About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Darlington Building Society Taps LexisNexis’ RiskNarrative to Combat Financial Crime

Subscribe to our newsletter

Darlington Building Society has selected LexisNexis Risk Solutions’ RiskNarrative platform to support its financial crime prevention strategy and improve its existing online member portal experience and customer onboarding journeys.

The implementation is part of the UK building society’s ongoing digital transformation programme to digitalise its overall customer journey, including automated document verification and due diligence checks to enhance customer experience, and financial crime and fraud prevention processes.

Darlington was seeking a technology solution to facilitate low-friction customer journeys while maintaining the highest levels of compliance and risk mitigation. The RiskNarrative platform will allow it to detect fraud and identify risk using a single API to integrates into more than 50 third-party data sources to enrich risk decisioning.

RiskNarrative will allow Darlington to orchestrate document verification, politically exposed person (PEP) and sanctions monitoring, identity and address verification, risk ratings of applications, and deliver the ability to build and maintain internal watch lists.

According to David Bews, Chief Risk Officer for Darlington Building Society, the RiskNarrative platform “will allow us to digitalise and streamline our onboarding journey for mortgage and savings applicants, while also allowing us to take control and future-proof our strategy in relation to financial crime prevention. The RiskNarrative solution allows us to react to fraud trends and amend our criteria as appropriate, so we can mitigate risk for the Society and our members now, and in the future.”

Chris Hunter, Chief Operating Officer for Darlington Building Society, adds: “The rollout out of Digital ID&V, as part of the RiskNarrative implementation, is a step forward in simplifying customer account opening and reducing paper usage.”

Darlington Building Society operates throughout Yorkshire and the North East of England. It had assets of £752 million at year-end 2021.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best practices for regulatory reporting

Date: 16 July 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Regulatory reporting is a repetitive, time consuming and expensive business. At its best it requires robust data governance, automated data collection and reporting, standardised reporting formats, a centralised reporting system and a means to monitor and review regulatory change....

BLOG

Duco Offers Transaction Reporting Eligibility Validator for EMIR

Duco, a provider of Software-as-a-Service (SaaS) AI-powered data automation, has released a transaction reporting eligibility validator that provides an independent validation of internal eligibility rules by using field-by-field comparison of individual financial services firms’ rules versus existing ESMA eligibility requirements. The solution highlights under and overreporting using Duco’s reconciliation and exception management capabilities, and regulatory...

EVENT

Buy AND Build: The Future of Capital Markets Technology, London

Buy AND Build: The Future of Capital Markets Technology London on September 19th at Marriott Hotel Canary Wharf London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...