Third-Party Risk Management
Integrate adverse media, sanctions, PEPs, and other relevant datasets from Nexis Data+ for faster, more insightful third-party risk management.
Global Bank Transforms Risk Management with Cutting-Edge Data Integration
Challenge
A leading global bank needed to update inefficient manual risk workflows with timely entity screening and enhanced due diligence, as well as ongoing adverse news monitoring, to support to address the evolving regulatory environment in the world of finance.
Solution
The bank leverages a Nexis Data+ API to access adverse news from 60,000 sources, using AI-powered analysis to swiftly identify and address potential risks.
Results
In addition to freeing risk managers to focus on more strategic work, client onboarding takes place more quickly, boosting client satisfaction and revenue opportunities.
This strategic move has streamlined the bank’s third-party risk management, marrying advanced data with AI for robust compliance and operational efficiency. Enriched data allows for an ongoing adverse media feed fine-tuned to the bank’s risk considerations. As a result, the bank has shortened the timeline for comprehensive risk assessments and monitoring, helping to ensure compliance while improving client relationships and predictive risk management.
Risk Management Resources
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