How does Bridger Insight XG compare to FacctCheck - Customer Due Diligence?

Bridger Insight by LexisNexis Risk Solutions is a comprehensive compliance, risk mitigation, and due diligence platform designed to help organizations meet their regulatory obligations while minimizing operational complexities. Primarily serving financial institutions, insurance companies, and other regulated entities, Bridger Insight delivers robust screening and monitoring capabilities to identify high-risk individuals, entities, and transactions efficiently and accurately. It addresses critical compliance mandates such as anti-money laundering (AML) regulations, Know Your Customer (KYC) requirements, counter-terrorist financing directives, and sanctions screening obligations imposed by authorities like the U.S. Office of Foreign Assets Control (OFAC) and other global regulatory bodies.

One of the key features of Bridger Insight lies in its advanced watchlist screening capabilities. The solution continuously updates and references a wide range of watchlists—including global sanctions lists, politically exposed persons (PEPs), adverse media sources, and other proprietary datasets—to deliver comprehensive risk assessments. By leveraging sophisticated matching algorithms and “fuzzy logic” techniques, the platform can detect potential matches even where variations in name spellings, incomplete data, or cultural naming conventions exist. This level of precision not only reduces the chance of missing truly risky parties but also helps minimize false positives, enabling compliance teams to focus on legitimate red flags and accelerate decision-making processes.

Bridger Insight also integrates seamlessly with core banking systems, customer relationship management (CRM) platforms, and other internal compliance and case management applications. This interoperability supports a more holistic and efficient workflow by allowing data to flow freely between systems, thereby streamlining investigations and enhancing collaboration among compliance, risk, and legal teams. In addition, the platform’s user-friendly interface, configurable settings, and robust reporting capabilities empower organizations to tailor their compliance controls to their unique risk profiles and evolving regulatory obligations.

Ultimately, Bridger Insight’s comprehensive dataset coverage, flexible deployment options, and ongoing regulatory updates contribute to a nimble and scalable compliance infrastructure. By enabling organizations to proactively identify hidden risks, maintain robust due diligence procedures, and confidently meet global regulatory standards, Bridger Insight plays a critical role in safeguarding both their operations and reputations.

Facctum's Customer Due Diligence solution, branded as FacctCheck, simplifies and accelerates the KYC process by automating data sourcing and providing real-time event monitoring. This innovative solution enables institutions to shift from reactive KYC approaches to a proactive, perpetual KYC ecosystem, improving operational efficiency and customer satisfaction.

FacctCheck addresses the challenges of traditional due diligence methods, such as elongated case times, poor data quality, and constant customer friction. By leveraging automation and advanced data aggregation, it provides institutions with the tools they need to meet evolving regulatory expectations and deliver robust KYC compliance.

Key Benefits:

- Accelerates the KYC process, minimising delays and reducing compliance risk through accurate and timely data processing.
- Enables a perpetual KYC ecosystem with real-time trigger monitoring, allowing precise and immediate decision-making.
- Offers on-demand delivery of customer profiles from authorised sources, ensuring adherence to institutional policies and reliable data.
- Reduces operational costs by up to 40% per case through efficient automation and streamlined workflows.
- Minimises customer outreach requirements and enhances satisfaction by pre-filling data from public sources.
- Scalable and flexible, accommodating the varying needs of banks’ policies and procedures for tailored KYC management.

Features:
- CDD Profile Builder: Aggregates data from multiple public sources to build on-demand customer profiles, assigning confidence levels to data in accordance with institutional policies.
- Real-Time KYC Event Monitoring: Monitors subscribed entities daily for data changes, ensuring banks always have the most up-to-date information in their systems for accurate KYC decisions.
- Trade Address Validation: Verifies trade addresses through multiple sources, ensuring the address is valid and appropriate for the customer’s business type. Highlights virtual addresses, co-working spaces, or law offices for additional insights.
- Real-Time Ownership Hierarchy: Extracts ownership hierarchy data from company filings in real-time, fully customisable to meet bank-specific requirements, such as ownership thresholds and share types.

• 🏆 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)

• 🏆 Ones to Watch by Chartis (2023)

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

Facctum is a risktech company founded in 2021, specializing in Financial Crime Compliance (FCC) and Anti-Money Laundering (AML) solutions for the financial sector. Facctum are headquartered in London, England, with operations in Dublin, Pune, and Bangalore.

The company offers a suite of cloud-delivered enterprise AML solutions, including:

FacctList: A watchlist management platform that streamlines data feeds from various sources in near-real time
FacctView: A cloud-first screening solution for agile and accurate risk profiling
FacctShield: A quick and efficient transaction screening tool for modern payments landscapes
FacctGuard: An advanced transaction monitoring system that detects threats in real-time and uncovers complex behaviors
FacctCheck: A customer due diligence and KYC solution that automates data sourcing and provides continuous event monitoring

Facctum's technology is designed to improve compliance effectiveness, enhance risk detection, and increase operational efficiency. The company's SaaS-first approach and focus on explainability make it an attractive option for entities looking to modernize their financial crime prevention strategies.