I-payout to bolster security & compliance capabilities with LexisNexis

By Pavithra R

International Payout Systems (i-payout), a leading provider of customized SaaS software for global disbursements and related payment management solutions has announced that the company is leveraging the help of LexisNexis to bolster its in-house capabilities in all-important areas of regulatory compliance and risk assessment.

“We have brought onboard the Bridger Insight suite of solutions – a product of LexisNexis – as well as the LexisNexis World Compliance Data product. These powerful tools enable us to further insulate our clients and ourselves from risk – both reputational and financial,” said Eddie Gonzalez, i-payout President/CEO.

The move marks a significant step in support of the rapid global expansion that the company is experiencing in 2020. LexisNexis’ Bridger Insight and World Compliance Data products are being focused on enhancing capabilities in two areas:

The first area where the company will leverage LexisNexis help will be under the Know Your Customer (KYC) heading. In order to perform a successful identification of bad actors, there are established KYC guidelines to follow and measures to be taken prior to establishing a business relationship. Failure to follow mandated KYC processes will not only expose a company to financial and reputational harm but may result in a temporary or permanent shutdown of operations.

The second area here the LexisNexis products will be is to help navigate in the ever-changing regulatory environment. Authorities in the U.S. and around the world have increased efforts to combat money laundering and the funding of terrorism. With Anti-Money Laundering (AML) regulations and rules varying at the local, national and international levels, it is essential to stay in compliance with changing regulations and rules.

“One of our competitive advantages is plain to see – it’s the unmatched customizations that we provide to each client. They are plain to see because clients use them. What’s unseen by clients is the highly-focused diligence we bring to making sure that we only conduct business with thoroughly vetted entities and individuals and that we follow regulations fully in every jurisdiction that we service. These LexisNexis tools will help us be even better at something that we already do exceedingly well,” concluded Mr Gonzalez.

Founded in 2007, i-payout is a leading provider of global payments and financial technology innovation. The company focuses on providing management tools that optimize integration and streamline workflows, such as a developer-friendly API, eWallet and a management console that provides a high level of operational capability and custom reporting.