LexisNexis U.S., a provider of legal, news, and business information services, has aligned with national compliance firm American Bank Systems (ABS) in an effort to better protect financial institutions from identity fraud and to offer them a tool that can be used in their USA PATRIOT Act compliance efforts. The alliance integrates the two companies' products, LexisNexis RiskWise and ABS' BankManager, into one program giving banks an instant risk rating on new accounts and immediate verification of customer identification.
BankManager centralizes customer loan and account files from multiple branches into an electronic workstation. It combines imaging technology, loan document management and compliance tracking with a built-in, automated verification with the U.S. Treasury's Office of Foreign Assets Control. After a new accounts officer inputs a customer's information in BankManager, RiskWise searches multiple databases to verify and validate an applicant's identity.
(www.americanbanksystems.com; www.lexisnexis.com; www.lexisnexis.com/risk; www.reedelsevier.com)