LexisNexis® Risk Solutions Recognized as a Luminary in Celent’s Financial Crime Compliance Technology: Watchlist Screening Edition

LexisNexis® Risk Solutions has been recognized as a Luminary in the Technology Capabilities Matrix of the Financial Crime Compliance Technology: Watchlist Screening Edition report by Celent. This distinction places LexisNexis® Risk Solutions at the top category, signifying a leadership ranking in the field.

Celent examined the capabilities of LexisNexis® Firco™ Continuity, an enterprise software widely utilized by tier 1 financial institutions and payment service providers globally. The software’s strengths and unique features include highly scalable real-time transaction filtering and support for both private and public cloud deployment.

According to Celent, Firco Continuity is considered an industry-standard solution for sanction screening, optimized for real-time transaction filtering. The software also boasts out-of-the-box integration with SWIFT for supporting international wire transfers. Neil Katkov, Director in Celent’s Risk practice and author of the report, commended Firco Continuity for its innovative screening enhancements that have positioned it as an industry leader in compliance functions related to sanctions.

In recent updates in 2023, Firco Continuity has further improved its capabilities with added support for Kubernetes-enabled cloud deployment and increased scalability to handle over 40 million transactions per day. This is a substantial improvement from the 5 million transactions per day supported by the previous version.

Matt Michaud, Global Head of Financial Crime Compliance at LexisNexis Risk Solutions, emphasized the trust placed in Firco Continuity by eight of the world’s top 10 banks. The recent enhancements aim to address the evolving needs of top-tier customers, providing scalability and explainability while offering flexibility in deployment options, whether in the cloud or on-premise. The Luminary recognition from Celent is a testament to LexisNexis Risk Solutions’ dedication to delivering effective solutions to clients in a dynamic regulatory landscape.