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.
Challenges emanate from a wide variety of internal pressures that are exerted on compliance eco-systems.
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.
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.
We utilise the power of data and advanced analytics to enable businesses to make better, timelier decisions based on the most relevant information.
Sophisticated linking technology, utilised in combination with our proprietary unique identifier, LexID®, helps businesses all over the world identify, screen, monitor and remediate customers.