monitor and remediate customers.

Contact us today and find out how we can support you in developing your financial crime compliance eco-system

Please call +44 (0)29 2067 8555 or complete the form and we will be in touch shortly to discuss your requirements...