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AML / KYC
05:11 PM 4th November 2024 GMT+00:00
LexisNexis ThreatMetrix Wins Best Anti-Fraud Solution at 2024 Regulation Asia Awards
Reporting by Editors
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Article Summary
LexisNexis ThreatMetrix has been awarded Best Anti-Fraud Solution at the 7th Regulation Asia Awards for Excellence 2024, recognising its exceptional ability to detect and prevent fraud while aiding regulatory compliance and risk management for financial institutions.
The platform's advanced AI-driven analytics and multi-layered risk assessment model enhance early fraud detection, reduce false positives, and allow institutions to respond swiftly to emerging threats, aligning with regulatory standards.
The award highlights the importance of user-centric design and adaptability in financial technology solutions, as emphasised by judges and industry leaders, underscoring the platform's role in fostering a secure global financial system amidst growing fraud risks.
This summary has been produced by RegAI.
LexisNexis ThreatMetrix has been awarded Best Anti-Fraud Solution at the 7th Regulation Asia Awards for Excellence 2024.
The Best Anti-Fraud Solution category recognises technology vendors whose solutions demonstrate an exceptional ability to detect and prevent fraud, reduce the burden of regulatory compliance, and streamline risk management. This award celebrates platforms that leverage data-driven innovation to provide financial institutions with the tools they need to identify and mitigate fraud risks efficiently and effectively.
The ThreatMetrix fraud platform was recognised for its industry-leading technology, extensive data capabilities, and customisable features that empower financial institutions to adapt to a rapidly changing fraud landscape and address a key priority for regulators and policymakers globally. With sophisticated AI-driven analytics, the platform excels in early fraud detection, helping reduce false positives and providing users with enhanced accuracy in identifying potential risks.
The platform’s multi-layered risk assessment model, enriched with global data sources, ensures institutions can respond to emerging threats with agility and precision. Furthermore, its user-centric design enables customisation to meet specific regulatory and operational requirements, making it a trusted tool across the industry. The Regulation Asia Awards judges highlights include the platform’s high detection accuracy, adaptability to regulatory standards at the jurisdictional level, and efficiency benefits.
“LexisNexis Risk Solutions’ anti-fraud platform stands out for its ability to combine advanced data analytics with adaptability to diverse regulatory needs,” said a judge on the Awards panel. “The platform has demonstrated significant accuracy and efficiency benefits, while its customisability shows the high importance LexisNexis places on being user-centric in its solutions design.”
Bradley Maclean, Co-founder of Regulation Asia and Chair of the Awards Committee, emphasised the significance of the award: “As financial fraud risks grow in complexity, firms like LexisNexis Risk Solutions are indispensable in fostering a secure and resilient global financial system. Its approach to adaptive fraud detection and regulatory alignment provides institutions with a reliable toolset to navigate and mitigate risks in an increasingly challenging environment.”
About the Regulation Asia Awards for Excellence 2024
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2024 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000+ subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.
Visit www.regulationasia.com or connect via LinkedIn or Twitter.
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