How does LexisNexis TrueID compare to Abrigo Fraud Detection Platform?

LexisNexis TrueID provides advanced identity verification capabilities, ensuring organizations can accurately verify individuals while meeting compliance requirements. The solution uses document verification, biometric analysis, and real-time data cross-referencing to validate identity claims with high accuracy.

TrueID enhances customer onboarding processes and mitigates risks associated with identity fraud. Its integration capabilities and customizable workflows make it a critical tool for businesses seeking to enhance security and operational efficiency.

Abrigo's Fraud Detection Software is designed to help financial institutions identify, detect, and stop fraud more accurately and efficiently, protecting both the institution and its customers or members from bad actors. Key features include:

- Automated Workflows: Increases efficiency with automated end-to-end fraud detection workflows, minimizing manual processing and lowering costs.

- AI-Driven Check Image Analysis: Examines 22 elements like handwriting and signatures, leveraging a nationwide consortium of check data to provide a transparent fraud risk score that powers the automated decisioning process.

- Comprehensive Fraud Management: Detects altered items, forgeries, and fraudulent check images at a higher rate by unifying AI/ML-powered check image analysis with configurable decision engines.

- Integrated Systems: Offers a robust, transparent, and adaptable financial crime solution suite that includes both fraud detection software and AML software, enabling better detection, management, and resolution of suspicious activity.

By providing these features, Abrigo's Fraud Detection Software enables financial institutions to combat financial crime effectively, ensuring the safety and integrity of their operations.

• 🏆 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)

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

brigo, founded in 2000 and headquartered in Austin, Texas, is a prominent provider of compliance, credit risk, and lending software solutions tailored for financial institutions. The company's mission is to "Make Big Things Happen," emphasizing its commitment to assisting community financial institutions in navigating complex regulatory landscapes, resource constraints, and evolving market dynamics.

Over the years, Abrigo has strategically expanded its capabilities through several key acquisitions:

2018: Acquired MainStreet Technologies (MST) and Sageworks, leading to the rebranding as Abrigo in January 2019.
2019: Integrated Farin Financial Risk Management into its portfolio.
2022: Purchased Valuant and BankLabs' Construct and +Pay construction loan administration and funding solutions.
2023: Added DiCOM Software to enhance its service offerings.
2024: Welcomed TPG Software, further expanding its mission-critical solutions for financial institutions.

These acquisitions have bolstered Abrigo's product suite, enabling the company to offer comprehensive solutions that automate processes such as anti-money laundering, fraud detection, credit risk management, and lending services. By integrating these diverse capabilities, Abrigo empowers financial institutions to mitigate risk, streamline workflows, and make informed decisions with confidence.

As of 2024, Abrigo employs approximately 768 individuals across multiple locations, including Austin, Texas; Madison, Wisconsin; and Raleigh, North Carolina.