LexisNexis Risk Solutions Named an Overall Leader in 2023 KuppingerCole Leadership Compass Report for Fraud Reduction Intelligence Platforms

Rhea-AI Summary

LexisNexis Risk Solutions named overall leader in fraud reduction intelligence platforms report

Positive

• LexisNexis Risk Solutions recognized as a leader in fraud prevention platforms, earning highest rank in all categories. The report highlights the company's comprehensive identity proofing, support for anti-money laundering, behavioral biometrics, and device intelligence features. The platform's integrated approach allows organizations to make reliable fraud and risk decisions and quickly adapt to changing fraud tactics.

Negative

• None.

ATLANTA, June 26, 2023 /PRNewswire/ -- LexisNexis® Risk Solutions has been named an overall leader in KuppingerCole's Leadership Compass: Fraud Reduction Intelligence Platforms (FRIP) report. The report recognizes LexisNexis Risk Solutions as a product, innovation and market leader and provides an independent review of fraud prevention platforms across several categories including vendor service functionality, prevention measures and innovative fraud solutions. It serves as a useful guide to help organizations find the solution that best meets their needs.

KuppingerCole Analysts evaluated 20 vendors for core FRIP capabilities such as identity proofing, credential intelligence, device intelligence, user behavioral analytics, behavioral/passive biometrics and bot detection and management. LexisNexis Risk Solutions earned the highest possible rank – Market Champion – across all categories: security, functionality, interoperability, deployment, usability, innovativeness, market position, financial strength and ecosystem.  

KuppingerCole reviewed the LexisNexis Risk Solutions Dynamic Decision Platform (DDP) and LexisNexis^® RiskNarrative™ products for its report. DDP uses digital identity intelligence, behavioral analytics, machine learning and case management for clients to continually improve their decisions about risk and trust. It provides enhanced authentication, identity verification and fraud decisioning and is a core component of the LexisNexis® Digital Identity Network®.

RiskNarrative is a customer lifecycle management tool specializing in financial crime compliance and fraud prevention. It leverages core technology, capabilities from DDP and alternative external services to prevent fraud at the point of application. It allows customers to do this via a single, unified platform utilizing a highly intuitive and easy-to-operate user interface for all financial lifecycle journeys with simple integration and no need for coding.

"The LexisNexis Risk Solutions infrastructure allows for maximum scalability. With comprehensive FRIP solutions and combined, easy-to-consume packages, all organizations should have LexisNexis Risk Solutions on their shortlist when searching for fraud reduction technologies," said John Tolbert, KuppingerCole analyst.  

According to the report, LexisNexis Risk Solutions strengths include:

• Built-in comprehensive identity proofing and support for third-party services
• Support for anti-money laundering and Know Your Customer processes, mule account detection and exhaustive sanctions screening
• Built-in behavioral biometrics
• Excellent device intelligence features, including detecting known users on new devices and detecting SIM card swaps and IMEI (international mobile equipment identity) anomalies
• Protecting against not only fraud types affecting financial institutions, but also against most of the major fraud types committed against ecommerce companies

"An anti-fraud platform approach that integrates digital and identity assessment capabilities with behavioral biometrics and identity proofing allows organizations to make more reliable fraud and risk decisions and quickly adjust their strategies as fraud tactics change," said Kimberly Sutherland, vice president, fraud and identity strategy, LexisNexis Risk Solutions. "Our layered approach to fraud prevention and authentication uniquely positions us to solve our clients' challenges."

"Financial crime risk, regulations and fraud vectors shift constantly and demand operational agility for compliance teams to continuously adapt," said Ryan Morrison, vice president, platform strategy, LexisNexis Risk Solutions. "We are pleased to receive this recognition for RiskNarrative's ability to place business users firmly in control through no-code configuration, natural language, drag and drop services and apps, a simple user interface and easy integration. Our platform empowers small to mid-sized companies to intelligently orchestrate smooth customer journeys while detecting and preventing financial crime and fraud."

Explore LexisNexis Risk Solutions Dynamic Decision Platform (DDP) and RiskNarrative products.

About LexisNexis Risk Solutions 
LexisNexis^® Risk Solutions includes seven brands that span multiple industries and sectors. We harness the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.

About KuppingerCole Analysts
KuppingerCole founded in 2004, is a global Analyst Company headquartered in Europe focusing on Information Security and Identity and Access Management (IAM). KuppingerCole stands for expertise, thought leadership, outstanding practical relevance, and a vendor-neutral view on the information security market segments, covering all relevant aspects like Identity and Access Management (IAM), Governance & Auditing Tools, Cloud and Virtualization Security, Information Protection, Mobile as well as Software Security, System and Network Security, Security Monitoring, Analytics & Reporting, Governance, and Organization & Policies. For more info visit www.kuppingercole.com.

Media Contact: 
Marcy Theobald 
678.860.3639   
marcy.theobald@lexisnexisrisk.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lexisnexis-risk-solutions-named-an-overall-leader-in-2023-kuppingercole-leadership-compass-report-for-fraud-reduction-intelligence-platforms-301857458.html

SOURCE LexisNexis Risk Solutions

FAQ

What is LexisNexis Risk Solutions recognized for in the report?

LexisNexis Risk Solutions is recognized for its comprehensive identity proofing, support for anti-money laundering, behavioral biometrics, and device intelligence features.

What is the advantage of LexisNexis Risk Solutions' integrated approach?

The integrated approach allows organizations to make reliable fraud and risk decisions and quickly adapt to changing fraud tactics.

What products were reviewed in the report?

The report reviewed LexisNexis Risk Solutions' Dynamic Decision Platform (DDP) and RiskNarrative products.

What is the purpose of RiskNarrative?

RiskNarrative is a customer lifecycle management tool specializing in financial crime compliance and fraud prevention.

What are the strengths of LexisNexis Risk Solutions according to the report?

The strengths include comprehensive identity proofing, support for third-party services, anti-money laundering and Know Your Customer processes, behavioral biometrics, and device intelligence features.