LexisNexis® Risk Solutions today announced that its Bridger Insight™ XG solution, which helps organizations combat money laundering, has been selected as the XCelent Award winner for Service in Celent’s Evaluating the Vendors of Watchlist and Sanctions Solutions report.
Maintaining operations devoted to watchlists has become one of the most crucial areas of focus for financial institutions struggling to comply with AML and counterterrorist funding regulation.
"Celent gave us this award because we provide superior service and support to our customers, remaining vigilant about new and evolving global regulations," said Thomas C. Brown, senior vice president, Financial Services, LexisNexis Risk Solutions. "Bridger Insight XG is a critical solution for financial institutions trying to mitigate risk, achieve regulatory compliance and prevent financial crimes."
"Watchlist operations at financial institutions have become increasingly complex," says Neil Katkoy, PhD, Senior Vice President, Asia for Celent and author of the Evaluating the Vendors of Watchlist and Sanctions Solutions report. "Compliance departments seem to be constantly faced with new regulation. Of course, the financial institutions themselves seek to optimize the efficiency of their watchlist operations."
The latest report from Celent showcases how technology is evolving to meet the challenges institutions face in watchlist operations. Vendors have enhanced their solutions in terms of scalability, rules and analytics including self-learning algorithms alert/case investigation workflow and automation.
LexisNexis’ Bridger Insight™ XG helps companies effectively conduct due diligence and comply with global mandates, such as the Bank Security Act (BSA), USA PATRIOT Act, Bribery Act 2010 (UK), FCPA, FACTA, the European Union Third Directive, as well as government regulations such as CIP (Customer Identification Program) and KYC (Know Your Customer).
The LexisNexis® Bridger services are not provided by "consumer reporting agencies," as that term is defined in the Fair Credit Reporting Act (15 U.S.C. § 1681, et seq.) ("FCRA") and do not constitute "consumer reports", as that term is defined in the FCRA.
Accordingly, the LexisNexis® Bridger Insight service may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another purpose in connection with which a consumer report may be used under the FCRA.
Celent (celent.com) is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies (NYSE: MMC).
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (lexisnexis.com/risk) is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading global provider of professional information solutions across a number of sectors.
Media Contact: Dana Greenstein - Celent
P: 646-364-8254 - E: dgreenstein[.]celent.com.