LexisNexis® Risk Solutions Inc., a Reed Elsevier company, was announced as a double winner at the 11th annual Compliance Register Platinum Awards at a ceremony held in London in late November.
LexisNexis was recognised at the awards ceremony as the Best Technology Solutions Provider – Financial Crime & Sanctions and Best Financial Crime Intelligence and Research Data. In addition to these endorsements, Chrisol Correia, Director, Global AML, LexisNexis Risk Solutions was runner-up in the Best AML and Financial Sanctions Professional category.
LexisNexis won in the technology solutions category for its Bridger Insight® product, which has been selected by Chief Compliance and MLR Officers as well as Financial Intelligence divisions in some of the largest banks in the world to assess and mitigate the overall AML/TF risks faced by their institutions. The Bridger Insight platform offers market-leading screening, a best-in-class database with U.S. and U.K. public records, sanctions, PEPs and structured and unstructured adverse media.
“As global regulators apply more scrutiny to the compliance process and penalties for non-compliance soar, financial institutions require solutions that not only reduce risk of exposure but also drive significant operational efficiencies, which, ultimately, reduce compliance costs,” explained Dean Curtis, Director EMEA and APAC, LexisNexis Risk Solutions. “Bridger Insight is the market-leading single platform solution that provides seamless integration and access to due diligence, sanctions and anti-money laundering capabilities for a consolidated customer view through one service provider.”
For example, Bridger brings significant efficiencies to the compliance functions through effective screening, flexible false positive reduction rules and custom remediation work flows, all combined on a single touch point. As a result, compliance organisations can do more with fewer resources, thus reducing the overall cost of compliance. In addition, Bridger’s proven matching technology, flexibility, and ease of use enable Compliance Officers to demonstrate reliability, consistency and system acumen to the regulators, hence fostering trust and confidence during the examination process.
LexisNexis Risk Solutions’ success in the Financial Crime Intelligence and Research Data award category is for the WorldCompliance sanctions and enforcement capability, which has the most relevant screening database of risk profiles, including also Politically Exposed Persons and Adverse Media, to help organisations identify relationships that may present increased risk to their businesses.
Curtis concluded: “We are immensely proud not only to win this award but also to have the honour to service our clients and help them overcome real-world challenges every day.”
The Compliance Register Platinum Awards recognise exemplary service to compliance and regulation. Nominations are made by independent third parties such as clients, members of the public and professionals. Winners are then chosen by the Academy of Compliance Excellence, an independent body established by The Compliance Register to give formal recognition for compliance and regulatory excellence.