Advanced Filtering Intelligence and Risk Scoring for Optimal Account Screening
Protect your institution from risk by enhancing your screening process to strategically target risk, reduce false positive alerts, streamline investigations, and boost operational efficiency.
False positive alerts are a common challenge for many large financial institutions and corporates as they carry out their account screening activities. However, excessive false positives create operational inefficiency, delay investigations and divert attention from entities that are legitimately high risk. To streamline customer screening and eliminate alert overload, you need the right tools.
LexisNexis® Firco Insight is a powerful tool for screening customers and third parties while efficiently managing alerts. It combines fast processing with advanced filtering using our proprietary risk scoring technology. You get greater risk intelligence and detection for a deeper understanding of customer accounts. Use that information to weigh the value of the customer’s business against any potential risks you’ve surfaced.
Benefits
Firco Insight enables you to:
- Quickly identify and prioritize high-risk entities in your organization
- Improve alert management
- Streamline investigation workflow
- Optimize compliance resources
- Reduce false positives to under 1%
- Speed account resolution
- Boost operational efficiency
Features
Leveraging artificial intelligence (AI) techniques, Firco Insight reduces false positives and prioritizes matches by risk severity and probability. It enables you to pinpoint high-risk accounts and meet financial crime regulatory requirements with confidence.
Firco Insight is powered by the Firco Entity Resolution Filter, which identifies the highest risk, most relevant alerts. Results are graphically displayed for a clear view of the alerts based on two indices: the Exposure Index ranks the potential reputational or regulatory risk, while the Strength Index ranks the likelihood of a true match.
Want to know more? Download our Firco Insight brochure.