LexisNexis® Risk Solutions is recognized as a prominent figure in the U.S. Technology Capability Matrix. Financial Crime Compliance Technology: Watchlist Screening Edition This is a report from Celent. The Analyst Matrix places Luminary in the top category, which corresponds to leadership rankings.
Celent's analysis focused on the features of LexisNexis® Firco™ Continuity. LexisNexis® Firco™ Continuity is enterprise software used by Tier 1 financial institutions and payment service providers around the world. The product's strengths and differentiators include scalable real-time transaction filtering and support for private and public cloud deployments.
Celent describes Firco™ Continuity as “an industry-standard sanctions screening solution optimized for real-time transaction filtering” and “offers out-of-the-box integration with SWIFT to support international wire transfers.” doing.
“Firco Continuity has pioneered numerous screening innovations along the way to becoming an industry leader in the critical compliance function of sanctions.” Neil Katkoff, Director of Celent's Risk Practice and author of this report: “Recent scalability and cloud-enabled enhancements make this solution a viable option for digital financial services and payments environments.”
Celent highlighted upgrades that will be implemented in Firco Continuity in 2023 to support Kubernetes-enabled cloud deployment capabilities. This update also increases his scalability to more than 40 million transactions per day, a significant increase from his 5 million transactions per day supported in previous versions of the software.
“Firco Continuity is trusted by eight of the world's top 10 banks to help them stay abreast of the growing number of sanctioned entities and prepare for regulatory scrutiny.” Said said Matt Michaud, Global Head of Financial Crime Compliance at LexisNexis Risk Solutions. “The enhancements made to Firco Continuity last year are designed to meet the needs of top-tier customers for scalability and explainability, while also allowing them to deploy the solution in the cloud or on-premises, depending on their requirements. Celent's designation of LexisNexis Risk Solutions as a celebrity in this report recognizes our team's struggle to work closely with clients to deliver solutions that support them in a changing regulatory environment. This is the rating we received.”
