Connect with us

Top Stories

LexisNexis Risk Solutions and CRIF Form Alliance to Help Drive Financial Transparency

LexisNexis Risk Solutions and CRIF Form Alliance to Help Drive Financial Transparency

Integration of LexisNexis WorldCompliance Data into the CRIF SkyMinder platform to enhance Know Your Customer capabilities

LexisNexis® Risk Solutions, a global big data, technology and analytics company, today announced an alliance with CRIF SpA, one of the leading global providers of business information, whereby CRIF will integrate LexisNexis® Risk Solutions WorldCompliance™ Data product into its SkyMinder platform.

With more than 6,300 banks and financial institutions, 55,000 business clients and 310,000 consumers actively using CRIF services in 50 countries throughout Europe, the Americas, Africa and Asia, CRIF is one of the world’s largest banking and credit information companies. By integrating WorldCompliance Data into its SkyMinder platform, users will now have access to comprehensive financial crime compliance data for the mitigation of terrorism financing and money laundering risk. WorldCompliance Data includes comprehensive databases of companies and individuals associated with sanctions, enforcements, Politically Exposed Persons (PEPs) and state-owned entities, with over 35,000 news sources monitored for adverse media records.

“The alliance between LexisNexis Risk Solutions and CRIF SpA will be a critical driver of financial transparency, by preventing illicit actors from having access to finance and commerce or from moving the proceeds of their activities,” said Thomas C. Brown, senior vice president, U.S. commercial markets and global market development, LexisNexis Risk Solutions. “The current regulatory ecosystem is experiencing significant changes. Lawmakers, globally, are broadening their sights to include non-financial organizations, including telecoms, e-commerce, retail and pharmaceutical companies, as well as traditional financial institutions. All must comply with Know Your Customer (KYC) regulations to the same level as banks do, and transparency is key to keeping both the organization safe, as well as the broader global economy.

When it comes to assessing third-party risk, KYC processes play an essential role, as they enable companies around the world to implement regulatory obligations, protect their brand reputation and avoid costly enforcement fines. Through the integration of LexisNexis Risk Solutions WorldCompliance Data, SkyMinder users will be able to identify patterns of subjects who may be involved with companies and entities associated with financial crime risks. Our advanced, proprietary linking technology a sophisticated data analytics platform brings to life meaningful knowledge that helps customers make impactful decisions.”

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now