LexisNexis Risk Solutions has partnered with iMeta Technologies in a bid to reduce financial crime risk for financial institutions.
The company will integrate iMeta’s Client Lifecycle Management (CLM) technology with its data capabilities. Together, this will increase efficiencies for customers and offer a more robust, all-encompassing bank compliance program.
As a result, LexisNexis can now provide a CLM platform specifically designed to adapt to a firm’s individual and constantly changing business requirements.
“With this union, our customers will now have the opportunity to receive our robust public records data and ID verification capabilities paired with an integrated platform to help them optimise and meet their KYC requirements,” says Daniel Wager, vice president, global financial crime compliance, LexisNexis Risk Solutions.
“This important alliance with iMeta provides the opportunity for one-stop-shopping for onboarding consumers and businesses, bringing together all the data sources needed in a way that will help our customers maximise the efficiency of their operational processes and massively increase the speed at which they can serve their consumers and businesses.”
This new platform will offer a number of benefits to customers, such as: reporting and dashboard capabilities; a tool that automatically associates business data with affiliates, clients and/or accounts; a single profile for each unique business or entity with connections between entities across all profiles highlighted, and a seamless integration of up-to-date third party data content.
Headquartered in Southampton, UK, iMeta is a provider of onboarding, client lifecycle and master data management software and services. Its solutions enables organisations to fully automate and manage the complex regulatory and operational data required to transact with their customers through its CLM platform.
The system complies with KYC and AML requirements and regulatory demands such as MiFIDII, DFA and EMIR – offering regulatory surety and delivering a single, accurate client view across the organisation.
Ben Marsh, CEO of iMeta Technologies, added: “As we endeavour to provide a seamless journey for our customers throughout the CLM process, the productivity gained from this new, single solution will pay enormous dividends. Automation is key to profitable growth and the minimisation of risk, and leveraging a single product for all a customer’s CLM needs is the key to those business goals.”
Headquartered in metro Atlanta, Georgia, LexisNexis Risk Solutions is a part of RELX Group. It provides data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government.
Copyright © 2018 RegTech Analyst
