Legacy FA Case Study

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Financial Advisory Firm Screens Customers to Limit Its Compliance Risk

Identify risky or suspicious customers before onboarding.

AML Customer Screening

Legacy FA Pte. Ltd. Is a licensed financial adviser in Singapore. It delivers financial planning in both retail and business segments, handling everything from investments and income protection to debt management and succession planning.

As a regulated entity, it must adhere to all compliance and anti-money laundering regulations set by the Monetary Authority of Singapore (MAS). That means conducting thorough due diligence before onboarding any new customers and monitoring existing customers as well to ensure they are not involved in committing any financial crimes.

For Legacy FA, the challenge was how to meet these compliance requirements without causing friction for customers. They needed an effective and efficient solution that was also fast and efficient and could be easily integrated into the firm’s workflow.

The firm looked to LexisNexis® Risk Solutions for a high level of automation and a centralized platform in accomplishing its objectives. It chose LexisNexis® Bridger Insight® XG and WorldCompliance™ to screen and review its customers. 

Today, the LexisNexis platform provides Legacy FA with flexibility to screen customers individually or aggregate existing customers for batch screening. Fast, efficient processing means any friction is minimal, preserving a seamless customer experience.

By using Bridger Insight XG and WorldCompliance, Legacy FA:

  • Reduces its compliance risks
  • Protects its reputation
  • Minimizes fraud losses
  • Facilitates fast, easy access for trusted customers

Bridger Insight XG and WorldCompliance allows Legacy FA to meet the MAS’s regulations and safely grow its customer base and profitability. It has an efficient process for onboarding and reviewing customers to build on its success. 

Want to know more? Read the full Legacy FA case study.


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