LexisNexis helps Darlington Building Society prevent financial crime

LexisNexis helps Darlington Building Society prevent financial crime

LexisNexis Risk Solutions will help Darlington Building Society onboard customers and bolster financial crime prevention and compliance screening.

Darlington Building Society will use LexisNexis’ RiskNarrative platform to improve its crime prevention strategy and enhance the online member portal experience and customer onboarding journeys.

The RiskNarrative platform enables businesses to detect fraud and identify risk through a single API and integrates into over 50 third party data sources to enrich risk decisioning.

This tool will allow Darlington Building Society to orchestrate document verification, PEP and sanctions monitoring, identity and address verification, risk ratings of applications, and deliver the ability to build and maintain internal watch lists.

Furthermore, Darlington will have the ability to future digitise their overall customer journey, including automated document verification and due diligence checks to enhance their customer experience and financial crime and fraud prevention processes.

Darlington Building Society chief risk officer David Bews said, “We are delighted to be partnering with LexisNexis Risk Solutions. Their platform will allow us to digitalise and streamline our onboarding journey for mortgage and savings applicants, while also allowing us to take control and future-proof our strategy in relation to financial crime prevention.

“The RiskNarrative solution allows us to react to fraud trends and amend our criteria as appropriate, so we can mitigate risk for the Society and our members now, and in the future.”

Darlington was looking to facilitate low-friction customer journeys whilst maintaining the highest levels of compliance and risk mitigation.

Speaking on the partnership, Darlington Building Society chief operating officer Chris Hunter added, “The partnership with LexisNexis Risk Solutions demonstrates the Society’s commitment to improving application processes for our members.”  

LexisNexis recently partnered with UK-based peer-to-peer lending marketplace Assetz Capital. Through the deal, Assetz will be able to enhance its KYC and AML detection capabilities and access productivity benefits.

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