LexisNexis Risk Solutions Recognized as a Luminary in Celent's Financial Crime Compliance Technology Watchlist Screening Report

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LexisNexis Risk Solutions is recognized as a Luminary in the Financial Crime Compliance Technology report by Celent for its industry-standard sanction screening solution, Firco Continuity, with enhanced scalability and cloud deployment capabilities.

ATLANTA, April 5, 2024 /PRNewswire/ -- LexisNexis® Risk Solutions has been recognized as a Luminary in the Technology Capabilities Matrix of the Financial Crime Compliance Technology: Watchlist Screening Edition report from Celent. The analyst's matrix designates Luminary as the top category, equivalent to a leadership ranking.

Celent focused its analysis on the capabilities of LexisNexis® Firco™ Continuity, an enterprise software utilized by tier 1 financial institutions, as well as payment service providers globally. The product's strengths and differentiators include highly scalable real-time transaction filtering and support for private and public cloud deployment.

Celent described Firco™ Continuity as "an industry-standard sanction screening solution optimized for real-time transaction filtering" that "provides out-of-the-box integration with SWIFT to support international wire transfers."

"Firco Continuity pioneered a number of screening innovations on their way to becoming an industry leader in the critical compliance function of sanctions," said Neil Katkov, Director in Celent's Risk practice and author of the report. "The recent scalability and cloud-ready enhancements now make the solution a viable choice for digital financial services and payments environments."

Celent highlighted the upgrades implemented in 2023 for Firco Continuity, supporting Kubernetes-enabled cloud deployment capability. This update also boosted scalability to 40+ million transactions per day, a significant increase from the 5 million transactions per day supported by the previous version of the software. 

"Firco Continuity is trusted by eight of the world's top 10 banks to help them keep pace with the growing number of sanctioned entities and remain ready for regulatory scrutiny," said Matt Michaud, Global Head of Financial Crime Compliance, LexisNexis Risk Solutions. "The enhancements made to Firco Continuity last year are designed to meet our top tier customers' needs for scalability and explainability, while also allowing them to deploy the solution in the cloud or on-premise, depending on their requirement. Celent naming LexisNexis Risk Solutions as a Luminary in this report is hard-earned recognition for our team, who works closely with customers to deliver solutions that support them in a changing regulatory environment."

About LexisNexis Risk Solutions   
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries 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.

Media Contact:
Ade O'Connor
+44 78 9091 8264
Ade.O'Connor@lexisnexisrisk.com 

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FAQ

What recognition did LexisNexis Risk Solutions receive in the Financial Crime Compliance Technology report?

LexisNexis Risk Solutions was recognized as a Luminary in the Financial Crime Compliance Technology report by Celent.

What is the key product highlighted in the report?

The key product highlighted in the report is LexisNexis Firco Continuity, an industry-standard sanction screening solution.

What are the strengths of LexisNexis Firco Continuity according to Celent?

Celent highlighted the product's strengths as highly scalable real-time transaction filtering and support for private and public cloud deployment.

Who described Firco Continuity as an industry-standard sanction screening solution?

Celent described Firco Continuity as an industry-standard sanction screening solution.

What upgrades were implemented in 2023 for Firco Continuity?

Upgrades implemented in 2023 for Firco Continuity included Kubernetes-enabled cloud deployment capability and scalability to 40+ million transactions per day.