Automate Risk Assessment for Financial Crime Compliance

Digital commerce continues to accelerate and digital channels now carry a significant portion of transactions. While this digital environment offers convenience for consumers, the shift is creating opportunities for financial crime and driving increased due diligence volume. Now more than ever, compliance teams need to find ways to reduce manual review time and drive operational efficiencies. As consumers solidify their e-commerce preferences, businesses need a strategy that balances exceptional customer experience with effective compliance workflows.  

While current automation technologies can perform analysis on data to inform compliance decisions and support efficiencies, most solutions stop short of making decisions on behalf of compliance reviewers. Robotic Process Automation (RPA) can help with lower-level tasks, such as data entry and web scraping, but screening analysts can be left with manual decision tasks that machines can’t readily perform.

Support your compliance team by automating compliance tasks through strategically-implemented business rules.

• Tunable risk engine: LexisNexis® Automated Risk Assessment takes risk-related data and creates a workflow to support automated decision-making.
• Automated risk decisioning: A simple pass/fail status is provided for transactions based on the automation index configuration.
• Easy-to-read decision reporting: Appended full report output along with recommended next-step actions for additional research where applicable.
• Convenient workflow customization: Customize workflow rules to align with your unique organizational verification, operational and risk assessment policies.
• Sits alongside conventional RPA applications: Augments the capabilities of your existing RPA platforms.

Reduce costs of financial crime compliance – An automation index configuration and process improvement can equate to lower false positive rates and more accurate risk ratings that reduce the cost of financial crime to your business
Improve quality – Automation means transactions are processed consistently.
Optimize productivity – Automated Risk Assessment can eliminate up to 80% of the time spent on manual review processes while improving workflow performance. 
Accelerate time to value – Automated Risk Assessment is pre-configured to automate existing workflows in LexisNexis Risk Management Solutions® and LexisNexis® AML Insight™. It can be launched quickly and easily to begin improving your operational efficiency immediately.

LexisNexis Automated Risk Assessment offers an immediately deployable solution to reduce manual review times, operating costs and regulatory exposure using pre-configured workflows.

Learn how automated risk assessments can help to reduce fraud costs by streamlining manual due diligence and investigations.