Accuity and LexisNexis Risk Solutions have confirmed that they’re planning to merge their business operations.
Accuity will reportedly become a part of the LexisNexis Risk Solutions Group which currently operates in over 100 different countries.
Both companies are a part of RELX, a multinational provider of information-based analytics and decision tools. The focus areas of these firms include the global financial crime compliance industry with various complementary solutions.
LexisNexis Risk Solutions and Accuity noted that they would be carrying out business activities as usual in the short-term while they work on integrating their operations.
This merger will allow for improved integrated offerings that are able to better address customer requirements such as Know Your Customer, anti-money laundering and payments. Both companies will be offering comprehensive global solutions in order to address the evolving problems related to financial crimes.
The merger should help with combining two differentiated and distinct data sets that will support an extensive product suite that will offer greater customer value by enabling more actionable decisions via customer portfolio monitoring.
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 cybercriminals use to orchestrate 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, Senior Analyst at Aite Group, remarked:
“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, CEO at LexisNexis Risk Solutions, Business Services, noted that Accuity is an “excellent strategic fit” for Business Services. Both firms share a common vision or goal, which is to support financial transparency and inclusion across the globe by using innovative tech and comprehensive data to assist clients with controlling risk, enhancing and empowering compliance and optimizing business processes, Trainor added.
He also mentioned that the Accuity suites for payments and compliance professionals will be complementing their global solutions, which includes Financial Crime Compliance and Fraud and Identity Management.
