Benefits
Organizations with limited knowledge of their existing and prospective customers can face increased risks, including regulatory fines, a tarnished corporate image and increased losses associated with fraud, all of which can erode trust and impact the bottom line.
This makes the overall efficiency and effectiveness of a company's regulatory compliance programs and identity risk management more important than ever. Fortunately, there's a solution that can help—Bridger Insight XG. What's more, it simplifies and enhances the screening of new and existing customers by integrating the latest technologies through a single interface.
Bridger Insight™ XG can help you:
- Simplify processes, maximize human resources, and reduce workload
- Take steps toward USA PATRIOT Act compliance, Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA) and related regulations
- Prevent crimes such as terrorism and money laundering
- Avoid government-imposed penalties
- Reduce operating costs
- Protect your company's reputation and mitigate risk
Get it now: For more information about LexisNexis® Bridger Insight™ XG, call 800.869.0751.
Features
Identity Verification: Get More True Matches
Verifying a customer's identity can be a complex process. LexisNexis® Bridger Insight XG offers integrated access to LexisNexis enhanced due diligence products, including InstantID®, the only identity verification tool endorsed by the American Bankers Association. InstantID verifies information across multiple databases using a powerful search process and sophisticated analytics. Billions of records and thousands of independent data sources are searched in order to quickly provide robust and accurate identity verification. Bridger Insight™ XG is known for its easy-to-use interface, and allows you to manage workflow with ease. Audits are much easier because of the archiving capabilities in Bridger Insight XG.
Know Your Customer (KYC) and Customer Identification Program (CIP)
Integrated platform streamlines KYC efforts and helps satisfy USA PATRIOT Act requirements regarding CIP.
Gain better customer insight
Quickly verify that businesses and individuals are who they claim to be. Need more information to resolve an identity? Bridger Insight XG is integrated to LexisNexis® AML Solutions where you can select Enhanced Due Diligence reports such as Find-a-Person, our comprehensive SmartLinx® report, Negative News and more. With the click of a button, the information you locate on the AML Solutions can be attached to the record in LexisNexis® Bridger Insight XG. Your decisions can be justified, even a year later when the auditor shows up!
Easy-to-Read Reports
Multiple results are returned in an easy-to-read format and feature a configurable risk score that is mapped to a color-coded, "risk meter".
Politically Exposed Person (PEP) Screening Capabilities
Leverage our strategic relationships with leading vendors and take advantage of our newest features that help simplify PEP scanning, particularly batch files.
- World-Check® - database of know heightened-risk individuals and entities
Identity Theft Red Flags Rule Capabilities
LexisNexis® Bridger Insight XG can supplement your existing anti-fraud, CIP and/or KYC programs to help you address specific components of this regulation, as well as request an InstantID® with Red Flags Rule Report from the same solution used for OFAC compliance and PEP screening.
Superior Watchlist Screening Capabilities
LexisNexis® Bridger Insight XG provides access to more than 25 updated watchlists, allowing you to screen your customers in real-time or via batch processing. LexisNexis® Bridger Insight XG also allows you to easily import nearly any additional list or data you choose—including FinCEN's 314(a) list, custom hotlists and fraud lists.
A few of the watchlists you can search against include:
- OFAC Specially Designated Nationals and Blocked Persons List
- United Nations Consolidated List
- Terrorist Exclusion List
- Unauthorized Banking List
- Bureau of Industry and Security List
- Canada's Office of the Superintendant of Financial Institutions (OSFI)
Additional lists, such as the Financial Crimes Enforcement Network (FinCEN) 314(a), can be imported as needed.
Match Rates
The Bridger Insight XG fuzzy-matching algorithm results in extremely low false-positive rates of often less than one percent. These rates are well below other comparable solutions!1
Regulatory Compliance: Protect Your Reputation and the Bottom Line
Banks remain a leading area of focus for compliance issues. All banking transactions should be screened in order to avoid compliance violations. Areas such as new accounts, wire transfers, and letters of credit should be checked as the transactions occur. The entire customer information file (CIF) should be rechecked whenever compliance agencies update their watchlists.
Where should a bank begin in implementing compliance systems? Begin by identifying the types of transactions which create the most risk for compliance violations. These areas typically include the following: wire transfers, new accounts, letters of credit, loans, and CIF files. You may find Practical OFAC Principles and Practical USA PATRIOT Act Principles helpful for this.
Meeting regulatory requirements can be costly; failing to comply can be even more expensive, impacting both your brand value and the bottom line. Bridger Insight XG offers case management to help you automate your compliance workflow and verify that your processes are being followed. By analyzing management reports, you can help realize significant savings by more efficiently managing false positives. In addition, the archiving capabilities and audit reports can help support regulatory examinations.
Streamline and simplify your compliance efforts with LexisNexis® Bridger Insight™ XG, which can help you:
- Comply with International ACH Transaction (IAT) Rules
- Comply with the Identity Theft Red Flags Rule
- Perform better KYC and CIP to reduce risk
Public Records Searches for Enhanced Due Diligence: Greater Customer Insight
Achieve the next level in knowing your individual or business customer.
LexisNexis® Bridger Insight™ XG provides access to a world of information from a variety of sources, helping you to detect and mitigate hidden reputational risks—before they have a chance to adversely affect your business.
Need to cast a wider net of research on an individual or business? LexisNexis® Bridger Insight XG can be configured to launch multiple simultaneous searches of your choice, all with a single transaction request. We can provide:
- Extensive watchlist screening - with powerful search logic and low false positive rates
- Politically Exposed Persons (PEP) Screening - Utilizes a strategic relationship between LexisNexis® and World-Check to provide integrated access to a database of known heightened-risk individuals and businesses. Coverage includes money launderers, fraudsters, terrorists, organized crime and sanctioned entities, plus individuals and businesses from over a dozen other categories
- Custom "hot list" - Protects your institution by creating a list of people and entities you do not want to do business with
- Turn-key, enterprise-wide deployment - Includes real-time and/or automated batch screening
- InstantID® with Red Flags Rule Report from LexisNexis® Risk Solutions - Helps you quickly verify the identity of prospective customers and comply with the FACT Act Identity Theft Red Flags Rule by revealing patterns, practices and suspicious activities common in identity theft. InstantID was designed to help you comply with federal regulations and follow the recommended policy guidelines published by the American Bankers Association. It also helps you meet the new account opening requirements that are outlined in Section 326 of the USA PATRIOT Act and comply with the special due diligence needs imposed by Section 312.
- FraudPoint® - Improves your ability to detect fraud by isolating subtle inconsistencies in applicant and account information not evident in standard verification and validation processes. Pinpoint high-risk applications in seconds with a solution that uses advanced scoring techniques and a powerful database of information to instantly identify which credit applicants and businesses present you with the highest risk of fraud.
- Anti-Money Laundering Solutions - Fight fraud and protect your assets with the LexisNexis® Anti-Money Laundering Solutions. This integrated tool instantly authenticates identities, assesses financial risk, and examines assets and relationships—all within a single, easy-to-use online. Bridger Insight XG facilitates access to the LexisNexis® Anti-Money Laundering Solutions, where you can conduct enhanced due diligence with a variety of tools such as Negative News searches and comprehensive reports on people and businesses.
- This streamlined search capability helps you uncover important information that might otherwise be missed in a more cursory identity and/or check.
Get it now: For more information about LexisNexis® Bridger Insight™ XG, call 800.869.0751.
Clients & Testimonials
"Bridger Insight was easy to implement and the data is presented in a format that is easy to understand and empowers the branch representatives to address identity issues as they arise..."
Nisa Reyes
Assistant Vice President
Advancial Federal Credit Union
"LexisNexis® and Bridger Insight are the industry leaders in OFAC, Bank Secrecy Act and USA PATRIOT Act compliance solutions...The tools they offer should be an integral part of any organization's anti-terrorism and money laundering compliance program."
Viet Dinh
USA PATRIOT Act Co-author and former Assistant U.S. Attorney General
Get it now: For more information about LexisNexis® Bridger Insight™ XG, call 800.869.0751.
