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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SOURCE LexisNexis Risk Solutions
