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LexisNexis Risk Solutions acquires Accuity

Compliance platform Accuity has been consolidated by LexisNexis Risk Solutions in a bid to expand the group’s global offering.

user icon Charbel Kadib
Thu, 25 Feb 2021
LexisNexis Risk Solutions acquires Accuity
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LexisNexis Risk Solutions has confirmed its acquisition of compliance platform Accuity, which has begun operating as part of the broader group.

The acquisition is expected to bolster the group’s global offering, particularly in the financial crime compliance sector.

Accuity’s offering is designed to secure client transactions via an interconnected financial ecosystem, leveraging financial crime screening, global payment services and financial asset verification and fraud prevention solutions for government benefit programs.

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According to Colin Whitmore, senior analyst at Aite Group, the merger meets the growing demand for compliance solutions.

“In today’s evolving world of financial crime and risk, there is a growing industry-wide requirement for compliance, risk and payments solutions that seamlessly use and integrate with comprehensive, trusted and in-depth data sets,” Whitmore said.

“The combined offerings of Accuity and LexisNexis Risk Solutions financial crime compliance and risk offerings promise to meet this growing need.”

Rick Trainor, LexisNexis Risk Solutions business services CEO, said Accuity is a “strategic fit” for the group.

“Both companies share a common vision – enabling financial transparency and inclusion around the world using innovative technology and comprehensive data to help our customers control risk, enhance and empower compliance and optimise business processes,” he said.

“The Accuity suites for payments and compliance professionals will complement our existing global solutions, including financial crime compliance and fraud and identity management.”

Bot attacks on the rise

The merger comes amid new research from LexisNexis Risk Solutions’ biannual Cybercrime Report, which found that bot attacks increased over the second half of 2020 in response to a spike in digital transactions.

“Cyber criminals are opportunists first and masters of disguise second. They are always on the lookout for a new target whether this is new lines of credit, new online businesses or new-to digital consumers,” Rebekah Moody, director of fraud and identity for LexisNexis Risk Solutions, said.

“While digital businesses are working hard to better provide for new and existing customers, they must identify and mitigate potential risks moment by moment in order to protect consumers from becoming victims of fraud.

“Building a layered defence is key.”

Charbel Kadib

Charbel Kadib

News Editor – Defence and Security, Momentum Media

Prior to joining the defence and aerospace team in 2020, Charbel was news editor of The Adviser and Mortgage Business, where he covered developments in the banking and financial services sector for three years. Charbel has a keen interest in geopolitics and international relations, graduating from the University of Notre Dame with a double major in politics and journalism. Charbel has also completed internships with The Australian Department of Communications and the Arts and public relations agency Fifty Acres

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