Accuity and LexisNexis Risk Solutions have announced that they will be merging operations where the former will be a part of the LexisNexis Risk Solutions Group which operates in more than 100 countries.

Both businesses are a part of RELX, a global provider of information-based analytics and decision tools, and their respective focus areas are in the global financial crime compliance sector with complementary solutions.

LexisNexis Risk Solutions and Accuity will conduct business as usual in the short term while integration progresses.

Both entities said in a statement that their combined solutions will further leverage and extend high-value data and analytic capabilities from both companies to provide comprehensive risk management and payments solutions.

This will allow for future integrated offerings to better address critical customer needs across Know Your Customer, anti-money laundering and payments by providing more comprehensive global solutions to address the sophisticated and evolving methods criminals use to commit financial crimes.

Additionally, combining two differentiated and distinct data sets will enrich a joint product suite to drive greater customer value by enabling more actionable decisions through effective customer portfolio monitoring.

Colin Whitmore

Aite Group senior analyst Colin Whitmore, stated,

“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.”

Rick Trainor

Rick Trainor, CEO of LexisNexis Risk Solutions, Business Services, said,

“Accuity is an excellent strategic fit for Business Services. 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 optimise business processes.

The Accuity suites for payments and compliance professionals will complement our existing global solutions, including Financial Crime Compliance and Fraud and Identity Management.”

Featured image credit: Edited from Freepik

Source: https://fintechnews.sg/48876/fintech/lexisnexis-and-accuity-inks-deal-for-a-merger/