How does Bankers Almanac compare to Customer Screening?

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The table below summarises some key information about Bankers Almanac from LexisNexis Risk Solutions and Customer Screening from ComplyAdvantage, giving you some points to compare.

Bankers Almanac Customer Screening
Product Use-cases
KYC
KYC
Product Description

Bankers Almanac, offered by LexisNexis Risk Solutions, provides critical insights into financial institutions and global banking networks. The platform offers comprehensive data on correspondent banking relationships, regulatory risk assessments, and institution-level compliance requirements.

Designed to support due diligence and compliance efforts, Bankers Almanac integrates seamlessly with risk management workflows, providing detailed reporting and actionable intelligence. This solution helps organizations mitigate risks, ensure compliance, and enhance their understanding of global financial ecosystems.

ComplyAdvantage's Customer Screening solution streamlines the process of identifying high-risk individuals by automating checks against global watchlists, PEP databases, and adverse media sources. This solution ensures compliance with know-your-customer (KYC) and anti-money laundering (AML) regulations while reducing the time and effort required for manual screening.

The platform provides real-time risk assessments with instant alerts for flagged individuals, enabling swift action to mitigate potential risks. Its advanced matching technology minimizes false positives, ensuring that compliance teams can focus on genuine threats. Comprehensive audit trails and reporting tools support regulatory documentation and compliance reviews.

With its robust capabilities, ComplyAdvantage's Customer Screening solution enhances due diligence workflows and strengthens risk management practices across industries.

Vendor LexisNexis Risk Solutions ComplyAdvantage
Vendor Awards
  • 🏆 Ranked - Strong Performer by Forrester (2024)
  • 🏆 Best Overall AI Company by AI Breakthrough Awards (2024)
  • 🏆 Named on RegTech100 by FinTechGlobal (2024)
  • 🏆 Financial Crime and Compliance50 2024 - Ranked 4 by Chartis (2024)
  • 🏆 RiskTech100 2024 - Ranked 13 by Chartis (2024)
Vendor Headquarters United States United States
Vendor Founded 1970 2014
About the vendors

LexisNexis Risk Solutions is a global data and analytics company that provides information-based analytics, decision tools, and data management services to help organizations make informed decisions, stay compliant, reduce risk, and improve operations

ComplyAdvantage, founded in 2014, is a RegTech company that specializes in providing AI-driven financial crime risk detection and anti-money laundering (AML) solutions. ComplyAdvantage leverages artificial intelligence, machine learning, and natural language processing to offer real-time risk insights and AML data solutions.

The company provides a range of services, covering:

- AML onboarding and monitoring
- Transaction monitoring
- Payment screening
- Politically exposed persons (PEPs) and adverse media screening
- Real-time sanctions and watchlist screening

ComplyAdvantage has experienced significant growth since its inception, raising $88.2 million through three rounds of venture capital funding and expansion of its operations with offices in the United States, Singapore, and Romania. The company serves over 1,600 businesses across the globe, including major financial institutions like Santander and Affirm, and clients have reported a 70% reduction in false positives and a 50% decrease in onboarding cycle time.

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