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Bridger Insight® XG AML Solution Highly Commended at Regulation Asia Awards for Excellence
SINGAPORE and HONG KONG, Nov. 14, 2018 /PRNewswire/ -- LexisNexis Risk Solutions, the industry leading risk management partner, is seeing growing demand for its AML solution in Asia as global financial institutions and international corporates operating in the region seek to combat money laundering in the face of increased regulatory scrutiny.
LexisNexis Risk Solutions AML solution - Bridger Insight® XG - was recently highly commended at the Regulation Asia Awards for Excellence. The award recognises technology solutions that best address AML and related documentation solutions across a range of platforms and make use of intelligent automation, machine learning or artificial intelligence-based solutions that detect suspicious activity, while reducing the cost of compliance.
Thomas C. Brown, senior vice president, U.S. Commercial Markets and Global Market Development, LexisNexis Risk Solutions, said: "It's a great honour to be recognized with this award. It demonstrates our ongoing commitment to helping our clients achieve a significant reduction in false-positives, freeing up resources to focus on mission-critical and revenue-generating activities. The fully integrated compliance platform enables organizations to consolidate compliance processes, standardize controls and bring enterprise-wide operational consistency."
In 2017, LexisNexis Bridger Insight XG was awarded 'Best AML Solution' at Asian Private Banker's Technology Awards. The latest award received at the Regulation Asia Awards for Excellence reaffirms LexisNexis Risk Solutions pioneering role in providing leading AML solutions, including sanctions, KYC and Customer Due Diligence (CDD), Enhanced Due Diligence (EDD) and Sanctions regulations for its clients in the Asia market and the roll-out of innovative products.
Regulators across the Asian region are increasingly putting pressure on financial and non-financial institutions to improve overall AML screening requirements in each jurisdiction they operate. Thus, demand for LexisNexis Risk Solutions Bridger Insight XG to boosts efficiency through accessing identity verification, screening, due diligence and fraud prevention services through a single point of entry is on the rise. Bridger Insight XG can process large batch quantities of customer information, including ongoing payment screening, and generate an audit trail by automatically documenting the due diligence process. It enables customers to reduce false positives through matching algorithms refined over 17 years.
LexisNexis Risk Solutions Bridger Insight XG allows firms in Asia to grow their global customer base faster and expedite transaction execution while protecting their organizations from regulatory risk. Without technology such as the Bridger Insight XG platform, organizations will struggle to keep their resources focused on what is most important: customer experience and revenue generation.
David Haynes, LexisNexis Risk Solutions APAC Head, said: "In a complex market such as Asia, preventing financial crime requires a constant focus on improving how you monitor for potential criminal activity. Both financial and non-financial institutions should recognize that effective risk identification and customer assessment are crucial to their business success. Proper processes also lead to more financial inclusion and financial transparency."
LexisNexis Risk Solutions' AML capabilities allow firms to strengthen their risk oversight while achieving cost savings and operational efficiencies, thereby reducing customer onboarding friction for new and existing clients in Asia. As a result, clients benefit from a reduced total cost of compliance.
About LexisNexis® Risk Solutions
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 Group (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
Media Contact:
Jean Creech Avent
Director, PR
LexisNexis Risk Solutions
+1 770 862 7978
jean.creech@lexisnexisrisk.com
Lisa Fong
Teneo Strategy
+852 3655 0520
lisa.fong@teneostrategy.com
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