UK-based Hodge Bank has joined forces with LexisNexis Risk Solutions to automate customer onboarding and integrate AML screening and transaction monitoring.

Data and analytics company LexisNexis Risk Solutions has been approached to provide Hodge with a full end-to-end solution for customer onboarding and ongoing monitoring, incorporating AML screening, transaction monitoring, and case management, all within a single platform.

Hodge is an independently owned bank offering a range of specialist mortgage and savings products to private and commercial clients. It has more than 85,000 customers across the UK. The bank was looking to augment its onboarding and ongoing know your customer (KYC) reviews and tapped LexisNexis Risk Solutions to help.

Increasing onboarding speed while maintaining security

The RiskNarrative orchestration platform will help Hodge onboard new customers faster and more efficiently, without compromising on risk. The platform will help to ensure the bank protects its customers effectively and supports a great user experience, whilst helping the bank to meet its compliance obligations. 

RiskNarrative is used by a range of different industry sectors to confidently onboard customers, detect fraud, and identify risk, including banks, lenders, ecommerce providers, and payments services firms. 

As part of its ongoing digital transformation programme, RiskNarrative will first be deployed into the bank’s most mature product, Savings, and later into the wider ecosystem for B2B customer onboarding.

Source: ThePayPers ; FinTechFutures