Harnessing an agile suite of capabilities to assess customer lifecycle risks

LexisNexis® ThreatMetrix® delivers a risk perspective that combines robust digital identity intelligence with relevant transaction and risk insights.

In the digital marketplace, seconds of delay can cost businesses valuable revenue. Virtual banks must effectively increase conversion rates and navigate the cybercrime-threat climate that constantly grows more complex. 

With cybersecurity risks impacting virtual banking in Asia, virtual banks could harness an agile and unique suite of capabilities to more accurately assess risk across all points of the customer lifecycle, help meet regulatory and compliance obligations, and protect the bank’s reputation. 

As such, data and analytics company LexisNexis® Risk Solutions developed an enterprise solution for digital identity intelligence and digital authentication named LexisNexis® ThreatMetrix®. The solution combines digital identity insights built from billions of transactions with leading analytic technology and embedded machine learning.

Moreover, its fraud prevention solutions unify decision analytics across the entire customer journey to help accelerate conversions and maximise revenue, improve transaction security and refine personalisation, minimise friction and reduce false positives, reduce abandoned transactions with online payment fraud detection, and detect and prevent more fraud.

In addition, LexisNexis Risk Solutions works with approximately 50% of virtual banks in Hong Kong to help balance their consumer promises of less friction and convenient banking with their compliance needs. 

In April 2022, LexisNexis Risk Solutions also acquired BehavioSec®, an advanced behavioural biometrics technology provider that delivers advanced behavioural biometrics capabilities and complements its existing solutions in this field, and brings the ability to convert complex mobile signals from touchscreens and sensors into rules and advanced mobile behavioural biometric-based authentication capabilities, complementing the browser-based solutions within ThreatMetrix®.

LexisNexis Risk Solutions delivers through a multi-layered defence approach in digital and identity assessment, decision analytics, authentication, investigation, and review. It provides evaluations and insights driven by a unified picture of identity. 

With its dedication to providing customers with solutions and decision tools to help them assess fraud risks, LexisNexis Risk Solutions won the Cybersecurity - Financial Services category in the Hong Kong Business Technology Excellence Awards 2022. 

The prestigious awards programme honours outstanding companies that have made exceptional contributions to pursuing technological innovation in Hong Kong.

The Hong Kong Business Technology Excellence Awards is presented by Hong Kong Business Magazine. To view the full list of winners, click here. If you want to join the 2023 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Julie Anne Nuñez at [email protected].