LexisNexis® Risk Solutions has received a Best Practices Company of the Year Award in the global fraud detection and prevention industry from Frost & Sullivan.
This top honour recognises LexisNexis Risk Solutions for its visionary innovation, market-leading performance and unmatched customer care. Frost & Sullivan independently evaluated nominated organisations against multiple criteria across the customer impact and visionary innovation and performance categories.
LexisNexis Risk Solutions received praise for empowering small and large enterprises with data and analytics-based insights, enabling them to prevent fraud and financial crimes, while helping them meet regulatory requirements.
“The product portfolio of LexisNexis Risk Solutions, guided by its vision to support customers with risk appropriate fraud and identity workflows, caters to the entire customer interaction channel and customer journey,” said Deepali Sathe, senior industry analyst at Frost & Sullivan. “Utilising its digital network and consortium of customers, the company offers real-time and privacy-centric sharing of fraud feedback. This shared intelligence adds value by enabling better protection against fraudulent activity that may have affected another customer in the network.”
Frost & Sullivan highlighted the attributes of LexisNexis® ThreatMetrix® in providing companies with protection against fraud across the customer lifecycle. ThreatMetrix® used embedded machine learning and insights, sourced from billions of global transactions and nine billion unique devices in 2022 alone to authenticate customers. This solution allows organisations to introduce the appropriate level of security-related friction to each interaction.
It also recognised the value of LexisNexis® Emailage® for email address-based risk assessment and LexisNexis® BehavioSec® for behavioural biometrics, offering customers a more comprehensive portfolio to detect and prevent fraudulent activity. It also recognised the value of solutions including LexisNexis® Emailage® for email address-based risk assessment, LexisNexis® Phone Finder for phone-based risk assessment, and LexisNexis® InstantID® and the LexisNexis® Fraud Intelligence analytic model for know your customer (KYC) identity verification and fraud detection.
“We are very pleased that Frost & Sullivan has recognised our efforts in fraud detection and prevention with this Best Practices Company of the Year Award, given our long and successful track record in helping businesses to reduce fraud attacks across the customer journey.” said Steve Elliot managing director, for LexisNexis Risk Solutions UK & Ireland. “We are particularly pleased Frost & Sullivan highlighted our customer-centric approach and how our products and services help customers drive revenue and growth – something we pride ourselves greatly on. Recognition from such an esteemed industry analyst firm will only help make us more determined in helping organisations worldwide to protect their customers and society from bad actors.”