Risk-based AML and Compliance Service that Flexes to your Workflow
For AML, Compliance and Financial professionals, it is no longer an option not to know who your clients are... The risks are high, and organizations with limited knowledge of their existing and prospective customers can face regulatory fines, a tarnished corporate image and increased losses associated with fraud and money laundering, all of which can erode trust and diminish the bottom line. Bridger Insight XG helps ensure AML compliance.
FINTRAC has become more assertive in enforcing anti-money laundering regulations, and all reporting organizations should be keeping a close eye on who they are doing business with.
"On FINTRAC's side of the ledger, we will be moving from outreach
and awareness building to more enforcement action"
– Jeanne M. Flemming, Director, FINTRAC, 2010This makes the overall efficiency and effectiveness of a company's regulatory compliance program and identity risk management more important than ever. Fortunately, there's a solution that can help — Bridger Insight XG.
Bridger Insight XG is different from the watchlist screening tool you are using
- 10,000 to 10 million searches — automate batch processing to monitor clients constantly
- Customized risk tolerance — set name and field match requirements for each list according to your risk tolerance
- Integrated watchlists — check against your internal and external PEFP, risk and watchlists
- Compatible with your policies — manage matches and alerts the same way you do today
- Adaptable to your workflow — alerts and flagged accounts can be automatically sent to whomever you wish, with instructions
The LexisNexis Bridger Insight XG is not a consumer report or a credit report. Reports are compiled from public source data to assist you in your identification verification due diligence.
Bridger Insight XG simplifies the real-time and batch screening of new and existing customers through access to the latest technologies and decision-making tools, including identity verification, regulatory compliance and enhanced due diligence applications. Bridger Insight XG can add to your peace of mind by ensuring you know more about who you are doing business with.
Identity Verification: Get More True Matches and Fewer False Positives
Verifying a customer's identity can be a complex process. Bridger Insight XG is known for its easy-to-use interface, and allows you to manage your AML compliance workflow with ease, working within your existing policies, checking against standard lists, your own watch lists and any outside lists you currently use. Audits become much easier because of the archiving capabilities in Bridger Insight XG. Your decisions can be justified, even a long time later when the auditor shows up!
Match Rates
The Bridger Insight XG fuzzy-matching algorithm results in extremely low false-positive rates — often less than one percent. With its configurable watchlist searching capabilities, Bridger Insight XG enables you to mitigate your risk in a manner best suited to your organization. The sophisticated matching algorithm may help you find more potential matches and fewer false positives. You can configure this powerful tool to help reduce risk while ensuring compliance.
Easy-to-Read Reports
Multiple results are returned in an easy-to-read format and feature a configurable risk score that is mapped to a color-coded "risk meter".
Superior Watchlist Screening Capabilities
LexisNexis® Bridger Insight XG provides access to more than 25 updated watchlists, allowing you to screen your customers in real time or via batch processing. LexisNexis Bridger Insight XG also allows you to import nearly any additional list or data you choose easily — including the OSFI Consolidated List, OSFI’s Country List, Unauthorized Banking List, UN Consolidated List, OFAC Specially Designated Nationals and Blocked Persons List , custom hotlists and fraud lists.
A few of the watchlists you can search against include:
- OFAC Specially Designated Nationals and Blocked Persons List
- United Nations Consolidated List
- Terrorist Exclusion List
- Unauthorized Banking List
- Bureau of Industry and Security List
- Canada's Office of the Superintendant of Financial Institutions (OSFI)
Additional lists, such as your internal lists, the Financial Crimes Enforcement Network (FinCEN) 314(a), can be imported as needed.
Regulatory Compliance: Protect Your Reputation and the Bottom Line
Financial institutions, gaming and insurance remain leading areas of focus for compliance issues. Areas such as new accounts, wire transfers and letters of credit should be checked as the transactions occur. The entire client database should be rechecked whenever compliance agencies update their watchlists.
Meeting regulatory requirements can be costly; failing to comply can be even more expensive, affecting both your brand value and the bottom line. Bridger Insight XG offers case management to help you automate your compliance workflow and verify that your processes are being followed. By analyzing management reports, you can help realize significant savings by more efficiently managing false positives. In addition, the archiving capabilities and audit reports can help support regulatory examinations.
The LexisNexis Bridger Insight XG is not a consumer report or a credit report. Reports are compiled from public source data to assist you in your identification verification due diligence.