Assetz partners with LexisNexis on financial crime management

Assetz Capital has partnered with LexisNexis Risk Solutions to help onboard new customers and reduce the risk of financial crime.

Assetz will use the RiskNarrative platform across its business to further enhance the peer-to-peer lender’s know-your-customer (KYC) and anti-money laundering (AML) capabilities.

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The RiskNarrative platform uses automation, AI and machine learning to provide a full financial crime lifecycle management solution. This includes carrying out multiple KYC and AML checks simultaneously to reduce the possibility of financial crime.

“Since deploying the platform, we have seen fantastic operational and productivity improvements with reductions in the time taken to complete KYC and AML checks, thereby reducing the time from application to fund, for our customers,” said Oliver Ward, group head of change and lending operations at Assetz Capital.

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Edward Vaughan, banking expert at LexisNexis Risk Solutions, added: “It’s brilliant to see the RiskNarrative platform help organisations of all sizes protect their customers from the effects of financial crime.

“I am delighted Assetz Capital are one of our customers, and that we can support their onboarding processes, especially when the cost of compliance is at an all-time high.

“We look forward to future initiatives with them as they deliver an exceptional and frictionless customer experience.”

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