LexisNexis® Risk Solutions is a global provider of risk management and compliance solutions, has launched RiskNarrative™, an orchestration platform that empowers organizations to enhance their risk mitigation strategies, reduce fraud exposure, and ensure compliance with regulatory standards. RiskNarrative™ enables businesses to operate with greater efficiency, making it an asset for organizations looking to streamline their operations and strengthen their risk management practices.
The introduction of the LexisNexis RiskNarrative™orchestration platform addresses significant challenges faced by organizations due to fragmented operations. the platform enables seamless integration and streamlines processes by consolidating multiple customer onboarding, compliance, and risk-based workflows into a single Application Program Interface (API) and platform environment.
One of the key advantages of an orchestration platform like RiskNarrative™ is its ability to provide organizations with a unified, real-time view of customer risk. This holistic view incorporates various factors such as Know Your Customer (KYC), Know Your Business (KYB), Anti-Money Laundering (AML) activity, identity documentation, behavioral biometrics, and enhanced fraud detection and by integrating these components, organizations can make more informed risk decisions and respond more effectively to potential financial crime.
Yashi Saxena, Analyst at Quadrant Knowledge Solutions, stated that ” the launch of LexisNexis® RiskNarrative™ is a significant development in the field of customer lifecycle management and risk decision-making which will help users to with a unified view of customer risks, adapt to the dynamic threat landscape and comply with evolving regulations without any programming skills “
Author : Yashi Saxena Analyst at Quadrant Knowledge Solutions