Manage Risks and Protect Your Reputation With Robust KYC Processes
Use Online Compliance for thorough due diligence checks.
Fast, reliable KYC screening
Today’s banks, non-banking financial institutions and corporations must perform comprehensive due diligence on their customers and counterparties as part of their Know Your Customer screening process. It’s important to investigate any entity you do business with and ensure that they are not associated with fraudulent or terrorist-supporting organizations.
Compliance isn’t to be taken lightly. A lack of robust Know Your Customer (KYC) processes exposes you to risk of fines and reputational damage. Despite the potential for severe repercussions, many organizations rely on outdated or manual search processes that can be time-consuming, inconsistent and costly.
LexisNexis® Online Compliance simplifies KYC screening. An online lookup tool, it gives you fast, easy access to comprehensive data on sanctions, politically exposed persons (PEPs), adverse media and enforcement agencies. Advanced filtering technology helps improve screening accuracy, reducing the number of false positive alerts for transactions and customer records.
Benefits
With access to comprehensive records as well as a wealth of efficiency-improving functionality, Online Compliance helps you to significantly meet and exceed your KYC requirements. It offers fast, accurate screening, enabling you to:
- Reduce risk with a complete, current picture of your customers and counterparties
- Replace inefficient and costly manual processes while reducing false positive hit rates
- Onboard customers more quickly for a better user experience
- Validate passport MRVs consistently and reliably during client onboarding
- Deliver rapid reviews and alert decisions across language barriers
- Support business growth
Features
Online Compliance is easy to use, delivering superior information, processes and performance. Its unique features and functionality allow you to:
- Check exact, proximal, phonetic, and synonym matches
- Get up-to-date information from over 1,300 enforcement agencies, 35,000 publications, court filings, company records and all global sanctions lists
- Apply configurable search functions that reduce false positives in line with your own risk-based approach
- Conduct single, multiple or keyword searches that save time and help you find true matches against your primary identification data
- Access comprehensive data on more than 3 million entities in 250 countries and territories
- Search an up-to-date PEP database, with the U.S. OFAC list updated every 24 hours
- Translate original source content
- Access the tool and work in multiple languages
Want to know more? Download our Online Compliance brochure.