LexisNexis Risk Solutions receives sanctions screening award, ranked fourth in Chartis Research’s inaugural Financial Crime and Compliance 50

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LexisNexis Risk Solutions has received an individual solutions award for sanctions screening in the inaugural Chartis Financial Crime and Compliance 50, 2024 (FCC50, 2024). Chartis Research also ranked LexisNexis Risk Solutions as fourth overall in its report.

Chartis’ FCC50 ranking and report mark the first time it has ranked and recognised vendors in the FinCrime and compliance space, a market it believes will exceed $26 billion by the end of 2025. Chartis’ detailed analysis for FCC50 examines organisations’ technological advances and strategic direction to offer a complete view of how market leaders are driving transformation in this sector. The portfolio of financial crime compliance solutions assessed by Chartis included:

• LexisNexis Firco Continuity: A comprehensive and scalable real-time transaction screening solution that delivers sanctions compliance, lowers control costs and ensures readiness for regulatory scrutiny. It offers businesses an end-to-end solution, handling everything from data preparation to transaction screening auditing, including filtering and alert remediation.
• LexisNexis Bridger Insight XG: It empowers organisations to conduct screening and robust enhanced due diligence on an individual or business with a comprehensive perspective that considers global sanctions and enforcements, politically exposed persons and associates, adverse media and state-owned companies, all in a single request.
• LexisNexis RiskNarrative: A unified platform that allows users to manage questionnaires and information requests from customers, conduct risk rating and access business data to facilitate onboarding. The platform also facilitates screening of vendors and other third parties throughout the vendor life cycle. Organisations can automate the ongoing detection of events that may alter the credit, fraud and compliance risk profile of a business customer.

"Organisations are challenged with staying updated on sanctions activity. Failure to comply not only results in fines, penalties and legal action, but also triggers a cascade of issues, including a loss of business opportunities and damage to relationships with customers, suppliers and partners,” said Matt Michaud, global head of financial crime compliance at LexisNexis Risk Solutions. “This award from Chartis for our sanctions screening products, coupled with our overall placement among the top vendors in the FCC50, underscores our commitment to delivering innovative screening products that enhance risk management and compliance processes for our customers."

“The ranking of fourth LexisNexis Risk Solutions achieved in Chartis’ inaugural Financial Crime and Compliance 50 reflects not only its position in this space, but also innovation that has enabled it to grow in a competitive market,” said Nick Vitchev, Research Director at Chartis. “Its highly scalable and customisable solutions can address a broad range of use cases, and the company has particular strengths in sanctions screening, for which it won an FCC50 award. In orchestration, its RiskNarrative platform has been a game-changer, combining a broad set of data and solutions in a customer-centric ecosystem.”