LexisNexis Risk Solutions and Accuity merge operations
By Pavithra R
LexisNexis Risk Solutions, the global data analytics provider, has announced its merger with Accuity, creating one of the largest global providers of financial crime compliance solutions, operating in more than 100 countries.
Both businesses are RELX companies and are leaders in their respective focus areas in the global financial crime compliance sector with complementary solutions.
LexisNexis Risk Solutions provide information-based analytics, decision tools and insights that help businesses and governmental entities reduce risk and improve decisions to benefit people globally. Accuity powers compliant and assured client transactions to help build an interconnected and trusted financial ecosystem through global payment services, financial crime screening, and financial asset verification and fraud prevention solutions for government benefit programs.
“In today’s evolving world of financial crime and risk, there is a growing industry-wide requirement for compliance, risk and payments solutions that seamlessly use and integrate with comprehensive, trusted and in-depth data sets. The combined offerings of Accuity and LexisNexis Risk Solutions financial crime compliance and risk offerings promise to meet this growing need,” said Aite Group senior analyst Colin Whitmore.
The merger is expected to provide various benefits, including:
- The combined solutions further leverage and extend high-value data and analytic capabilities from both companies to provide comprehensive risk management and payments solutions.
- Future integrated offerings better addressing critical customer needs across Know Your Customer (KYC), anti-money laundering(AML) and payments by providing more comprehensive global solutions to address the complex and evolving methods criminals use to commit financial crimes.
- Combining 2 differentiated and distinct data sets will enrich a joint product suite to drive more excellent customer value by enabling more actionable decisions through effective customer portfolio monitoring.
- The combined organization will create a large global provider of compliance risk solutions.
“Accuity is an excellent strategic fit for our business. Both companies share a common vision – enabling financial transparency and inclusion around the world using innovative technology and comprehensive data to help our customers control risk, enhance and empower compliance and optimize business processes. The Accuity suites for payments and compliance professionals will complement our existing global solutions, including Financial Crime Compliance and Fraud & Identity Management,” said Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services.
“Combining Accuity’s benefits eligibility compliance solutions with our fraud and identity offerings provides even greater stewardship opportunities for our U.S. federal and state government customers. Our combined solutions will further improve efforts to effectively fight fraud, waste and abuse across a vast array of programs like Medicaid, Unemployment Insurance, Temporary Assistance for Needy Families, Supplemental Nutrition Assistance Program and other food and housing programs,” added Haywood Talcove, CEO of the Government group of LexisNexis Risk Solutions.
Established in 1997, Headquartered in Georgia, LexisNexis Risk Solutions provide information-based analytics, decision tools and insights that help businesses and governmental entities reduce risk and improve decisions to benefit people globally. The firm’s client portfolio includes diverse industry verticals including insurance, financial services, healthcare and government.
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